Month: September 2018

General Market Comment

The US market was closed on Monday to celebrate Labor Day. On Friday, the US indices closed mixed. Shares in the Automobiles & Components (-1.45%), Energy (-0.73%) and Utilities (-0.45%) sectors lost traction while shares in the Technology Hardware & Equipment (+0.98%), Retailing (+0.59%) and Food & Staples Retailing (+0.58%) sectors gained momentum. On the economic data front, the Chicago Business Barometer Index fell to 63.6 in August (estimated 63), from 65.5 in the prior month. Lastly, the University of Michigan consumer sentiment index increased to 96.2 in final estimate in August (expected 95.5) from 97.9 in the prior month. The S&P 500 (2,901.52) remains above its 20d moving average (2,862.45 – positive slope) and 50d moving average (2,814.51 – positive slope). read more

Commodity Closing – Europe/Oil-Gas Majors 03.09.18

Brent Crude Technical Snap

Pivot: 77.85. Short positions below 77.85 with targets at 77.20 & 76.80 in extension. Above 77.85 look for further upside with 78.35 & 78.60 as targets. RSI advocates for further downside.

Today’s Economic Events

08:50 FR AUG F Markit Manufacturing PMI exp: 53.7 prev: 53.7
09:00 EU AUG F Markit Manufacturing exp: 54.6 prev: 54.6

General Market Comment

US indices closed mixed on Friday. Shares in the Automobiles & Components (-1.45%), Energy (-0.73%) and Utilities (-0.45%) sectors lost traction while shares in the Technology Hardware & Equipment (+0.98%), Retailing (+0.59%) and Food & Staples Retailing (+0.58%) sectors gained momentum. On the economic data front, the Chicago Business Barometer Index fell to 63.6 in August (estimated 63), from 65.5 in the prior month. Lastly, the University of Michigan consumer sentiment index increased to 96.2 in final estimate in August (expected 95.5) from 97.9 in the prior month. The S&P 500 (2,901.52) remains above its 20d moving average (2,862.45 – positive slope) and 50d moving average (2,814.51 – positive slope). read more