Search This Blog

Tuesday, March 6, 2018

Market Alert - Pre-Market

Futures vs FV: SP 9.31; DJ 127.24; NASDAQ 35.22

Talk that the tariff drive is not so strong and word from South Korea that NKorea may be ready to go 'no nukes!' for a guarantee of regime survival has kept the Friday/Monday upside alive. Of course as seen Monday with futures collapsing into the open only to rally, does an upside open mean anything?


Gary Cohn reportedly is ready to leave the Trump administration if the tariffs are pursued. Nice seeing you Gary. One thing Trump does, even if it takes time, is live up to his campaign promises in some form.


Fed: Kaplan says that rate hikes are necessary given the US is near full employment. Interesting in that former Vice chair Ferguson said yesterday that full employment based upon the current US jobs market was illusory.


Sentiment: Gartman says they are going short the SP500 this morning. Okay, perhaps that ensures the pre-market rally in futures is legitimate and has staying power.


Earnings: TGT misses bottom line, beats top line as online sales gain.


Time bombs: It is reported that 42% of the US has less than $10K saved for retirement. Oh that is great. Pay for healthcare, pay for food, pay for housing during their working years, and now pay more when they are not working.


OTHER MARKETS
Bonds: 2.883% vs 2.879%

EUR/USD: 1.2406 vs 1.2335. Dollar off. Again

USD/JPY: 106.08 vs 106.36

Oil: 63.10, +0.53

Gold: 1333.60, +13.70


Futures holding same level for the past three hours. With SP500, DJ30 at the 50 day MA's after 2 days of bouncing, the key is whether the morning upside holds and if those two can break through.

Jon Johnson, Chief Market Strategist
InvestmentHouse.com
______________________________________
Alert Key
http://www.investmenthouse.com/alertkey.htm

PLEASE DO NOT REPLY TO THIS EMAIL. USE THE CONTACT US PAGE ON OUR WEBSITE.

Customer Support: http://investmenthouse.com/contact_us.php

No comments:

Post a Comment