View From The Hill: November-17-2015

Posted on Posted in Views From The Hill

All Quiet On The Equity Front

bulls-and-bears4

Retailers, Home Depot (HD) and Walmart (WMT), reported solid earnings. However, this positive news for the retail sector was more or less offset by today’s inflation data which probably gives the Fed further justification for a rate hike. Outside of this, there were no other market moving data releases.

The Consumer Price Index for October-2015 was in line with expectations @ 0.2% mth/mth and improved annually @ 0.2% vs prior @ 0.0%.

Although Industrial Production for October-2015 was unchanged @ -0.2% mth/mth, the manufacturing component of the report improved significantly to 0.4% vs previous @ -0.1% while capacity utilization rates were flat @ 77.5%.

In real estate, today’s Home Price Index for November-2015 indicated some weakness in homebuilders as numbers came in @ 62 vs. consensus @ 64 and prior revised @ 65.

Overall, it was a relatively flat session for most asset classes, e.g. equities, U.S. Dollar, and real estate. Exceptions were volatility (VIX),  today’s top performer, but with a relatively small gain and, at the losing end of the spectrum, gold, crude oil and utility stocks. Treasury rates receded slightly.

 


Performance Summary

 

vfth-performance-11-17-2015
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  • Trends: ST = short-term; MT = Intermediate-term; LT = long-term

 


Market Condition

This morning the SP-500 initiated a continuation rally from yesterday but, after two hours into the session, the momentum train derailed when it collided with its 22-day moving average. From there the market faded and finished in negative territory, albeit barely unchanged. Failure to surmount this resistance was a negative mark against the bulls. However, failure to squeeze more concessions from yesterday’s gains penalized the bears as well. Welcome to the first day of consolidation. Let’s see what tomorrow brings.

Until then, stay Hillbent for the Market Direction…

 

Daily Chart Technical Analysis
sp500-daily-11-17-2015
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Market Breadth
Advancers 188 Decliners 309
New 5-day highs 107 New 5-day lows 57
New 52-week highs 9 New 52-week lows 23
Bullish reversals 7 Bearish reversals 245

 

Market Momentum
% > 20 M.A. % > 50 M.A. % > 100 M.A. % > 200 M.A.
34% ↓
59% ↓
43% ↓
40% ↓
  • ↑ = positive momentum; ↓ = negative momentum; and ↔ = neutral momentum

 


Volume Radar Alerts

 

vfth-volume-radar-11-17-2015
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  • Vol % = volume percentage greater than average volume
  • SIR = short interest ratio or days to cover

Disclaimer

Hillbent does not provide individualized market advice. The information we publish regards securities in which we believe our readers may be interested and our reports reflect our sincere opinions. Nevertheless, they are not intended to be personalized recommendations to buy, hold, or sell securities. Investments in the securities markets, and especially in options, are speculative and involve substantial risk. Each individual investor should determine their respective appropriate level of risk. It is recommended that you seek personal advice from your professional investment advisor and conduct further independent due diligence research before acting on information published in any of our reports. Most of our information is derived directly from information published by the companies on which we report and/or from other sources we deem to be reliable, without our independent verification. Therefore, we cannot assure the completeness or accuracy of information contained within these reports and we do not in any way warrant or guarantee the success of any action which you take in reliance on our statements. Hillbent.com, Inc. or its affiliates may own positions in the equities mentioned in our reports. We do not receive any compensation from any of the companies covered in our reports.

 

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