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 

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

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.

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