RaginCajun: The stock market is caught deep in ‘no man’s land’
Where is this market headed? It’s anyone’s guess.
The best description of the docile trading lately may be Mark Newton’s characterization: no man’s land.
“Everybody is sort of scratching their heads about this market,” Newton, an independent technical analyst and financial blogger, told Marke****ch. “It is a challenging market to have any conviction, really on either side [up or down],” he said.
Newton added that the level of disgruntlement in the market is high given that the S&P 500 (SPX) has hovered around 2,140 since June
Underscoring that point, the S&P, the Dow Jones Industrial Average (DJIA) and the Nasdaq Composite (COMP) are trading nearly flat over the past 30-day period, according to FactSet data.
“It is tough to argue that we’ve seen the level of complete washout that might help support higher prices,” Newton said. He also points out that just about a third of S&P 500 stocks are trading above their 50-day moving averages, suggesting that the stocks are losing momentum and that rallies haven’t been beneficial to market breadth.
Part of the sideways trade stems from uncertainty surrounding the upcoming U.S. presidential election between Democratic nominee Hillary Clinton and Republican candidate Donald Trump, even as the winner appears to be more apparent with the final presidential debate in the books.
The markets may have more room to fly after Election Day on Nov. 8.
But central bank moves seem to be a bigger influence. The belief that the Federal Reserve will hike rates in December — not at its next meeting in November with the White House in play — is near its highest of the year, with the market pricing in a roughly three-out-of-four chance that a hike will occur in the Fed’s final meeting of the year, according to CME Group data.
Those probabilities have lifted the dollar, as measured by the ICE U.S. Dollar Index (DXY) as high as 98.40, its highest since February. A rising buck may, supported by climbing rate-hike hopes, continue to put pressure on earnings by multinational corporations.
European Central Bank President Mario Draghi on Thursday didn’t really help matters much, although he may have quelled some fears that the central bank could end its stimulus efforts abruptly.
Marke****ch’s Tomi Kilgore points out that the Dow has closed below its 50-day moving average for 30 days straight, but hasn’t dipped below its 200-day average. It is the longest such stretch since in about three decades.
The Dow has traded below its 50-day moving average for 30 days straight.© Provided by Dow Jones & Company, Inc. The Dow has traded below its 50-day moving average for 30 days straight.
Although that factoid may be apropos of nothing, it’s one more statistic that highlights the level of torpor the market is experiencing.
Optimism, however is a persistent force. Andrew Adams, analyst at Raymond James, is encouraged by reports that S&P 500 companies may break out of their earnings recession in the third quarter. Still, he admits that the market has work to do to stay above water.
“The S&P 500 still has some work to do to get over the 2,160 zone that will likely attempt to halt the gains, but I am hopeful it can leave that key 2,120 support level in the dust here soon. After all, life is simply easier when you have some support underneath you,” he writes.
William A. Delwiche, investment strategist at Robert W. Baird, says although the “absolute trend has stalled,” bullish trends remain in emerging markets and in broker/dealer shares. Those areas tend to be leading indicators of the market’s overall performance, Delwiche says.
Banks and brokers are in line to benefit from higher rates, which support their business models. The NYSE Arca Securities Broker/Dealer Index (XBD) which tracks the broker-dealers is up about 0.4% over the past 30-days and 7.9% over the past three months (see chart below).
Newton says that a move for S&P 500 futures (ESZ6) back above at least 2,150 is necessary to argue that a larger rebound is underway in the market, while a move under 2,116.75 (Monday’s low) would be a negative.
“For now, it’s simply “no man’s land for U.S. equities,” he wrote Wednesday.
Four3atous: Welcome back to planet earth, space rangers= http://www.bloomberg.com/news/articles/2016-10-21/hedge-fund-managers-struggle-to-master-their-miserable-new-world
Four2atous: How would you react?= http://www.reuters.com/article/us-usa-philippines-relations-idUSKCN12K2RS
Angel: Zim finally settles IMF debt
Malcom Sharara | Fin24 09:45 21/10/2016
Harare - Zimbabwe has finally paid off its 16-year debt to the International Monetary Fund (IMF) as part of its arrears clearance strategy with multilateral institutions.
According to a statement released by IMF director of communications Gerry Rice on Friday, Zimbabwe settled its financial obligations on Thursday.
