It was a bearish week for US equity indexes, with net weekly declines ranging from -3.5% (Nasdaq comp'), -2.9% (SPX), -2.3% (NYSE comp'), -2.0% (Dow), to -1.0% (R2K, Trans).
Lets take our regular look at six of the main US indexes (monthly candle charts)
sp'500
Nasdaq comp'
Dow
R2K
NYSE comp'
Trans
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Summary
All six US equity indexes settled net lower for the week.
The Nasdaq comp' lead the way lower, whilst the R2K and Trans were most resilient.
More broadly, all six US equity indexes are trading below their respective monthly 10MA. Five indexes have negative momentum, the exception being the Trans.
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Looking ahead
Unless Russia/Ukraine spirals, this week will see a focus on Print Central.
Earnings:
M - COUP
T - DOLE
W - JBL, LE, LEN
T - DG, ACN, FDX, GME
F -
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Econ-data/events
M -
T - PPI, Empire state manu'
W - Retail sales, import/export prices, EIA Pet'
*FOMC 2pm announcement. Press conf' 2.30pm. Rate hike'1 of 25bps can be expected, taking the target range to 0.25-0.50%. Further, the printers can be announced as having been fully spun down.
T - Weekly jobs, housing starts, Phil' fed, indust' prod'
F - Existing home sales, leading indi'. *QUAD-OPEX*
*US clocks jump ahead one hour, 2am Sun' March 13th. The UK/Europe will follow in two weeks.
**As Friday is quadruple option expiration, expect considerable price chop on very high vol'.
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 |
| Spring is near |
Final note
It was another week for the equity bears, but more important is that the collective of US indexes are all short/mid term broken. Monthly momentum should be increasingly negative into the spring.
Russia/Ukraine is clearly an issue, but regardless of that, we've a slowing US/global economy, with inflation continuing to climb. All those millenials are set to experience the stagflation of the 1970s.
If you're tired of the mainstream media hacks, then you know where to find me...
For details and the latest
offers, see: https://www.tradingsunset.com
Have
a good weekend
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*the next post on this page will likely appear 5pm EST on Monday.
