Tuesday, January 31, 2017

WEDNESDAY 2/1/17; Global PMI’s; ADP Employment Report; ADP; D; EXC; IR; JCI; MPC; TUP; PMI Mfg Index; ISM Mfg Index; FOMC Rate Decision; VIX (Volatility) Flash Crashes to a 9-Handle then Flash Spikes; FB; CBT; CRUS; EW; IAC; MTW; NXPI; QRVO; TSCO

Today is the first trading day of the new month of February. New money usually enters the stock market the first day or three of the month which creates a 









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not trading after its earnings release. CRUS crashes -11%. EW -1%. IAC +1%. LM -5%. MTW collapses -6%. NXPI +0.3%. OI flat. QRVO -6.66%. SFLY crashes -16%. TSCO +3.6%. FB is up +0.9%.

Monday, January 30, 2017

TUESDAY 1/31/17; Cascading Global Selloff Continues; EOM (End-of-Month); BOJ Policy Decision; AET; COH; CNX; LLY; XOM; HCA; MA; NUE; PFE; SPG; S; TMO; UA; UPS; VLO; FOMC Two-Day Policy Meeting Begins; Chicago PMI; Consumer Confidence; AAPL; AMD; APC; EA; ILMN; X

Today is EOM. The monthly stock charts receive new data points. Euro 1.07. Dollar/yen 113.57. Pound 1.2496. Aussie dollar 0.7561. WTIC oil 52.64. Brent oil 55.23. Natural gas 3.23. Gold 1197. Silver 17.16. Copper 2.6675.

Australia, Japan and Korea stocks sink in the 







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At 8 PM EST (1 AM Wednesday morning London and GMT; 2 AM Frankfurt, Paris and Milan; 10 AM Tokyo), President Trump announces his pick for the US Supreme Court which is a conservative pick as expected. Aussie and Asia trading is underway.

Sunday, January 29, 2017

MONDAY 1/30/17; BOJ Two-Day Meeting Begins; Personal Income and Outlays; Global Stock Market Selloff; GGP; PKG; WERN

Many Asian markets are closed today for the Lunar New Year holiday including China, Hong Kong, Singapore, South Korea and Taiwan. Australia’s ASX 200 is 










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 too many idle hands in America and that lack of daily focus is the devil’s workshop. People need jobs. Society continues to break down for the last eight years after the financial crisis while the wealthy become filthy rich from the Federal Reserve’s easy  money policies. The huddled masses are losing patience with the Washington, DC, dysfunction, incompetence, corruption and crony capitalism. The media may be stirring up drama and social unrest that they will be unable to control.

SUNDAY 1/29/17; France Election; First US Soldier Dies on President Trump’s Watch

The second and final round of France elections for the Socialist party is underway 







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South Korea 2.19%, Canada 1.78%, Spain 1.57%, UK 1.47%, France 1.03%, Netherlands 0.59%, Japan 0.07% and Switzerland -0.13%.

Friday, January 27, 2017

SATURDAY 1/28/17; Year of the Rooster; President Trump Speaks with Prime Minister Abe, Chancellor Merkel, President Hollande, President Putin and Prime Minister Turnbull

SPX 2295 (at all-time highs). INDU 20094 (at all-time highs). COMPQ 5661 (at all-time highs). NDX 5168 (at all-time highs). RUT 1371 (near all-time highs). NYA 11339 (near all-time highs). TRAN 9469 (at all-time highs).

NIKK 19467 (at 14-month highs). SPASX200 5714 (at 19-month highs). KOSPI 2084 (at 18-month highs). SSEC 3159. HSI 23361. BSE 27882. DAX 11814 (at 20-month highs near all-time record highs). CAC 4840 (near 14-month highs). FTSE 7184 (all-time highs goosed by weak sterling (pound)). MIB 19329. IBEX 9504. PSI 4610 (near record lows; Portugal is the sick man of Europe).

The Chinese are 








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California courts rule that Monsanto must label its Roundup weedkiller as a carcinogen (a chemical that causes cancer in humans). MON may take a hit in Monday trading.

