Troubled Times

Troubled times with news and visuals that have been devastating Not in the mood to be chatty today Covering a couple of equity shorts that have not worked S&P bullish sentiment is now in the extreme zone and overbought S&P did get the DeMark Combo Sell Countdown 13 today  

First Call June 1, 2020

S&P futures are flat, near the best levels. Asian markets higher overnight with Hong Kong the big gainer, up more than 3%. European equities seeing good gains. Treasuries are slightly weaker. Dollar weaker on the major crosses. Gold off 0.4%. WTI crude down 0.5%.

The Week Ahead

Another important week with some notable companies reporting and important economic data later in the week The jobs report on Friday will be the worst report ever recorded and I believe the consensus is too low A lot of broker virtual conferences this week If you are on Bloomberg, please let us know if you would like to be included in our new chatroom    

Give And Take Market

Have a great weekend Taking profits on 4/5 stocks on the Trade Ideas Sheet Very difficult market to hold positions on both the long and short side  Trump speaks at 2pm ET and the market is nervous A lot of DeMark signals are triggering but we need to see one thing to confirm the price reversal

First Call May 29, 2020

S&P futures down 0.3% in Friday morning trading but off worst levels for the session. Tom DeMark is unlikely to be on Bloomberg TV today. Asian markets mostly lower overnight with Australia and Hong Kong among the laggards while China gained. European markets under some pressure but still set for big weekly gains. Treasuries firmer with some curve flattening. Dollar weaker vs both yen and euro. Gold up 0.7%. WTI crude down 2.9%.

While You Were Sleeping

A few charts looking at the overnight market performance and the regular hours’ performance  The S&P and Nasdaq continue to get and are new on some important DeMark exhaustion signals The rotation into value from growth is taking a day off with people buying momentum again and selling financials, energy, and reopening plays A lot of healthcare ETF’s are curiously showing a lot of upside exhaustion signals or are close Some new screens I’m testing are only getting sell signals in the last few days

First Call May 28, 2020

S&P futures down 0.1% after US equities extended their rally on Wednesday with the S&P closing above 3,000 for the first time since March and above its 200-day moving average for the first time since late February. S&P futures with a new DeMark Sequential sell Countdown 13 following the S&P cash S&P cash index could have a new Combo sell Countdown tomorrow Tom DeMark could talk about this tomorrow on Bloomberg (tentative scheduled) Asian markets mixed overnight with Japan a standout, up over 2%, while Hong Kong, Taiwan, and South Korea all finished down. European equities mostly higher. Treasuries are unchanged to a bit weaker at the back of the curve. Dollar little changed vs yen and euro. Gold up 0.5%. WTI crude down 1.1%.

Tensions

There’s a lot of tension around the world with geopolitics, US with politics and race relations, and even within the markets Today’s note looks at the US Sector ETF’s  One new Trade Idea Sheet addition

First Call May 27, 2020

S&P futures up 1.1%, just off best levels, after US equities rallied again on Tuesday but finished off their best levels for the session. Covering a short on the Trade Ideas sheet this morning Asian markets mixed overnight with Japan, Taiwan, and South Korea the better performers while Greater China and Australia lagged. European stocks building on the strength seen over the first two days of the week. Treasuries are little changed. Dollar a bit firmer vs yen but weaker again vs the euro. Gold down 0.5%. WTI crude off 1.0%.

Mixed Messages

A lot of mixed messages within the market while the narrative of reopening, government and central bank stimulus and vaccine hopes keeps lifting the market There are a few signs of rotation starting that I examine and update from some earlier notes One new Trade Idea I’m working on a new “DeMark Sequential Basics” video today and hope to have on the site soon