Thursday December 13th, 2018 Newsletter - free

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Table of Contents:

1. General Market Analysis: SPX and Other Major Indices 

2. Review of Select Sectors

3. Glance at Currencies and Commodities

4. Precious Metals and GDX

5. Trade Ideas

The market continues it's frustrating grind and chop. The Russell 2000 small caps remains very weak, in fact 1 out of 4 of the stocks in that index were down over 3% today! Otherwise in the very short term the market has done pretty much what we pointed out - it went up in a small abc pattern and then after completing that c wave high yesterday has been selling off again.  See the 15 min SPX chart (Chart #10 below). Also news related items can quickly move the market up and down in fast violent ways as we've seen.

Anyway nothing changes today technically:  It's still possible that Monday's low put in an Int Wave a low and the market is simply grinding it's way higher, albeit in a very choppy manner, in that Int wave B.  If Int wave B is in, then the market should form a higher low sometime on this pullback, moving in complex abc type patterns. Or it's possible that the wave A wasn't put in at Monday's low!  Again tough market, my suggestion if you are trying to trade all these 'wiggles' then day trade.  If you are long from Monday, stay long with a stop you are comfortable with. Let's not over complicate it!

Again guys like I stated last night, it's times like this when you should be focusing on capital preservation and keeping what you have, and if you do trade, focus on 1 or 2 items at most! And if you can day trade, there's plenty of opportunity for that, you can simply choose to focus on a 5 min chart of a volatile ETF with standard indicators. Or if you work a busy day job, stay on the sidelines, cash is a position!  Below is a chart I've been trading, it's a specialized Renko chart on ES.  Again in this volatility find something and laser focus on that or sit on sidelines. 

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Major Indexes Index Symbol ETF Symbol % G / L Day % G / L Week Close
Dow JonesINDU - WDIA - W 0.29% 0.85% 24,597.38
S&P 500SPX - WSPY - W -0.02% 0.66% 2,650.54
Wilshire 5000WLSH - W -0.23% 0.35% 27,240.02
NasdaqCOMPQ - W -0.39% 1.45% 7,070.33
NDX 100NDX - WQQQ - W 0.06% 2.34% 6,767.97
Russel 2000 (Small Caps)RUT - WIWM - W -1.55% -1.06% 1,432.70
Market Sectors Index Symbol ETF Symbol % G / L Day % G / L Week Close
TransportsTRAN - WIYT - W -1.64% -2.80% 9,672.74
BanksBKX - W -1.64% -4.55% 89.02
FinancialsXLF - W -0.73% -2.51% 24.48
BrokersXBD - W -1.40% -1.26% 243.76
XLE (Energy Select)XLE - W 0.32% -0.83% 63.54
Oil Service HoldersOIH - W -1.45% -3.32% 16.33
TechnologyXLK - W 0.17% 2.46% 66.19
SemiconductorSOX - WSMH - W -0.36% 3.17% 1,194.59
Communication Services XLC - W -0.45% 1.47% 44.04
RetailXRT - W -2.68% -1.82% 42.52
Consumer StaplesXLP - W 0.62% 1.32% 55.44
Consumer DiscretionaryXLY - W -0.50% 0.67% 104.06
IndustrialsXLI - W -0.28% -0.06% 67.99
Real EstateIYR - W 0.60% -1.54% 80.49
HomebuildersHGX - WXHB - W -0.91% -2.30% 250.42
MaterialsXLB - W -1.17% -0.37% 51.72
Metals And MiningXME - W -0.57% -1.07% 27.76
GDX Gold Miners ETFGDX - W 0.20% 1.39% 20.48
BiotechnologyBTK - WXBI - W -1.90% 0.66% 4,497.42
HealthcareXLV - W 0.10% 1.66% 92.06
DrugsDRG - W 0.41% 1.78% 593.99
UtilitiesUTIL - WXLU - W 0.80% 0.80% 759.55
Currencies Index Symbol ETF Symbol % G / L Day % G / L Week Close
US DollarUUP - W 0.00% 0.54% 25.94
EuroXEU - WFXE - W -0.09% -0.23% 113.58
YenXJY - WFXY - W -0.30% -0.77% 88.01
AustralianXAD - WFXA - W 0.12% 0.30% 72.26
British PoundXBP - WFXB - W 0.23% -0.59% 126.56
Chinese YuanCYB - W -0.21% 0.29% 25.55
Canadian DollarCDW - WFXC - W 0.03% -0.20% 74.90
Swiss FrancXSF - WFXF - W -0.07% -0.33% 100.61
Commodities Index Symbol ETF Symbol % G / L Day % G / L Week Close
CommoditiesDBC - W 1.29% -0.06% 15.69
Crude OilWTIC - WUSO - W 2.80% -0.06% 52.58
GasolineGASO - W 4.07% -0.51% 1.48
Natural GasNATGAS - WUNG - W -0.29% -8.11% 4.12
CopperCOPPER - WJJCB - W -0.11% 0.27% 2.77
AgricultureDBA - W 0.46% 0.00% 17.41
CornCORN - WCORN - W -0.26% -0.32% 384.25
WheatWHEAT - WWEAT - W 1.80% 0.89% 536.00
CoffeeBJO - W -2.04% -3.06% 41.78
SugarCANE - W -0.27% -1.20% 7.43
Precious Metals Index Symbol ETF Symbol % G / L Day % G / L Week Close
Gold MetalGLD - W -0.22% -0.47% 117.53
SilverSLV - W 0.29% 0.95% 13.86
PlatinumPPLT - W -0.68% 0.51% 75.54
PalladiumPALL - W 1.52% 5.55% 123.65
GDX Gold Miners ETFGDX - W 0.20% 1.39% 20.48
Bonds Index Symbol ETF Symbol % G / L Day % G / L Week Close
High Yield Corporate BondHYG - W 0.24% 0.82% 83.51
TLT 20 Year Bond ETFTLT - W -0.24% -0.29% 118.07
10 Year Treasury YieldTNX - W 0.17% 2.14% 29.11
30 Year Treasury YieldTYX - W 0.48% 0.64% 31.63

