It’s already down over 1% in the early going.
This comes on top of yesterday’s big losses.
In addition to the index losses, there are some
big notable drops.
Twitter is down 3.5%. That stock got clobbered
yesterday on the lockup expiration, and obviously the selling isn’t
over yet.
Yahoo is down 5.6%. This is ominous since the
world just got a look yesterday at the Alibaba S-1, which Yahoo owns
a big part of.
King, the maker of Candy Crush, is down nearly
10% after earnings this morning..
Whole Foods is down 21.5% after the company
warned on weak same-store sales numbers, which was the result of
bigger competition.
Momentum
stocks whacked again as Nasdaq declines
Russell
Plunges To 3 Month Lows
Productivity Slows At Fastest Pace In A Year As
Labor Costs Soar
Non-Farm
productivity fell most in a year at 1.7% in Q1 -
notably worse than the 1.2% drop that was expected. Output growth
slowed dramatically and real compensation also fell.
Upside
Breakout in the Japanese Yen starting???
CLICK
ON CHART TO ENLARGE
This multi-year chart of the Japanese Yen
(upper left) reflects that rising channel is in place looks to be in
place with support tested of late. Over the past couple of years a
bullish falling wedge could well have formed.
Is a breakout above the wedge taking place
while traders own positions where rallies often take place in the
Yen???
If the Power of the Pattern read is correct on
the Yen, it could have an impact on portfolio construction and risk
assets!
-
See more at:
http://blog.kimblechartingsolutions.com/2014/05/upside-breakout-in-the-japanese-yen-starting/#sthash.ITZ1Z28z.dpuf
This
only took place in 1999 & 2007…Now its happening again!
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ON CHART TO ENLARGE
Only
twice in 35-years has the NYSE
Index been at all-time highs, when the Russell 2000 broke below its
200MA line.
Those two times were in 1999 & 2007.
The above chart reflects where the S&P 500
was, when this took place.
Now its taking place for the third time in
three decades. Will the “Third Time be a charm” per being
different this time?
Stay tuned!!!
-
Is
the Bull Trend in Transports about to derail?
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ON CHART TO ENLARGE
The DJ Transportation Index is doing very well,
as it is at/near all time highs. With two thirds of the economy
fueled by the consumer, how these stocks perform can be viewed as a
barometer of how the economy is doing.
Rail Traffic looks to be in good shape at this
time, see below…
CLICK
ON CHART TO ENLARGE
The Strategy I
use is called TB&M, which stand for “Tops, Bottoms & No
Middles.” I attempt to find key highs and lows, where reversals or
exhaustion of trends might take place.
Without
a doubt, the trend
in the Transports is up right now,
no matter which way you look at it. The confluence of trend lines and
the Fibonacci extension has the “potential” to disrupt the trend
in the Transportation index.
With
the trend up, odds favor a breakout! Should
these resistance points at (1) change the trend, we might pay
attention to the potential message coming from Transports about the
direction of the economy.
-
-
See more at:
http://blog.kimblechartingsolutions.com/2014/05/is-the-bull-trend-in-transports-about-to-derail/#sthash.YMnSkkrU.dpuf
Time
to Worry About Stock Market Bubbles
Relative to long-term corporate earnings –
and more in a minute on why that measure is important – stocks have
been more expensive only three times over the past century than they
are today, according to data from Robert Shiller, a Nobel laureate in
economics. Those other three periods are not exactly reassuring,
either: the 1920s, the late 1990s and in the prelude to the 2007
financial crisis.
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