Thursday, January 26, 2017

FRIDAY 1/27/17; Chinese New Year; Year of the Rooster; APD; AAL; CVX; CL; GD; HON; COMPQ (Nasdaq Composite) All-Time Closing High; NDX (Nasdaq 100 Index) All-Time Record High; Durable Goods; GDP (Gross Domestic Product); Consumer Sentiment; UK PM May Meets with President Trump

Asia and Aussie markets begin trading higher. The NIKK is up +0.1% to 19429. The SPASX200 is up +0.6% to 5707.

Japan inflation data shows mild increases in inflation but









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At 7:07 PM EST (12:07 AM London Saturday morning; 1:07 AM Frankfurt; 9:07 AM Tokyo), the new moon peaks for the month. Stocks are usually weak moving through the new moon.

Wednesday, January 25, 2017

THURSDAY 1/26/17; Cascading Global Rally Continues; BHI; BX; BMY; CAT; CELG; CMCSA; DOW; F; JBLU; PX; PHM; RTN; RCL SHW; LUV; SWK; WHR; S&P 500 PRINTS 2300 FIRST TIME IN HISTORY; SPX (S&P 500), INDU (Dow Industrials), COMPQ (Nasdaq Composite), NDX (Nasdaq 100), NYA (NYSE Composite) and TRAN (Dow Transports) Print New All-Time Record Highs; Dow Theory Confirmation of Upside Rally; New Home Sales; Leading Indicators; Mexico President Pena Nieto Cancels Meeting with US President Trump; GOOGL; INTC; MSFT; SBUX; PYPL; ETFC; EMN; JNPR; KLAC; VMW; XLNX

Australia, Taiwan, Vietnam and India trading is closed today due to holidays. The cascading global rally has looped once around the world from the US to Asia to Europe and then to 








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 baby games continue with the demopublicans and republocrats. The democrats plan to pursue a scorched earth policy and fight Trump’s plans tooth and nail. The Washington, DC, dysfunction and bread and circus days continue. America is in sad shape in 2017 as the baby bickering continues among the millionaire politicians. Common folks struggle daily simply wanting a job that can support their families.

Tuesday, January 24, 2017

WEDNESDAY 1/25/17; Cascading Global Rally; VIX (Volatility) Prints a 10-Handle; ABT; BA; FCX; HES; HBAN; ITW; MKC; NSC; ROL; TXT; UTX; GWW; DOW JONES INDUSTRIALS PRINT 20,000 FIRST TIME EVER; INDU (Dow), SPX (S&P 500), COMPQ (Nasdaq Composite), NDX (Nasdaq 100) and NYA (NYSE Composite) Print New All-Time Record Highs; 5-Year Note Auction; T; EBAY; FFIV; FTK; LVS; MCK; MUR; QCOM; URI; VRTX; WDC

Euro 1.0728. Euro/yen 122.18. Dollar/yen 113.89. Pound 1.2531. Euro/pound 0.8561. Mexican peso 21.5244. Canadian dollar 1.3156. Dollar/yuan 6.8590. Indian rupee 68.145. Aussie dollar 0.7589. USD 100.29.

US futures are 








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Russian bombers are circling Japan remaining in international airspace. President Putin is testing President Trump by hassling Japan. Never one to hesitate at taking credit for events, President Trump proclaims that he is “very proud the Dow hit 20K.”

Monday, January 23, 2017

TUESDAY 1/24/17; US Dollar Index Prints 99-Handle; Global PMI Mfg Indexes; UK Court Decision on Article 50 and Brexit; AKS; BABA; GLW; DHI; DD; FITB; JNJ; KMB; LMT; TRV; VZ; Existing Home Sales; 2-Year Note Auction; SPX (S&P 500), COMPQ (Nasdaq Composite), NDX (Nasdaq 100) and NYA (NYSE Composite) New All-Time Record Highs; AA; COF; DFS; ISRG; STLD; STX; TXN

Euro 1.0765. The dollar/yen pair moves lower as the US dollar index trades lower. Dollar/yen 112.65. Pound 1.2531. Sterling ramps strongly higher from a low under 1.23 on Friday to above 1.25. USD 100. 18. WTIC 52.86. Brent 55.35. Natural gas 3.27. Gold 1217. Silver 17.24. Copper 2.65.







