Daily Note

 

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GLOBAL MACRO MONITOR 

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United States Durable Goods Orders MoM was reported at -1.7% in Jul from 1% in the previous period. It was expected at -0.5%. 

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US Durable Goods New Orders Total Ex Transportation MoM SAAR 

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Capital Goods New Orders Nondefense Ex Aircraft & Parts MoM

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Capital Goods Shipments Ex Aircraft % 

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Baker Hughes Rig Count 

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Bloomberg World Index
Bloomberg World Index shows how bad the global market has been this year.  It’s trying to move up and could continue with the recent improvement in some markets.
-Hedge Fund Telemetry

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Hong Kong still struggling.
-Hedge Fund Telemetry

Hong Kong Seng Index 

Still struggling. -Hedge Fund Telemetry

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Nikkei 225 Index 

Nikkei is without any momentum. -Hedge Fund Telemetry

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NSE NIFTY 50 Index 

India Nifty Fifty Index on day 9 of 13 with red Sequential Countdown. -Hedge Fund Telemetry

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Italy Generic Govt 10Y Yield 

Today’s news reports that President Trump offered to buy Italian bonds is rather unprecedented.  He doesn’t drink (thank God) but maybe he just mentioned it to the Italian PM in passing.  Yields look higher on day 9 of 13  -Hedge Fund Telemetry

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SX5E EURO STOXX 50 

Euro Stoxx 50 still slowly moving higher.
Hedge Fund Telemetry

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In US Equity Markets the S&P 500 and the Nasdaq hit all-time highs on Friday after Federal Reserve Chair Jerome Powell said the central bank’s current approach to interest rate hikes were the best way to protect the U.S. economic recovery. The S&P 500 was up 0.52 percent, at 2,871.85 and the Nasdaq Composite was up 0.81 percent, at 7,942.05. Staples were hit by Philip Morris’s 3.3 percent decline and Altria’s 2 percent fell after brokerage Jefferies flagged concerns that the two tobacco companies could lose market share.

SPX bullish sentiment is at  66%. – Hedge Fund Telemetry

SPX daily upside Countdown 13’s still in play. – Hedge Fund Telemetry

S&P 500 Index 

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S&P Futures E-mini’s on day 11 of 13.  – Hedge Fund Telemetry

CME E-Mini Standard & Poor’s 500 Index 

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Nasdaq bullish sentiment is at 69%. – Hedge Fund Telemetry

NDX Index got the upside Sequential Countdown 13 today. – Hedge Fund Telemetry

NASDAQ 100 Stock Index 

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Nasdaq 100 Futures is on day 12 of 13. – Hedge Fund Telemetry

CME E-Mini NASDAQ 100 Index Future

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Dow Jones did not get above the January high and is stalling after some upside exhaustion signals. – Hedge Fund Telemetry 
Dow Jones Industrial Average
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IWM Russell 2000 got the upside 13 two days ago. –Hedge Fund Telemetry

iShares Russell 2000 ETF 

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SPDR S&P Retail ETF 

This is the weekly of XRT.  I expect a reversal in the coming weeks. –Hedge Fund Telemetry

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In Currency Markets the pound slid against the euro to its weakest since mid-September, hurt by a rally in the single currency and concerns about whether Britain can secure a post-Brexit trade deal with the European Union.

Sterling rose, however, against a dollar rattled by a speech by U.S. Federal Reserve Chairman Jerome Powell. But sterling fell to trade as weak as 90.390 pence per euro on Friday, a fresh 11-month low. The British currency rose as high as $1.2880, up nearly half a percent on the day, before settling around $1.2845.

US Dollar bullish sentiment is at 74% down from recent high of 96%.  At the time I said the USD will come back down. –Hedge Fund Telemetry

US Dollar 

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Euro bullish sentiment is at 33%. –Hedge Fund Telemetry

Euro Spot still not above the 50 day but close. –Hedge Fund Telemetry

EURO Spot Rate 

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Chinese Yuan.  I compressed this chart because it shows the downside wave 5 price objective of 7.2291.  If this breaks 7.00 things could get out of control with many other markets.
Hedge Fund Telemetry

USD-CNY X-RATE

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Australian Dollar bullish sentiment is at 40% and trying to move above 50%.
Hedge Fund Telemetry

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