Indicators back in overbought mode,meaning we are near a top.But obviously the weekly charts give you better picture of price action and movement.
Read more…
The Chinese equivalent of our Federal Reserve Bank announced that it will shift from a “relatively loose” to a “prudent” monetary policy.(((((((what this means is that China is going to raise interest rates to keep inflation in check.)))))))China has a lot more weapons to fight inflation than we do. Namely that they control the prices of hundreds of goods, such as gasoline and pork. You’re going to read a lot about inflation picking up in China but it is pretty easy for a command economy to control inflation through price controls.
Read more…
----- Sunday, Dec 5th -----7:00 PM: Fed Chairman Bernanke discusses the economy on CBS 60 Minutes. This interview took place on November 30th.----- Monday, Dec 6th -----1:15 PM Richmond Fed President Jeffrey Lacker speaks at Charlotte Chamber of Commerce's "Annual Economic Outlook Conference."----- Tuesday, Dec 7th -----9:00 AM ET: Ceridian-UCLA Pulse of Commerce Index™ This is the diesel fuel index for November (a measure of transportation).10:00 AM: Job Openings and Labor Turnover Survey for October from the BLS. This report has been showing a general increase in job openings, but very little turnover in the labor market.3:00 PM: Consumer Credit for October. The consensus is for a $1 billion decline in consumer credit.----- Wednesday, Dec 8th -----7:00 AM: The Mortgage Bankers Association (MBA) will release the mortgage purchase applications index. This index declined sharply following the expiration of the tax credit, and the index has only recovered slightly recently.----- Thursday, Dec 9th -----8:30 AM: The initial weekly unemployment claims report will be released. The number of initial claims has been trending down over the last several weeks. The consensus is for a decrease to 425,000 from 436,000 last week (still high, but lower than earlier this year).10:00 AM: Monthly Wholesale Trade: Sales and Inventories for October. The consensus is 0.9% increase in inventories.12:00 PM: Q3 Flow of Funds Accounts from the Federal Reserve.----- Friday, Dec 10th -----8:30 AM: Trade Balance report for October from the Census Bureau. The consensus is for the U.S. trade deficit to be around $44 billion, the same level as in September.9:55 AM: Reuters/University of Mich Consumer Sentiment preliminary for December. The consensus is for a slight increase to 72.5 from 71.6 in November.After 4:00 PM: The FDIC might have a busy Friday afternoon ...
Read more…
For The Week Ending December 3, 2010 the Baltic Dirty Tanker Index rose 14.2%; Baltic Clean Tanker Index rose 8.9%.I would speculate that China resumed its imports pace and propped rates.Chart 4:Association of American Railroads U.S. Freight Carloads
For The Week Ending November 27, 2010 the U.S. railroads originated 254,121 carloads, up 3.2% compared with the same week in 2009 and down 14.3% compared with 5-year average. Week over week change was +14.2%.Thanksgiving week contributing to slower traffic
Read more…
Hopefully George Washington is wearing a parachute today as the U.S. Index plummets lower by 0.95 cents to $79.35. This decline in the U.S. Dollar Index is what has kept the stock market from tanking today. As we all know by now everything inflates when the U.S. Dollar Index declines. After a horrible job report such as the one that we all saw today from the U.S. Labor Department the stock market would normally be trading down sharply. However, the action in the U.S. Dollar Index is the only chart that matters when it comes to inflating the markets.
The U.S. Dollar Index is a weighted geometric mean of the dollar's value compared with the
* Euro 57.6% weight
* Pound Sterling 11.9% weight
* Canadian Dollar 9.1% weight
* Swedish Krona 4.2% weight and
* Swiss Franc 3.6% weight.
* Japanese Yen 13.6% weight.
Read more…