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The insiders at Wall Street banks are dumping shares. The executives in the banking industry are cashing out after the big rally since early November. The insiders are dumping shares while Ma and Pa Kettle, listening to talking heads on television, are running into the banking sector eager to buy the shares the insiders are selling. It appears prudent to not chase banks going forward and anyone that benefited from the rally in financials is wise to take the dough off the table.

Flash Crashes, Fat Fingers and Computer Glitches, Oh My! Now Available from Amazon

Flash Crashes, FatFingers and Computer Glitches, Oh My! summarizes the major system outages in global stock, bond, currency and futures markets since the infamous 5/6/10 Flash Crash. The flash crash events are chronicled in real-time as they occur and provide information not found elsewhere on the internet or in print.

Flash crashes and flash spikes are occurring in global markets and exchanges at an increasing and alarming rate. Exchange officials and regulators downplay the events so as not to cause a loss of confidence in markets. Flash Crashes, Fat Fingers andComputer Glitches, Oh My! highlights the flash crash and flash spike events in markets that the media neglected to mention. Is another 5/6/10 Flash Crash, or worse, on the horizon?

Sunday, January 22, 2017

MONDAY 1/23/17; HAL; MCD; PETS; President Trump Plans to Renegotiate TPP Trade Agreement; NDX (Nasdaq 100) New All-Time Record Closing High; YHOO; ZION

US futures are flat. S&P -1. Dow -1. Nasdaq -1. Russell -1. Australia’s ASX 200 begins trading marginally higher. Aussie dollar 0.7558. C downgrades the Aussie miners. 







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A chart that plots the ratio of US Jobless Claims to those employed is at record low levels. This is not surprising since businesses are at bare bone staff levels with no one left to layoff. The tens of millions of people out of work are no longer counted in the data so the employment numbers are deceivingly high. Interestingly, a recession occurs a few months after the excessive lows print on the chart in every instance over the last several decades.

SUNDAY 1/22/17; France Elections

Second-round primary elections are underway in France. The 






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US Treasury yields are; 2-year 1.20%, 5-year 1.94%, 10-year 2.47%, 30-year 3.05%. The 2-10 spread is 127 bips. The 5-30 spread is 111 bips. German bund 0.42%. The US-German 10-year yield spread is 205 bips. Japan 10-year yield 0.057%. Italy 10-year yield 2.01%. UK gilt 1.43%. France 10-year yield 0.92%.

Friday, January 20, 2017

SATURDAY 1/21/17

SPX 2271. INDU 19827. COMPQ 5555. RUT 1352. NIKK 19138. SPASX200 5655. KOSPI 2066. SSEC 3123. HSI 22886. BSE 27034. DAX 11630. CAC 4851. FTSE 7198. MIB 19479. IBEX 9380. PSI 4602.

A Women’s March on Washington occurs today and in 







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Former Ronald Reagan budget director David Stockman, never at a loss to provide dramatic words, says, “A financial meltdown is in the offing.” Stockman says, “There is no (Reagan) reincarnation coming” and “Trump will preside over a fiscal bloodbath.” Humorously, Stockman was not invited to the inauguration yesterday; the invitation must have gotten lost in the mail.

Thursday, January 19, 2017

FRIDAY 1/20/17; China GDP and Economic Data; Fed Chair Yellen Speaks; US Dollar Under 101; GE; KSU; RF; SLB; STI; SYF; OpEx; Donald J Trump Inaugurated as the 45th President of the United States; NDX (Nasdaq 100) Index Prints All-Time Record High

President-elect Trump becomes President Trump and President Obama retires at 12 noon EST today (5 PM London and GMT; 6 PM Frankfurt, Paris and Davos; 2 AM Tokyo Saturday morning). Festivities continue from last evening through the morning into mid-day. America will have a new orange-headed leader in a few hours.








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The US Senate is in session to likely approve the Secretary of Defense Mattis and one or two other cabinet members. President Trump will likely wait until Monday to begin issuing executive orders that will reverse many of President Obama’s executive orders. President Trump and family are in a grandstand at the Whitehouse enjoying the parade. The inauguration went very well today.

