Morning Commentary
I must admit the strength exhibited in the closing bell yesterday was intriguing, although we put on a ‘long’ idea on the swing trading service at 3 PM. This market looks poised for a huge move higher.
The Relative Strength Index (RSI) and the Moving Average Convergence/Divergence (MACD) indicate much more room on the upside.
The Average Directional Movement Index (ADX) reveals there is weakness.
Broad Market Review
Ten of eleven sectors finished higher, but sadly, the only decliner was Financials (XLF).
Once again, the NASDAQ --100 (NDX) proves a body in motion stays in motion (big time). And airlines look very intriguing.
But companies outside the United States powered the move.
We are watching crude oil closely. There have been lots of false alarms, but this move should last to $80.00. A close north of that level will attract lots of buyers and potentially lift it to $85.00+.
Everyone is bracing for this morning’s read on inflation. Experts say don’t look for much of a decline in the headline numbers, and maybe, core numbers edge higher.
On that score, it was an odd close when all the pros are saying to keep your head down and hide in a bunker. Hmm…
Portfolio Approach
There are no sector changes this morning to our Hotline Portfolio Approach.
Today’s Session
There is a bunch of data out this morning, which has the probability of a 25-bps rate hike at the My FOMC a 50-50 proposition.
Personal income climbed 0.5% against the consensus of 0.2%, while personal spending came in at 0.2% against the consensus of 0.3%. Consequentially, savings are up again to 4.5% from 3.0% in September.
Personal Consumption Expenditure
Top Five Sub-Categories
Core Service ex-Housing declined to the lowest level in seven months.
I thought equity futures would have displayed more oomph. Maybe they will pick up,
Tweet |
5/9/2025 1:15 PM | Friday Fluctuations |
5/9/2025 9:25 AM | SO MUCH EXCITEMENT |
5/8/2025 1:49 PM | First Trade Deal |
5/8/2025 9:37 AM | POWELL SEES NOTHING |
5/7/2025 12:53 PM | Powell Under Pressure |
5/7/2025 9:48 AM | THE LUXURY OF BEING GREEDY |
5/6/2025 1:20 PM | Anxiety Continues |
5/6/2025 9:45 AM | ANXIETY RETURNS |
5/5/2025 1:18 PM | Market Consolidating |
5/5/2025 9:41 AM | MID-CAP MUSCLE |
5/2/2025 1:19 PM | Labor Market Resilience |
5/2/2025 9:57 AM | BACK TO THE STARTING LINE |
5/1/2025 1:31 PM | Big Tech Resilience |
5/1/2025 9:52 AM | MAMA SAID |
4/30/2025 1:35 PM | Midday Recovery |
4/30/2025 9:52 AM | BIG HITTERS ON DECK |
4/29/2025 1:49 PM | Fluctuating |
4/29/2025 9:48 AM | BUY SIGNALS & RECESSION TALK |
4/28/2025 1:22 PM | Earnings Angst |
4/28/2025 10:03 AM | BIG TEST |
4/25/2025 1:16 PM | Quiet Friday |
4/25/2025 9:57 AM | HYSTERIA TO HOPE |
4/24/2025 1:12 PM | Solid Session |
4/24/2025 9:35 AM | VIOLENT SWINGS AND THE RECOVERY |
4/23/2025 1:45 PM | Fears Ease |
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