Views From The Hill

View From The Hill: November-19-2015

Economic Data Continues To Support Recovery and Rate Hike

bulls-and-bears4

Thursday’s economic data supported the Fed’s thesis of continual economic recovery as this week’s Jobless Claims report indicated a healthy labor market with unemployment claims at only 271k vs consensus @ 270k and previous @ 276k.

Almost sealing the deal for an interest rate increase in December was October-2015’s  Leading Indicators Index which jumped to 0.6% vs. previous month @ -0.2%. This was its first positive reading over the last three months.

Energy and precious metals, two widely followed commodities, put in solid performances today while oversold Utilities and Transportation stocks led the way for equities. Otherwise, it was the second time this week where a strong bullish move was subsequently followed by relatively unchanged prices.

 


Performance Summary

 

vfth-performanc-11-19-2015
Click to enlarge

 

 

 

 

 

 

 

 

 

 

 

  • Trends: ST = short-term; MT = Intermediate-term; LT = long-term

 


Market Condition

Yesterday, the SP-500 index climbed above its 22-day moving average and although today was a lackluster day, it easily held the support of its 22-day moving average. Volume, which is not indicated on the chart below, was less than average and the prior two days of trading saw the market advance on continually decreasing volume. The market is still in an oversold condition so it is premature to blame it buyer exhaustion.

Good day/evening from Hillbent for the Market Direction…

 

Daily Chart Technical Analysis
sp500-daily=11-19-2015
Click to enlarge

 

 

 

 

 

 

 

 

 

 

 

 

Market Breadth
Advancers 253 Decliners 246
New 5-day highs 252 New 5-day lows 23
New 52-week highs 28 New 52-week lows 27
Bullish reversals 5 Bearish reversals 127

 

Market Momentum
% > 20 M.A. % > 50 M.A. % > 100 M.A. % > 200 M.A.
54%
69% ↑
51% ↑
48% ↑
  • ↑ = positive momentum; ↓ = negative momentum; and ↔ = neutral momentum

 


Volume Radar Alerts

 

vfth-volume-radar-11-19-2015
Click to enlarge

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • 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.

 

Leave a Reply

Your email address will not be published. Required fields are marked *