Wednesday, January 18, 2017

THURSDAY 1/19/17; Mexican Peso Weakens Past 22; ECB Rate Decision and President Draghi Press Conference; BK; BBT; KEY; MTB; JBHT; PPG; UNP; Housing Starts; Philly Fed Survey; NDX (Nasdaq 100) New All-Time Record High; AXP; IBM; SWKS; Fed Chair Yellen Speaks

Korean courts deny the request for an arrest warrant for Samsung executive Jay Lee. The decision will allow Lee to 







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US futures are flat. S&P +3. Dow -13. Nasdaq +8. Euro 1.067. Aussie dollar 0.7574. Dollar/yuan 6.8720.

Tuesday, January 17, 2017

WEDNESDAY 1/18/17; C; GS; USB; SCHW; FAST; CPI (Consumer Price Index); Industrial Production; Beige Book; Fed Chair Yellen Speaks; KMI; NFLX Prints Record High on Earnings

Australia’s ASX 200 is down -0.6% to 5666. New Zealand stocks sink -0.3%. In Japan, the NIKK and Topix indexes begin trading down -0.5% on a stronger yen (the dollar/yen pair is under 113). Korea’s KOSPI trades down -0.2% as Samsung’s executive Jay Lee arrives for a hearing to face corruption charges.







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The parties for the rich and famous continue in Davos. Pot-bellied billionaires pinch the bottoms of leggy waitresses that enjoy bending over while serving expensive brandy. A hilarious quote is being repeated by attendees at the event; “Davos is where the billionaires tell the millionaires what the middle class feels.”

Sunday, January 15, 2017

TUESDAY 1/17/17; UK May Speaks on Brexit; Pound Above 1.23; MS; UNH; Empire State Mfg Index; Fed Speak; CSX; UAL

US futures are trading soggy. S&P -6. Dow -48. Nasdaq -10. Russell flat. Australia’s ASX 200 is down -0.7% in the early going. Aussie banks are sinking -1% and more. Gold miners are a bright spot. Newcrest +1.3%. Cathay Pacific is overhauling its airline business which likely means canning employees so the stock jumps +3%.










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Americans are realizing how they were sold down the river over the last 40 years by the demopublicans and republocrats. Both parties have created the country’s mess one is as guilty as the other. The wealthy elite class in concert with the political establishment, and of course the central bankers, collude in a greedy Keynesian money-printing scheme over the last eight years to enrich themselves after the 2008-2009 financial crisis. The huddled masses are becoming more educated concerning the ongoing games of the privileged class. The fastest growing business in America going forward will be pop-up pitchfork and torch stores.

MONDAY 1/16/17; Dr Martin Luther King Jr Day; US Markets Closed; Shenzhen Index Mini-Crash -5.5%; Pound Pounded to a 1.19-Handle Testing Record Low; FTSE Record Intraday High; Davos Forum Begins

US stock and bond markets are closed for Dr Martin Luther King Jr Day. King is the famous civil rights leader. Trading resumes tomorrow. World markets are open and trading. Australia and New Zealand stock indexes are trading 








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Sadly, Gene Cernan, the last astronaut to walk on the moon, dies at 82. Cernan was very brave and at one point thought he may not be returning to Earth on the Apollo 17 mission but remained cool as a cucumber. Cernan often commented about climbing the ladder back to the space capsule after the last moonwalk.

SUNDAY 1/15/17; Israeli-Palestinian Peace Conference; Davos World Economic Forum

World leaders meet in Paris for the Israeli-Palestinian Peace Conference. Israel PM Netanyahu calls the conference, “Useless.” France sides more with the Palestinians than Israelis.

The World Economic Forum conducts its annual meeting in Davos, Switzerland. The global elite discuss the lives of the peasants while sipping expensive brandy and smoking Cuban cigars. The Davos aristocrats will 








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The famous Ringling Brothers and Barnum & Bailey Circus is shut down after 146 years. Excessive regulation claims another victim. Animal rights activists are successful in removing the elephants from the circus but ticket sales have plummeted and the show will no longer go on. The circus has to shut down placing workers in the unemployment line; elephants were more important than humans. The jobless will have difficulty finding new employment since bearded ladies, sword swallowers, jugglers and clowns are not exactly in high demand.