“On October 20, 2016, Zimbabwe settled its overdue financial obligations to the Poverty Reduction and Growth Trust of the IMF. Zimbabwe had been in continuous arrears since 2001." The amount paid was about $107.9m.
“Zimbabwe is now current on all its financial obligations to the IMF,” said the fund. Zimbabwe is in arrears on most of its external official debt.
Last year at the annual IMF and World Bank meetings in Lima, Zimbabwe and its preferred creditors came to a consensus that the country had to clear its $1.8bn arrears for re-engagement and financial support talks to begin.
ShastaConnect: Remember when Tony and DC talked about "making a market"? To those of you hold Zimbabwe Bank Notes ... check out this article on front of Bloomberg News today ..... http://www.bloomberg.com/news/articles/2016-10-21/new-zimbabwe-currency-stirs-memory-of-500-000-000-000-inflation
DSM: I may not understand what the article on bloomberg is saying but, but it sounds like they are trying to bring back the 100T/2008 into circulation (in country only)?
Wasu: DSM - They still cannot borrow according to this > https://www.google.com/amp/mobile.reuters.com/article/amp/idUSL1N1CR03P
Servantman77: What a hoot, ISIS escaping in drag...https://www.thesun.co.uk/news/2013137/mosul-cowardly-isis-commanders-escape-with-their-wives-and-girlfriends-as-jihadis-are-caught-on-the-run-disguised-in-womens-clothing/
Nadita: How interesting .... I never thought that Money has different names!!!
In temple or church, it's called donation.
In school, it's fee.
In marriage, it's called dowry.
In divorce, alimony.
When you owe someone, it's debt.
When you pay the government, it's tax.
In court, it's fines.
Civil servant retirees, it's pension.
Employer to workers, it's salary.
Master to subordinates, it's wages.
To children, it's allowance.
When you borrow from bank, it's loan.
When you offer after a good service. it's tips.
To kidnappers, it's ransom.
Illegally received in the name of service, it's bribe.
The question is, "when a husband gives to his wife,what do we call it???
ANSWER: Money given to your wife is called DUTY, and every man has to do his duty
because wives are not DUTY FREE...lol
New Republic via a GCR Update as of Oct. 21 2016
Compiled in the early morning hours of 21 Oct. 2016 by Judy Byington, MSW, LCSW, ret, Author, "Twenty Two Faces," www.22faces.com, CEO, Child Abuse Recovery www.ChildAbuseRecovery.com
A. Republic Update Thurs. Oct. 20 2016: "Released" - New Republic Update - Thursday - Octobe...
1. M1 released the GCR/RV on Wed. Oct. 19 2016 at 3 pm EST.
2. The World Court then released a ruling that all GCR/RV funds globally were to be released, and gave clear arrests orders for anyone attempting to stop said release.
3. World court attorneys then issued an injunction that all elections globally were to be immediately suspended in order to bring forward NESARA.
4. After these rulings and injunctions, new USN currency was transferred into exchange centers nationally for private redemptions this weekend.
5. Higher security levels and extended perimeters were also put into place as of 4 pm EST today Oct. 20 2016 around all financial institutions.
6. There are 22,000 ZIM purchased holders total in the US.
7. Current Wells Fargo Screen Sovereign Rates show:
$ 8,050 ZIM
$ 221 IQD
$ 221 IRR
$ 128 VND
$ 102 IDR
$ 10 AFA
8. All first basket currencies are to be redeemed at their printed face value.
9. Redemption rates will vary with individual humanitarian and job creation aspirations.
10. No one will be forced to accept more than what they are comfortable managing.
11. 60% of ZIM holders are expected to be processed within first 12 hours;75% in the first 24 hours; 90% in the first 36 hours; 95% in the first 48 hours, while 5% were not expected to be paying initial attention.
12. Wells Fargo-Abbot Downing annex exchange locations will be kept open for remaining slow awakening ZIM holders.
13. ZIM holders will receive the first toll free appointments at ZIM specific exchange locations where Abbot Downing teams are waiting to assist.
14. Sudden redemption wealth is considered generationally transferable because all redemption deposits are now continuously held within the new global trust system.
15. This same global trust system guarantees 100% of deposits (in precious metals) and thus is fully insured by the global collateral accounts. Translated: Your money is safe both short and long.
