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Situations Investors Should Be Aware Of Today

  • Written by Syndicated Publisher No Comments Comments
    June 26, 2013

    Global markets, including the U.S., are short-term oversold, and probably due for a short-term rally attempt. Buy the rally or sell into it?

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    A raft of economic reports are due out this week. They got off to a mixed start yesterday. The monthly Chicago Fed’s National Business Index was less negative in May, but still at a negative –0.30 from –0.52 in April. The more important three-month m.a. fell to minus -0.42 from –0.13 in April. The Fed Index of 85 economic indicators is designed so that a reading below minus –0.70 on the 3-month m.a. indicates that a recession is probably  underway.

    But the Dallas Fed’s Mfg Index unexpectedly improved sharply in June, jumping to a positive + 6.5 from negative –10.50 in May.

    This morning’s reports so far are that Durable Goods Orders were up 3.6% in May, much better than the consensus forecast, but most of the increase was due to volatile aircraft orders. Stripping out the transportation orders, durable goods orders were up 0.7% in May, following a 1.7% increase in April. The Case-Shiller Home Price Index showed that U.S. home prices jumped 2.5% in April, the largest monthly increase since they began keeping the data in 2000. According to Case-Shiller, prices rose in April at the fastest annual pace since 2006, with San Francisco posting the biggest increase, 23.9%, while New York had the smallest at 3.2%.

    However, the Federal Housing Finance Agency (FHFA) Home Price Index recorded a seasonally adjusted increase in national home prices in April of only 0.7%.

    At 10 o’clock will come Consumer Confidence and New Home Sales.

    To read my weekend newspaper column click hereMore Similarities To The Market Peak In 1973

     

    Subscribers to Street Smart Report: In addition to the charts, signals and recommendations in this morning’s blog, the in-depth mid-week markets update will be in your secure area of the Street Smart Report website tomorrow.

    Images: Flickr (licence attribution)

    About The Author

     

    Sy Harding publishes the financial website Street Smart Report Online and a free daily Internet blog at Sy’s Free Blog. In 1999 he authored Riding The Bear – How To Prosper In the Coming Bear Market. His latest book is Beat the Market the Easy Way! – Proven Seasonal Strategies Double Market’s Performance!

    It includes our research and analysis on the economy and markets, and provides charts and buy and sell signals on the major market indexes, sectors, bonds, gold, individual stocks and etf’s, including short-sales and ‘inverse’ etf’s.

    It provides two model portfolios as guides. One is based on ourSeasonal Timing Strategy, one on our Market-Timing Strategy.

    In depth updates are provided every Wednesday, with interim ‘hotline’ updates every time we make a trade. An 8-page traditional newsletter Street Smart Report is provided on the website every 3 weeks, in pdf format for viewing or printing out.

    There is the Street Smart School of online technical analysis ‘seminars’,commentaries to keep you ‘street smart’ about Wall Street, and much more. 

     

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