Friday, January 13, 2017

SATURDAY 1/14/17

SPX 2275. INDU 19886. COMPQ 5574. RUT 1372. NIKK 19287. SPASX200 5721. KOSPI 2077. SSEC 3112. HSI 22937. BSE 27238. DAX 11629. CAC 4922. FTSE 7338. MIB 19515. IBEX 9512. PSI 4615.









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 is great; if you are part of the privileged elite class playing by the different set of rules. Believers in liberty, Austrian economics and those that follow Friedrich Hayek and Adam Smith, are saddened watching free markets and capitalism spit on, distorted and destroyed.

Thursday, January 12, 2017

FRIDAY 1/13/17; Friday the 13th; China Trade Data; FTSE 14-Day Winning Streak and New All-Time Record High; US Bank Earnings; BAC; BLK; JPM; PNC; WFC; PPI (Producer Price Index); Retail Sales; Business Inventories; Consumer Sentiment; Dow 20K Watch; COMPQ (Nasdaq Composite) and NDX (Nasdaq 100) All-Time Record Highs

Today is Friday the 13th a very superstitious day. You will pay dearly if you walk under a ladder, step on a crack in the sidewalk or break a mirror. Traders are a superstitious lot. Will a black cat cross the path of the banks before they report earnings in the States in a few hours? A black cat may be perceived as bad luck in the United States but is actually good luck in India.

At 9 AM Tokyo (1 AM Frankfurt; 12 midnight London; 7 PM EST Thursday evening), Fed Chair Yellen is speaking at a town hall-style meeting with educators in Washington, DC. Her words 















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President-elect Trump said he would drain the swamp from Wall Street and Washington, DC, crony insiders. Instead, the orange-headed showman keeps adding former Goldman Sachs employees to his inner circle. Dina Powell and Anthony Scaramucci are the latest recruits. Scaramucci is a Wall Street insider; his nickname is the “Mooch.” The privileged elite class maintains the demopublican and republocrat system in the United States which guarantees continued wealth for the top 5% of America and control over the huddled masses.

THURSDAY 1/12/17; Mexican Peso Weakens to 22; Gold Above 1200; US Dollar Index Drops to 100-Handle; DAL; Import and Export Prices; President-Elect Trump Harpoons Pharma, Biotech and Defense Stocks; US Stocks Collapse; Banks Sink; FTSE New Record Closing High; Fed Speak Including Chair Yellen

The yen strengthens with the dollar/yen currency pair moving lower to a 114-handle. This sets the stage for losses in the Nikkei and Topix indexes. The yen is 









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Sadly and shamefully, in 2016, for the  first time in nearly four decades, more businesses closed in the United States than opened. This is due to the lack of demand for products in a sluggish economy, a disinflationary and deflationary environment, excessive regulation, higher minimum wages and high taxes. This is President Obama’s legacy but he forgot to mention it during the farewell speech last evening.

Tuesday, January 10, 2017

WEDNESDAY 1/11/17; Mexican Peso and Turkish Lira New Record Weakness; SVU; President-Elect Trump Press Conference; Pharma and Biotech Stocks Plummet; US 10-Year Note Auction; Dow 20 K Watch; COMPQ (Nasdaq Composite) All-Time Closing High; NDX (Nasdaq 100) All-Time High; KBH

Asia and Aussie markets are trading mixed in the early going. NIKK +0.4%. Topix +0.5%. ASX 200 +0.4%. KOSPI explodes +1.8% higher. China is soft. SSEC -0.2%. CSI300 -0.2%. Hong Kong rallies. HSI +0.8%. Taiex is flat. Straits times +0.2%.








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The republican-controlled Senate takes the first step in repealing and replacing the troubled Affordable Care Act (ACA; Obamacare). Committees will now develop legislation for the new plan; perhaps it will take on the moniker “Trumpcare.”

