GLOBAL MACRO MONITOR
(Bloomberg) — The U.S. merchandise-trade deficit widened more than expected in July, while inventories increased at wholesalers and retailers, according to preliminary figures Tuesday from the Commerce Department in Washington. The goods-trade gap grew to $72.2 billion, the biggest since February, from a revised $67.9 billion the prior month, compared with the median estimate in a Bloomberg survey that called for a deficit of $69 billion. Wholesale inventories rose 0.7 percent, while retail inventories rose 0.4 percent.
United States Wholesale Inventories MoM Adv was reported at 0.7 in Jul from 0.1% in the previous period. It was expected at -0.2%.
United States Wholesale Inventories was reported at 0.7 percent in Jul 2018 from 0.1 in the previous period.
United States Redbook YoY was reported at 5.1 in 25/Aug from 4.7% in the previous period.
United States Redbook MoM was reported at 0.4 in 25/Aug from 0.2% in the previous period.
United States S&P/Case-Shiller Home Price MoM was reported at 0.5% in Jun from 0.7% in the previous period. It was expected at 0.6%.
United States S&P/Case-Shiller Home Price YoY was reported at 6.3% in Jun from 6.5% in the previous period. It was expected at 6.5%.
United States Case Shiller Home Price Index was reported at 213.07 Index Points in Jun 2018 from 212 in the previous period.
S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index
United States 4-Week Bill Auction was reported at 1.930% from 1.910% in the previous period.
United States 5-Year Note Auction was reported at 2.765% from 2.815% in the previous period.
Richmond Manufacturing Survey Current Manufacturing Composite SA
Conference Board Consumer Confidence SA 1985=100
Bloomberg World Index bouncing but still well off highs. –H.F.T
EEM Emerging Markets ETF still like it long. –H.F.T
EURO STOXX 50 Price (SX5E)
Euro Stoxx 50 still like it long. –H.F.T
German DAX needs to break the string of lower highs. –H.F.T
Euro STOXX Bank Price EUR (SX7E)
Euro Banks still look weak. –H.F.T
FSTE 1000 Index (UKX)
UK sideways. –H.F.T
FSTE MIB Index (FTSEMIB)
Italy couldn’t get moving much after the downside 13. No rush to buy Italian stocks.-H.F.T
Nikkei bullish sentiment is at 76%. – H.F.T
Nikkei should get the upside exhaustion in the next few days. – H.F.T
HSI Index Hong Kong Seng Index
Hong Kong traded up but closed near the low. Still more work needed. – H.F.T
India’s Nifty 50 on day 11 of 13 now. – H.F.T
SPX bullish sentiment is at 80%. – H.F.T
SPX daily with a green Setup 9 too. – H.F.T
S&P Emini Futures with both a Countdown 13 and Setup 9. – H.F.T
SPY vs TLT ratio did get the upside 13 too today. -H.F.T
Nasdaq bullish sentiment is at 80%. -H.F.T
Nasdaq 100 Futures September 18 (U)
NDX Index did have a recent upside exhaustion too. -H.F.T
Dow Jones Industrial Average has thrown over after the recent upside exhaustion signals – similar to what happened in late January too. -H.F.T
IWM Russell 2000 with green Setup 9 today. -H.F.T
US Dollar bullish sentiment is at 57% and down from 96% on 8/14. -H.F.T
US Dollar Index could see a bounce after the 9 tomorrow. -H.F.T
Euro bullish sentiment is at 47% and still under 50%. -H.F.T
Euro Spot same with 8/9 on the Setup as the USD. -H.F.T
Yuan strengthened last night a little but I still think this could be the 4th wave of 5 (5 will break through 7). -H.F.T
Gold bullish sentiment is at 42% and another new high for this move. -H.F.T
Gold still has work to do but it seems to be moving in the right direction albeit a bit slow. -H.F.T
CBOT Wheat Futures Dec’18 (Z)
CME Soybean Futures November ’18 (X)
CME Corn Futures December ’18 (Z)
Crude bullish sentiment is at 85% and is extreme. -H.F.T
CO1 (generic 1st ‘CL’ Future’ ) Brent
CL1 (generic 1st ‘CL’ Future’ ) WTI
Bond bullish sentiment is at 72%. -H.F.T
US 30-Year Yield
US 10-Year Yield
US 10 year yield I feel should move lower but it just can’t break the downside at 2.80%. -H.F.T
US 2s10s spread
US 5s30s spread
CBOE SPX Volatility Index
CBOE SKEW INDEX
Merrill Lynch Option Volatility Estimate MOVE INDEX
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