May 2,2017 China Private PMI came out, it Missed Also. Plus, Shanghai Home Sales 5 year low

May 2nd, 2017

Well, many of the countries are back from holiday and we got a waive of PMI data tonight. The Chinese Caixin Number came in at 50.3% down .9% MoM.  EU PMI’s missed at 56.7 vs flash at 51.8%, Germany was inline with flash. RBA meet and left Interest the same, the talking points of a budget came out in Australia address an increase in Infrastructure Projects, that spiked up the commodities in the Shanghai Futures , yet that rally didn’t cross over to the europe session which has copper, etc down. VIX is at 10.10 in the second hour of the europe session…how low can this silly thing go? Our Futures are down just a small be at .07% with europe trying to press up. Oil is up .43%. Aud/USD is also up after the RBA left rates the same. BTW IF THIS IS IT, FINALLY our BUBBLE POPS…AAPL will be down BIG after the report AH. Slower China and VIX at 10…perfect storm…but I am a Bear.

May 2017

May 1,2017 Happy May Day..Will everyone go away in May?

May 1st, 2017

Almost everyone is on holiday today so not much is happening. China OFFICIAL Govt PMI came in on Saturday below expectations hitting 6 month low. Press is also coming out reporting that the US Govt shut down has been put off until September.

May 2017

April 28, 2017 EU CPI BEAT, ouch for Draghi QE forever dove. UK GDP misses

April 28th, 2017

Tonight the eur/usd is on take off mode, up .64% after a  beat on FLASH Core CPI data 1.9 vs expected 1.8, it hasn’t been this high since 2013. UK also missed on GDP data which is causing the Sterling Trade to sell off. Eur/GBP is up .34%, with the FTSE weaker. The vix is sitting at 10.33 ouch. Are Futures are flat. Today will be an interesting day to see if the buyers will come into AMZN and Alphabet like they were doing AH. I just finished reading through BIDU’s Conference Call, it reads more like a Sci Fi story vs a business story. They are REALLY focused in on AI and learning Human Thoughts (even though they have been loosing some of their top AI car guys)…lol, kinda scary. Just a part of the conference call “We envision a world where machines continue to learn about humans.” All of that goes to China’s Goal of becoming the new Silicon Valley. Shanghai Futures were flat again. Gold is up a tad with Russia cutting interest rates .25%. Oil is up over .71% too. Last day of the month so re balancing and window dressing are themes.

April 2017

April 27,2017 BoJ leaving everything the same, Draghi Talks later

April 27th, 2017

Tonight BoJ released the minutes of their two day meeting. Everything is OK and QE staying in place, with Inflation not building like they wanted so they lowered the goal level. This might read just like what Draghi will say today? Shanghai Futures were about flat. The Loonie is in full rally mode vs the dollar tonight on the delay of Nafta. USD/CAD down .40%. Oil is down too at about .71% . Our Futures are almost flat, up .07% with Europe down around .60% in the first hour. Eur/USD sits at 1.0903 and is flat. Peso up .94% over the dollar (normally there isn’t that much action this time of the day for them, fwiw). Shanghai Comp was down for most of the session before “mystery buyers” wink/wink came in and allowed it to close green. Aussie finally got a little bit of support with it finally green up .24% after the two day sell off, yet that was on a REALLY GREAT BEAT on China Indust Production data, so it is rather very weak. Amzn, INTC, SBUX, MSFT and Google makes it very wild day after the close. Xi was out talking about how he has to rein in China again.