Monday, January 9, 2017

TUESDAY 1/10/17; China Inflation Data; Turkish Lira Record Low; Mexican Peso Record Low; Another FTSE Record High; COMPQ (Nasdaq Composite) and NDX (Nasdaq 100) New All-Time Highs; Dow 20K Watch; Wholesale Trade; JOLTS Report; 3-Year Note Auction; President Obama Farewell Speech

Asia and Aussie markets are trading mixed in the early going many indexes are flat. Japan is trading after yesterday’s holiday the NIKK up +0.1% and Topix up +0.2%. Otsuka Pharma +9%. Takeda Pharma gains +1.4% after yesterday’s news of buying ARIAD Pharma. ARIA jumped a humongous +73% in the States yesterday.





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At 9 PM EST (2 AM London Wednesday morning; 3 AM Frankfurt; 11 AM Tokyo), President Obama says farewell to the presidency in his final official speech. The president has been overshadowed by Trump’s larger than life personality which dominates the daily news flow. The president is embellishing his legacy.

Saturday, January 7, 2017

MONDAY 1/9/17; Pound is Pounded to a 1.21-Handle; Turkish Lira Record Low; FTSE Record High; COMPQ (Nasdaq Composite) and NDX (Nasdaq 100) Prints New All-Time Record Highs; Dow 20K Watch; Q4 2016 Earnings Season Begins; CUDA; WDFC

Euro 1.0532. Euro/yen 123.38. Dollar/yen 117.18. Pound 1.2258. Euro/pound 0.8592. Mexican peso 21.2492. Canadian dollar 1.3247. Dollar/yuan 6.9241. Indian rupee 67.9637. Aussie dollar 0.7298.








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The stock market experiences record inflows of $100 billion after the surprise Trump election in November. This huge influx of money into funds, a record amount into ETF’s, has only been seen at significant market tops such as the 2007 stock market top and the 1999-2000 dotcom bubble top.

SUNDAY 1/8/17

In Jerusalem, a Palestinian goes berserk and runs over people in a large box truck. Four are killed and 17 injured. The Islamic nutcase is connected to the ISIS radicals; he was carrying out the scriptures in the Quran that dictates the killing of the infidel (Christians and Jews). Terrorist attacks around Jerusalem will further destabilize the Middle East.

The battle in Mosul, Iraq, continues for three months with no end in sight. Iraqi troops, with the support of 






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NDX 5020.70 and 5007.08 both on 1/6/17. NYA 11264.17 and 11247.70 both on 1/5/17. TRAN 9490.29 on 12/9/16 and 9421.08 on 12/8/16.

Friday, January 6, 2017

SATURDAY 1/7/17

SPX 19964. INDU 19964. COMPQ 5521. RUT 1367. NIKK 19454. SPASX200 5756. KOSPI 2049. BSE 26759. DAX 11599. CAC 4910. FTSE 7210. MIB 19688. IBEX 9516. PSI 4703.








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In Guadalajara, Mexico, a US consular official is wounded by a gunman. Guadalajara is Mexico’s second largest city. Perhaps the heated trade war rhetoric between Mexico and the United States is bringing nutcases out of the woodwork.

Thursday, January 5, 2017

FRIDAY 1/6/17; US Monthly Jobs Report; Fed Speak; SPX (S&P 500), INDU (Dow), COMPQ (Nasdaq Composite) and NDX (Nasdaq 100) New All-Time Record Highs; Dow Prints 19,999 Only 37 Cents from 20,000; Dow 20K Watch Continues

US futures are flat as the hours begin to countdown to the jobs report. S&P +1. Dow flat. Nasdaq -1. Asian and European trading may be quiet overnight waiting on the BLS report.








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Donald Trump says the intelligence information proves that the Russian cyber hacking did not cause Clinton’s election loss. Her non-charismatic personality, poor campaigning, decision to ignore the rust-belt states, secretly hiding a server handling secret military information, alleged corruption at the Clinton Foundation, and other nefarious activities caused her defeat. On Saturday two weeks from now, America begins its journey with President Trump.