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Week of December 10 - December 14
Date ET Release For Actual Briefing.com Forecast Briefing.com Consensus Prior Revised From
Dec 10 10:00 JOLTS - Job Openings Oct 7.079M NA NA 6.960M 7.009M
Dec 11 06:00 NFIB Small Business Optimism Index Nov 104.8 NA NA 107.4
Dec 11 08:30 PPI Nov 0.1% -0.2% 0.0% 0.6%
Dec 11 08:30 Core PPI Nov 0.3% 0.1% 0.1% 0.5%
Dec 12 07:00 MBA Mortgage Applications Index 12/08 1.6% NA NA 2.0%
Dec 12 08:30 CPI Nov 0.0% 0.0% 0.0% 0.3%
Dec 12 08:30 Core CPI Nov 0.2% 0.2% 0.2% 0.2%
Dec 12 10:30 EIA Crude Inventories 12/08 -1.2M NA NA -7.3M
Dec 13 08:30 Export Prices Nov -0.9% NA NA 0.5% 0.4%
Dec 13 08:30 Export Prices ex-ag. Nov -1.0% NA NA 0.5%
Dec 13 08:30 Import Prices Nov -1.6% NA NA 0.5%
Dec 13 08:30 Import Prices ex-oil Nov -0.3% NA NA 0.1% 0.2%
Dec 13 08:30 Initial Claims 12/08 206K 225K 228K 233K 231K
Dec 13 08:30 Continuing Claims 12/01 1661K NA NA 1636K 1631K
Dec 13 10:30 Natural Gas Inventories 12/08 -77 bcf NA NA -63 bcf
Dec 13 14:00 Treasury Budget Nov -$204.9B NA NA -$138.5B
Dec 14 08:30 Retail Sales Nov 0.3% 0.2% 0.8%
Dec 14 08:30 Retail Sales ex-auto Nov 0.4% 0.3% 0.7%
Dec 14 09:15 Industrial Production Nov 0.3% 0.3% 0.1%
Dec 14 09:15 Capacity Utilization Nov 78.5% 78.6% 78.4%
Dec 14 10:00 Business Inventories Oct 0.6% 0.5% 0.3%

Economic Calendar

Stock Earnings Calender:

Click here for a list of Stocks that are reporting Earnings

**Generally we never hold a position into earnings since the risk/reward is too great

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