April 2017

April 25, 2017 Theme of 2017 Huge Gaps, that don’t go anywhere

April 25th, 2017

If you pull up the 2017 SPX chart you will see about Four Huge Gaps. The first one hit 2,400 on the SPX which was an all time high on March 1. But, it retraced. The Second time around on March 15, it Gapped. But not as high and it faded. Then again on April 5, but again not as high, 2378…and it faded. The reason, well no Central Bankers to feed the kitty and China has not been joining the party with huge infrastructure spending. Tonight Australia and New Zealand are closed for holiday. CHina was out saying that there bad loans and capital outflow is getting better (but that doesn’t include shadow banking at all). Copper was up a yawn, but the other metals were flat or down in the Shanghai Futures. Gossip about Trump Corporate Tax Cuts play around. In the second hour of europe trade Futures are up .17%. The Eur/USD never could push higher then the pop on the election news last night and sits at 1.08927. This is day two of the PTJ rally. Yawn. Can’t we just fade? Today everyone will be watching for Nasdaq to hit 6000. Which 5559.00ish was 1.618% retrace off it’s 2000 highs. Too much air and the VIX is at 10. Trivia..All-time lowest VIX close was 9.31 on 22 December 1993. So far there have been only 9 trading days when VIX closed below 10.

(Available VIX data history goes back to January 1990)

April 2017

April 24, 2017 Day One of the “Tudor” Rally

April 24th, 2017

Well JPT and many others were calling for a rally after the election and they are buying it. LePenn did make it to the next round, but they are pricing in her defeat tonight. France is up 4% in the open. Euro is flying high. Party in the street with Futures up over .80%. But, Shanghai Futures didn’t react with the news at all. Metals were flat to actually down. EUR/USD so far could not hold the high 1.0936 after the news with EUR/GBP not holding 0.8515. BUT EUR/JPY 119.20 and USD/JPY very strong which shows “Risk Off” is strong, it’s just not coming through to the Global Growth stories of the Aussie or Kiwi at all.

April 2017

April 21, 2017 FLASH EU PMI’s beat estimates…Futures Flat

April 21st, 2017

Well, we got that amazing one day rally yesterday…yawn. Tonight we have the France, German, EU composite FLASH PMI beating estimates. Yet, aussie is almost flat. Our Futures are Flat. China is out tonight in the Global Times talking about how they want all their officials AND THEIR FAMILIES reporting off shore holdings (ouch). Shanghai Futures are up again tonight over that tax break news yesterday. Also, everyone is getting ready for the French Elections…JPT is out in Bloomberg tonight saying that the market will rally if we see a LePenn defeat (wonder if it already priced in?).

April 2017

April 20, 2017 China Is Giving a Tax Break cuz Economy is slowing in 2017

April 20th, 2017

Tonight we have Futures up .33% in the second hour of European Trade. Tax Break will be for lower income groups in China. Aussie Moved up and Commodities stop going down with Shanghai Futures about flat for copper. Hong Kong was up over 1%. Oil is also pushing up. Today we get a flood of earnings again, with V coming out at the close. France of course will be having the first round of elections on Sunday..Polls and bookmakers still reckon Emmanuel Macron is in the driving seat and Marine Le Pen will find it hard to get enough votes to pull off a shock victory. The much bubbled loved stock of all traders ISRG is hitting all time highs..fwiw, a lot of hope is on the fact China will buy a lot of the Di Vinci Robots.

April 2017

April 19, 2017 earnings continue, days of missing numbers and still rallying are gone

April 19th, 2017

Shanghai Futures continued to sell off the metals, our futures are slightly up in the first hour of europe trade with .16%. Today we get Blackrock and MS in the morning for earnings. API data tonight showed a drop of  840,000 barrels. yet it showed a climb of 1.4 million barrels in gasoline supplies, while inventories of distillates declined by 1.8 million barrels. Oil pulled back on that. So far companies have not been pushed up after misses this quarter. That was a constant theme over the last six plus years (glad that is gone).

April 2017

April 18, 2017 China Commodities Continue to Sell Off

April 18th, 2017

Still a bit confused on that rally yesterday? Anyway, China Shanghai Futures continue to slide down, Copper really took a hit. China Housing Data came in stronger in March then Feb which did not make the Chinese Govt happy at all with all the curbs they have added. FWIW, XIN Jiping, former vice chairman of Shanghai Land (Group) Co Ltd, was under investigation for serious disciplinary violations, the Party’s Shanghai Commission for Discipline Inspection said on its website on Monday. Aussie is down and our futures are down .16% in the second hour of europe trade. FTSE down over 1% led by commodity sell off.

April 2017