Visitors Now:
Total Visits:
Total Stories:
Profile image
By Humble Student of the Markets (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

The market has spoken!

Wednesday, November 9, 2016 16:02
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Mid-week market update: Today’s market action should be a lesson to me to change model rankings based on overnight futures prices, which trades in a thin and volatile market (see What now?). To set the record straight, the Trend Model did not move to a neutral, or risk-off reading based on today’s market action. The change last night was based on ES futures falling 3-4% at the time of writing.

One common refrain made by politicians who concede elections is, “The people have spoken!” In this case, the market has spoken and it has decided to adopt the bullish view that Trump is a reflationary president, rather than the bearish view of Trump the protectionist. This interpretation was made evident by the rally in the cyclically sensitive industrial metals, even as gold prices fell.

B4INREMOTE-aHR0cHM6Ly8yLmJwLmJsb2dzcG90LmNvbS8tTWxjTGFEQVZYRFUvV0NPYjFhdklGcEkvQUFBQUFBQUFUbjAvcG5Id25Nb0RYSkF0UENrdmhMck9jb2N1dkktWlEyZXlRQ0xjQi9zNDAwL0JDT01JTi5KUEc=

From a technical viewpoint, the stock market’s behavior is showing a path to an uber-bullish outcome. As the chart below shows, the market is showing the combination of a fear unwind, indicated by the normalization of the VIX term structure from an inverted state, and two days where TRIN has dipped below 0.50, which is a signal of a buying stampede.

B4INREMOTE-aHR0cHM6Ly8yLmJwLmJsb2dzcG90LmNvbS8tWlN3S0FOUzVUNkkvV0NPY3djN0xEQUkvQUFBQUFBQUFUbjgvV3FyV3UxVlVBSGtKeGtHUmR6alNTNkFublFNSE9Bbk5RQ0xjQi9zNDAwL1RSSU4ucG5n

The full post can be found at our new site here.

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.