Wednesday, January 4, 2017

THURSDAY 1/5/17; Chinese Yuan Strengthens; Turkish Lira Record Low; WBA; STZ; MON; Challenger Job-Cut Report; ADP Employment Report; Bitcoin Crashes -16%; Mexican Peso Record Low Central Bank Intervenes; Portugal 10-Year Yield Blowing Out Above 4%; Dow 20K Fades; Bloodbath in Retail Stocks; PMI Services Index; ISM Non-Mfg Index; FTSE Prints Record Highs; COMPQ (Nasdaq Composite) Prints All-Time Closing High; RT

Australia’s ASX 200 is up +0.3% out of the gate to 5756 printing highs not seen since June 2015. The NIKK and Topix are trading flat. The KOSPI is down -0.2%. Euro 1.0522. Dollar/yen 116.81. Pound 1.2338. Aussie dollar 0.7292. Dollar/yuan 6.9342. USD 102.37.








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GPS pops +12% on strong sales. Other retailers such as M, KSS, SHLD, AEO, BKS and COST report lackluster sales. Online sales are the big winner in December. Amazon is king.

Tuesday, January 3, 2017

WEDNESDAY 1/4/17; NIKK (Nikkei Index) Rallies +2.5%; PMI Services Indexes; UNF; Dow 20K Watch; FOMC Minutes; Mexican Peso Record Low; Bitcoin All-Time High; Record Auto Sales; NYA (NYSE Composite) Prints New All-Time Record Closing High; SONC

Euro 1.0415. Dollar/yen 117.63. Pound 1.2236. Canadian dollar 1.3421. The Mexican peso weakens to 21.1136 (a higher currency pair number reflects a weaker peso). President-elect Trump’s anti-trade and protectionist rhetoric yesterday creates the weakness in the peso. Dollar/yuan 6.964. Aussie dollar 0.7228. USD 103.20.







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Protestors demonstrate at the Goldman Sachs office lobby in New York City displaying a banner that says, “Government Sachs.” The protestors complain that Trump was supposed to drain the swamp but instead he is loading his cabinet with former Goldman Sachs investment bankers. Why is anyone surprised? In the crony capitalism system, the demopublicans and republocrats are simply two sides of the same coin.

Monday, January 2, 2017

TUESDAY 1/3/17; Asia Economic Data; PMI Mfg Indexes; Natural Gas Crashes -11%; FTSE Prints Record High Above 7200; Turkish Lira Record Low 3.60; WTIC Oil Rallies Above 55; Brent Oil Above 58; ISM Mfg Index; Dow 20K Watch; Oil Collapses

Japan, New Zealand and Thailand stock markets remain closed today. US stocks and bonds will resume trading. At 10 AM Sydney time (6 PM EST Monday evening), the ASX 200 gains +0.1%. ANZ Bank rallies +1.5% on news of selling off its Shanghai unit (to unlock value and shore up the balance sheet). Aussie miners are strong but the gold miners are soggy. Iron ore is down -2%. Aussie dollar 0.7198.








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REGN sinks -2.4% on news that Regeneron loses a patent battle with Amgen. AMGN +0.9%. GILD trades marginally lower after executive changes are announced.

Sunday, January 1, 2017

MONDAY 1/2/17; Global PMI Mfg Indexes; Bitcoin Tags 1000; US Markets Closed

US markets are closed and will resume 








[Text is redacted. Purchase the 2017-01 chronology to enjoy January's economic and market history including Dow 20K and SPX 2.3K.]







 systems go down for a few hours in the evening creating long wait times at airports for travelers entering the United States. The Miami and Atlanta airports are the most impacted. The US government does not provide a reason for the outage. Perhaps the security forces simply wanted to check people more closely that were entering the country via Miami or Atlanta; a computer outage is a convenient excuse to perform a more robust screening.

December Publication of the Daily Chronology of Global Markets and World Economics 2016-12 is Available from Amazon; Stocks Print All-Time Record Highs SPX 2278 INDU 19988 COMPQ 5512 RUT 1393 NDX 4992 FTSE 7143; FOMC Raises Rates 12/14/16; 2016 Market Statistics; Trump Rally; Global Populism; US Dollar Above 103; Italian Bank Trouble; Dow 20K Watch Continues; Dow Theory Confirmation

The December Publication of the Daily Chronology of Global Markets andWorld Economics 2016-12 is available through Amazon. The epic market action continues with the Trump Rally marching on from November through December.

