Friday update

SHORT TERM: US and many Western markets closed

Found a few Asian markets open today that had a net loss of 0.7%. A couple of economic reports were released at 8:30. The CPI was reported lower: -0.3% v 0.1%, and retail sales were reported lower: -0.2% v 0.1%. Reports for this week were mostly negative. Around 11am the Q1 GDP estimate was lowered to 0.5% v 0.6%. On a brighter note Q1 GAAP earnings were reported +6.1%. The SPX gained 5.3% during Q1. Enjoy your holiday weekend!

MEDIUM TERM: downtrend

LONG TERM: uptrend

CHARTS: https://stockcharts.com/public/1269446/tenpp

About tony caldaro

Investor
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18 Responses to Friday update

  1. bud67 says:

    The NY A/D line chart is at an interesting juncture. But,
    the purpose of this comment, is to depict the same pattern
    we have seen before in the past. April 2015, to be exact.
    Back then, the OEW MACD pattern, appears to be seen
    once again, this this weekend.
    http://stockcharts.com/public/1269446/chartbook/466000296
    Simply put, the Ny A/D line now looks very similar in pattern
    and strength – if my guess is correct, we are looking at a
    significant price top pattern forming, now.in the OEW NY A/D
    line….yet. The major NY A/D top, does not suggest the price
    top is complete, just that we are now looking for a more final,
    A/D line topping pattern to evolve, in the near term. This
    is just one Bearish, SP500 pattern in the development stage….end

    • bud67 says:

      XLF, is now nearing a trading low, maybe not quite yet.
      But, is does appear to be forming a trading low, near term.
      Best guess, is an intraday day low to form near 22.50…

  2. bud67 says:

    My wishes are with you, as well, Tony C,

  3. Simply another opinion:

    Elliottwave Forecast‏ @ElliottForecast Apr 13
    More
    $ES_F can see a bounce from 2326 – 2317 area in 3 waves at least and can fail below 2375 high #Elliottwave $SPY $SPX
    0 replies 0 retweets 4 likes
    Reply Retweet
    Like 4
    Elliottwave Forecast‏ @ElliottForecast Apr 13
    More
    $ES_F made a push lower today as expected and reached 2326, 100% extension from 2375 peak. $SPY #Elliottwave

  4. One of the many retired generals they interview of FOX downplayed anything happening this weekend from the US.”Hey,they’ve tested nukes before,nothing to go to war over.”
    I almost believe him.

  5. torehund says:

    Talking about trend reversals, they really bite. A United passenger was stunged by a scorpion that suddenly fell down from the baggage closet. What can go wrong goes wrong at the top of a cycle.

  6. Here’s some good news for a change;
    A whopper of an asteroid will make a close approach to Earth on April 19. There’s no need to panic, though; NASA says it won’t collide with our planet. But it will get extremely close for an asteroid of that size.

    Named 2014 JO25, this giant space rock measures approximately 2,000 feet across — about the height of the Shanghai Tower, China’s tallest building and the second-tallest building in the world. It will pass by Earth at a safe distance of 1.1 million miles, or nearly five times the distance between the Earth and the moon.

  7. fotis2 says:

    Thanks Tony Happy Easter to you and your family and Happy Easter to all the contributors on site have a great one guys and gals!

  8. vivelaamo says:

    Thanks Tony and thanks for the blog. I just don’t get the bears. What do they want in life?

  9. Jack Sparrow says:

    Phil- question for you..i remember you mentioning once you dont pay for trades..how do you get to do that..thanks

    • aahmichael says:

      Don’t know who Phil uses, but Merrill Lynch has a program called Merrill Edge, which gives their clients 100 free online trades per month with a minimum account balance of $100k. There are transaction fees, but no commissions.
      https://www.merrilledge.com/

      • I have one of those “Edge” accounts.
        I think (but don’t know for certain) that those trades are routed to market makers who already have a markup in it. Hence, no commission.
        In other words, I don’t believe in the free lunch.
        Sorry, I don’t know this for a fact.
        One of these days, I’ll check it.

  10. Tony you are tireless…….enjoy the WE. Next week should be interesting.

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