Commentary and Performance
This evening’s comments will be extremely brief, if any at all.
The SP-500 was resilient once again @ 2099.20 (-0.73 / -0.03%). Finishing the day in positive territory were the the Nasdaq-100 @ 4707.23 (+4.33 / +0.09%) and the Rusell-2000 @ 1199.75 (+9.06 / +0.76%).
The VIX closed down @ 14.33 (-0.72 / -4.78%).
Treasury rates are starting to gain some altitude rather quicker than usual as the great rotation of capital finally seems to be underway. The 10-Yr closed @ 23.88 (+0.88 / +3.92%) and the 30-Yr @ 30.89 (+0.76 / +2.52%).
The US Dollar Index has hardly any opposition since the Federal Reserve has clearly diverged from the globally coordinated central banks’ policy of easing. The eagle is free to soar and it did @ 99.15 (+1.18 / +1.20%).
Gold ended lower for its 8th consecutive day @ 1088.90 (-14.10 / -1.28%). WTI Crude Oil initiated a new short-term downtrend as it closed the week @ 44.52 (-0.87 / -1.92%).
The Dow Jones Real Estate Index has broken it’s short-term uptrend and is now in bearish mode @ 289.53 (-8.54 / -2.87%). The same can also be said for the Dow Jones Home Construction Index which closed lower @ 567.90 (-5.51 / -0.96%).
The fact that the SP-500 has managed to hold onto most of its gains while being in an overbought condition is most impressive. This was a week of consolidation and it looks like the market has come to terms with the possibility of higher interest rates. I would have to call this one a victory for the bulls since they were able to remain within the channel. Let’s see how next week unfolds.
Best wishes for a safe and careful weekend from Hillbent…
|Daily Chart Analysis|
|New 5-day highs||117||New 5-day lows||176|
|New 52-week highs||51||New 52-week lows||16|
|Bullish reversals||77||Bearish reversals||41|
|% > 20 M.A.||% > 50 M.A.||% > 100 M.A.||% > 200 M.A.|
Volume Radar Alerts
|Stocks prices increasing on high volume|
|Company||Price||% Chg||Vol Surge %|
|Synchrony Financial (SYF)||33.98||+4.20%||463%|
|Federated Investors B (FII)||31.98||+2.31%||322%|
|Bruker Corp (BRKR)||20.97||+3.35%||302%|
|Arista Networks Inc (ANET)||70.46||+13.72%||298%|
|Teradata Corp (TDC)||28.83||+12.71%||262%|
|Stock prices declining on high volume|
|Company||Price||% Chg||Vol Surge %|
|HomeAway Inc (AWAY)||37.30||-7.10%||624%|
|Incyte Corp (INCY)||100.21||-14.17%||456%|
|Nu Skin Enterprises (NUS)||34.96||-10.82%||449%|
|Mohawk Industries Inc (MHK)||187.14||-5.23%||317%|
|The Hain Celestial Grp Inc (HAIN)||45.90||-4.20%||304%|
Market Moving Events
- Economy / Employment / USA: The Employment Situation for October-2015 indicated Nonfarm Payrolls grew @ 271k vs. consensus @ 190k and prior revised @ 137k. The Unemployment Rate ticked down to 5.0% vs. consensus @ 5.0% and prior @ 5.0%. Average Hourly Earnings also increased 0.4% vs. consensus @ 0.2% and prior 0.0%. while the Average Hours per Workweek came in @ 34.5 hrs matched both consensus estimates and prior readings.
- Economy / Production / Europe: Industrial Production in Germany for September-2015 was weaker than expected month-over-month @ -1.1% vs. consensus @ 0.4% and prior revised @ -0.6%. Annually, it rose 0.2% vs. consensus @ 1.2% and prior revised @ 2.9%.
- Economy / Production / UK: Industrial Production in Great Britain for September-2015 was slightly under monthly expectations @ -0.2% vs. consensus @ -0.1% and prior revised @ 0.9%. Annually, it was @ 1.1% vs. consensus @ 1.3% and prior revised @ 1.9%. Manufacturing Output on a monthly basis came in @ 0.8% vs. consensus @ 0.5% and prior revised @ 0.4%. Annually, Mfg Output contracted @ -0.6% vs. consensus @ -0.8% and prior revised @ -0.9%.
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