December’s Cover Highlights;
FOMC RAISES RATES
STOCKS PRINT ALL-TIME RECORD HIGHS
SPX 2278 INDU 19988 (only 13 points away from 20K!) COMPQ 5512 RUT 1393 NDX 4992 FTSE 7143
DOW 20K WATCH
DOW THEORY CONFIRMATION
2016 MARKET STATISTICS
TRUMP RALLY
GLOBAL POPULISM
ITALIAN BANK TROUBLE

The month of December is historic. The Italian referendum shows the door to PM Renzi. Stocks fall for a few minutes then rally strongly just like after the Brexit vote and US election. The stock markets do not sell off to any great extent since traders know the central bankers will keep pumping equities higher with easy money.

The Fed raises rates in mid-December and stocks rally again. The bulls are buying stocks with reckless abandon. The Dow 20,000 watch continues with the INDU, or DJI, coming within 13 points of the coveted 20K only to fall on its sword to end the year. A Dow Theory confirmation signal was given when the trannies (TRAN; Dow Transports) printed a new all-time record high confirming the highs on the Dow Industrials. However, the transports have driven lower in the back half of December.

The Italian banking problem continues to fester and stink like garbage in the hot summer sun. Monte dei Paschi, the world’s oldest bank, is also the biggest piece of rubbish. Central bankers are figuring a way to bailout the troubled lender but the problems continue with other Italian banks as well as Portuguese and Spanish banks. Any of these banks may create global contagion a la Lehman Brothers in late 2008 that precipitated the global financial crisis. The global populism movement continues with elections on tap this spring in Netherlands and France.

The chronology explains the reaction in stocks, bonds and currencies to key events and economic data releases. If you are trying to make sense of the markets this is the resource for you. No other publication exists in this format where the stock, bond and currency moves are provided and explained as world events take place in real-time. You can re-live the real-time price moves and excitement in markets for any past event including Brexit, the US election, economic data releases, Fed meetings, etc...

The chronology records economic history preventing revisionist tampering in future years. Many of the same asset managers telling everyone to go long the market in 2007-2008 repeat the same mantra in 2015-2016. The stock market topped out in May 2015 which places anyone that listened to television pundits over the last couple years either flat or underwater on their long trades. The global central banker go juice has pumped stocks higher from February of this year creating new all-time highs and rewarding the Keynesian loyalists.

Analyst and strategist quotes and words are recorded in the chronology so credit or disdain can be handed out in the future. If a multi-year top is printing, the chronology serves as the most accurate accounting of the stock market topping process ever recorded in economic and market historyThe chronology is the most reliable and easy to understand source for explaining global marketsThe chronology is cheap and very easy to read and avoids using fancy ten-dollar college words.

As always, all monthly publications of the Daily Chronology of GlobalMarkets and World Economics are available from the links in the margins or simply searching on Amazon or Google. The monthly publication contains updated information not posted on this web site as well as clarifications, edits and refinements to the ongoing daily blog text.

We are living through historic stock market and economic times. The daily chronology is the most accurate accounting on how the stock market tops and bottoms occur in real-time. The monthly publications are compatible with any electronic device and include an extensive Business Acronym List and Ticker Symbol List. The Acronym List is the most comprehensive business-related acronym list available on the internet. The chronology is not available in hard copy and only distributed around the world electronically.

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SUNDAY 1/1/17; Happy New Year; China PMI Mfg Index

At 1 AM Turkey time (5 PM EST), an ISIS Muslim fanatic, dressed as Santa Claus, walks into the Reina nightclub in Istanbul and murders 39 people and wounds 










[Text is redacted. Purchase the 2017-01 chronology to enjoy January's economic and market history including Dow 20K and SPX 2.3K.]












stocks are likely overvalued by 20% to 80%. Watch your wallet in 2017.