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Econ Analysis: CPI, Retail Sales

14 Apr

Airtime: Wed. Apr. 14 2010 | 8:30 AM ET
Parsing today’s economic data with John Brady, of MF Global, and the CNBC news team.

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28 Dec
Daily Market Commentary

Stocks Remain Strong As Home Prices Continue To Fall

Tuesday, December 28, 2010
Stock Market Commentary:

The recent tight trading range continued on the major averages as stocks looked past a stronger than expected retail sales report, the latest read on consumer confidence, and the latest read on housing prices. Heretofore, market internals remain healthy evidenced by broad leadership, favorable volume patterns, a rising advance/decline line, and a healthy number of new highs on both major exchanges.

Retail  Sales, Home Prices, & Consumer Confidence:

Before Tuesday’s opening bell, the ICSC-Goldman same-store sales index topped estimates. The index rose +1% and +4.8% on a year-on-year basis. The reading was the strongest since Easter which bodes well for the Q4 holiday shopping season. Elsewhere, the S&P Case-Shiller index of home prices slid -0.8% from October 2009 which was the largest year-over-year decline since December 2009.  The reading fell short of the Street’s estimates which put pressure on the ailing housing recovery. At 10 AM EST, the latest read on consumer confidence was released.

Market Action- Market In Confirmed Rally Week 18

It is encouraging to see the bulls show up in November and defend the 50 DMA lines for the major averages. The market remains in a confirmed rally until those levels are breached. The tech-heavy Nasdaq composite and small-cap Russell 2000 indexes continue to lead evidenced by their shallow correction and strong recovery. However, it is important to note that stocks are a bit extended here and a pullback of some sort (back to the 50 DMA lines) would do wonders to restore the health of this bull market. Put simply, stocks are strong. Trade accordingly. If you are looking for specific high ranked ideas, please contact us for more information.

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14 Dec
Daily Market Commentary

Stocks Digest Fed Meeting, Retail Sales, & PPI Data

Tuesday, December 14, 2010
Stock Market Commentary:

Stocks rallied as the USD fell and China said it will hold rates steady even though inflation is accelerating. Market internals remain healthy, evidenced by an advancing advance/decline line and an expanding number of stocks reaching new 52-week highs.

Retail Sales & PPI Rise; Fed Meeting:

US retail sales topped estimates and in November as holiday shopping began. The stronger than expected report was a welcomed sign and bodes well for the ongoing economic recovery. Elsewhere, the Labor Department said the US producer price index (PPI) rose last month by the largest amount in eight months due to higher food and energy prices. The PPI rose +0.8% from the prior month after a +0.4% rise. Core prices, which exclude food and energy, rose +1.2% from the same period last year which was the smallest increase in five months and matched estimates. At 2:15pm EST, the Federal Federal Reserve decided to hold rates steady and largely reaffirmed their recent stance on the ongoing economic recovery.

Market Action- Market In Confirmed Rally Week 16

It is encouraging to see the bulls show up and defend the 50 DMA lines for the major averages. The market remains in a confirmed rally until those levels are breached. The tech-heavy Nasdaq composite and small-cap Russell 2000 indexes continue to lead evidenced by their shallow correction and strong recovery. Put simply, stocks are strong. Trade accordingly. If you are looking for specific high ranked ideas, please contact us for more information.

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14 Sep
Daily Market Commentary

Stocks Consolidate Monday's Large Move

Tuesday, September 14, 2010 
Stock Market Commentary

Stocks ended mixed after August’s retail sales topped estimates and gold surged to a fresh all-time high. Tuesday’s volume totals were reported about even on the NYSE and higher on the Nasdaq exchange compared to Monday’s levels. Decliners led advancers by a small margin on the NYSE and on the Nasdaq exchange. New 52-week highs easily outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. There were 69 high-ranked companies from the CANSLIM.net Leaders List made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, lower than the 77 issues that appeared on the prior session.

Slower Growth in Europe Hurts Stocks:

Stocks in Europe were under pressure before Tuesday’s open after a report showed economic growth in the Eurozone was slowing. In the US, retail sales toppped estimates and rose by the largest pace in five months. The Commerce Department said total retail sales swelled by +0.4% following a revised +0.3% rise in July. This was the second consecutive monthly gain and bodes well for the economic recovery.  

Market Action- Confirmed Rally:

Tuesday’s action was considered normal after Monday’s large move. Overall, the action since this rally was confirmed on the September 1, 2010 follow-through day (FTD) remains healthy. Looking forward, the window is now open for disciplined investors to begin carefully buying high-ranked stocks again. It was encouraging to see a flurry of high-ranked leaders trigger fresh technical buy signals and break out of sound bases in recent sessions. All the major averages jumped above their respective 200-day moving average (DMA) lines today which is another encouraging sign. The next important level to watch for the major averages are their summer highs.  It is important to note that approximately 75% of FTDs lead to new sustained rallies, while 25% fail. In addition, every major rally in market history has begun with a FTD, but not every FTD leads to a new rally. Trade accordingly.

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