16. As part of his negotiated executive amnesty package, US President Barak Obama will be resigning, along with VP Joe Biden.
17. Newly sworn in Republic President Paul Ryan (in Reno on an Indian Reservation in order to uphold the Constitution - can't do that if sworn in in D.C.) will assume the office of the President via the normal Constitutional line of succession.
18. Jan. 3 2017 elections are still predicted, but Ryan will run as the Republican nominee, not Trump. He will run as the incumbent Republican presidential candidate.
19. Last year Trump was asked to front run for Ryan and bring in younger, disenfranchised voters to the Republican party, as well as point out all the corrupt practices of the USA, Inc. Cabal - while always knowing he would never be President.
20. The private redemption 800# releases are tied into the executive branch resignation announcements which are expected either primetime Thurs, or Friday.
21. Public redemptions for all currencies expected to begin early this weekend on Sat.
22. There is a 1.5 hours lead time in place for Call Centers to manage the initial toll free number release rush before 6,800 exchange centers will be expected to begin processing first redemption appointments.
B. Oct. 20 2016 Bruce's The Big Call: The Big Call
1. Rates are set, high and going up. You can negotiate for the rates you want.
2. The Zim is in four figures.
3. Some of the other currencies are high also.
4. Tier 2 and 3 banks will be participating
5. This week large tranches of funds in the quadrillions have been moving from Asia to US banks.
6. They are wiping out the world debt. There will be a world-wide debt forgiveness.
7. Nation to nation debt was wiped out as per the Paris Agreement.
8. We might be looking at wiping out personal debt, but we don't know as yet.
9. Iran and Iraq will be prominent in the next couple of days.
10. There was an extension from yesterday to today, so things had to be reset on the CIPS computer system and that takes a little while to do.
11. Tank: All of the intel is leaning toward 800#s release in the near future. Things happened today that were a surprise and leaned toward release of those 800#s real soon.
C. Oct. 20 2016 Okie on Twitter: I still stick with my sources saying Oct. will be a month to remember. Every hour I'm getting additional confirmation of that fact.
D. Oct. 20 2016 WSOMN AdminBill: The news I am hearing is very encouraging. We are very near. Look for the RMB to become gold backed, along with the announcement that such has taken place. Potential for a rate increase fairly soon has improved in the last 24 hours. This is a heads up, not a tornado alert..
E. Oct. 19 2016 RayRen98:
1.Iran says they are going to revalue their currency on Oct. 22 2016.
2. We’ve always heard that Iran and Iraq will go together and with similar rates.
3. We have been status quo from Mon. Oct. 17 2016. I am hearing to look forward to Sat. Oct. 22 2016.
F. Secrets behind the global Cabal monetary system of the Rothschild Family: Documentary: The Secrets of the Rothschild Family Fo...
1. By 1798 Rothchilds were dominating the European Banking system by establishing Central Banks that loaned money to nations (backed by their citizen's taxes).
2. Under what was known as Fractional Banking where the Cabal's Central Banks could loan ten times the amount of gold assets deposited in the bank.
3. Rather than raise taxes countries would sell their bonds to the Central Banks, then be obligated to pay both the principle and interest back to the banks.
4. The Rothchilds used their financial gain from this and financing both sides of different wars around the globe to take control of the stock and bond markets.
5. They created the Bank of the United States that was owned not by US citizens, but by a very few private families, plus foreign interests including the Vatican and British Crown.
6. By 1816 the Rothchilds were in full control of banking in Europe and the US.
7. In Europe the banking system was owned by the Rothchilds, Warburgs and Shipps.
8. In the US the banking system was owned by private European families, Vatican, British Crown, plus the Morgans, Rockeflellers and Aldrichs.
9. By end of 19th Century and until now the Rothchilds owned over half of the world's wealth.
10. Presently the Rothchilds own and dictate the content of all of the major media outlets; own the world's largest oil company, (Shell); fix the price of gold on a daily basis to profit from its ups and downs; have cornered the world's gold supply; hide the Black Nobility wealth in secret accounts including at the Vatican; have purposely crashed stock markets; hand picked US Presidents, bankrupted nations and not only sponsored, but actually instigated wars across the globe for their own financial gain.