Bigger Picture
Look ahead: Economic Calendar – for Tue Nov 17, 2015
A midday look ahead in preparation for economic reports and events scheduled for the next trading day.
Highlights: Tuesday’s CPI is high-profile and has a track record of influencing price action. The noon hour’s Fed speaker probably has the best chance to trigger volatility.
*Consumer Price Index
8:30 AM ET
Redbook
8:55 AM ET
Industrial Production
9:15 AM ET
Housing Market Index
10:00 AM ET
E-Commerce Retail Sales
10:00 AM ET
4-Week Bill Auction
11:30 AM ET
*Jerome Powell Speaks
12:35 PM ET
Daniel Tarullo Speaks
3:30 PM ET
Treasury International Capital
4:00 PM ET
The market weighs in.
The horrible events in Paris happened after markets had closed. An impression is sure to be made, but it should be limited and temporary. Unless liquidity or earnings are threatened, markets tend not to be steered off-course by terror.
Those are very real possibilities, but they’re not currently relevant. The 2012.00 target of Friday’s decline was only attacked intraday to within 5 points, but it was met after the close as reports arrived. I’ll be comparing the effects to that level.
Wishing all the best to Paris and to Europe…
Monitor overnight Globex action at this link.
The Universe, week of Nov 14, 2015… Meh.
[Note: I publish “The Universe” every weekend, updating my support and resistance calculations for Marijuana sector stocks. It is not a projection, but a handy reference… Non-Marijuana stocks are covered elsewhere during the week.]
With one exception, no new components of the sector triggered a signal or did anything newly remarkable. The exception was CARA, which decided suddenly to stop basing for several minutes, rallied to its 17.75 target, and then fell right back down into the base. The actual move was a little more involved, but not much more so.
| Marijuana Stock Universe for November 16, 2015 | |||
| Reference this table during stock reactions | |||
| 4-week | # up: | 12 | 12.00% |
| trends* | # flat: | 20 | 20.00% |
| # down: | 68 | 68.00% | |
| *The percentages of stocks rising or falling over 4 weeks. | |||
| symbol | support | resistance | 4-week trend |
| ACGX | 0.000 | 0.003 | down |
| AERO | 1.000 | 1.950 | down |
| AGTK | 0.000 | 0.004 | down |
| AMMJ | 0.070 | 0.150 | down |
| ARNA | 1.650 | 2.200 | down |
| ATTBF | 0.035 | 0.075 | flat |
| BLOZF | 0.130 | 0.240 | down |
| BLPG | 0.015 | 0.086 | down |
| BRDT | 0.012 | 0.031 | down |
| BTFL | 0.002 | 0.003 | down |
| CAFS | 0.001 | 0.011 | down |
| CANL | 0.250 | 0.500 | down |
| CANN | 0.600 | 1.330 | flat |
| CANV | 0.795 | 1.160 | flat |
| CARA | 14.250 | 18.870 | flat |
| CBDS | 0.510 | 1.850 | down |
| CBGI | 0.000 | 0.005 | down |
| CBIS | 0.020 | 0.041 | flat |
| CGRW | 0.360 | 0.610 | flat |
| CHUM | n/a | n/a | down |
| CNAB | 0.150 | 0.330 | down |
| DEWM | 0.002 | 0.004 | up |
| DIGP | 0.170 | 0.400 | down |
| DSCR | 0.000 | 0.025 | down |
| EAPH | 0.005 | 0.013 | down |
| EDXC | 0.007 | 0.019 | down |
| ENCC | n/a | n/a | down |
| ENDO | 0.006 | 0.018 | down |
| ENRT | 0.012 | 0.026 | down |
| ERBB | 0.002 | 0.004 | flat |
| ETST | n/a | n/a | flat |
| EXMT | 0.000 | 0.004 | up |
| FITX | 0.004 | 0.078 | up |
| FSPM | 0.000 | 0.250 | down |
| FULL | 2.940 | 3.140 | up |
| FWDG | 0.000 | 0.002 | down |
| GBLX | 0.210 | 0.320 | down |
| GRCU | 0.000 | 0.004 | flat |
| GRNH | 0.023 | 0.067 | flat |
| GWPH | 71.600 | 86.400 | down |
| HEMP | 0.050 | 0.107 | down |
| ICBU | 0.000 | 0.003 | down |
| IGRW | 0.000 | 0.002 | down |
| IMLFF | 0.100 | 0.180 | down |
| INCC | 0.000 | 0.002 | down |
| INSY | 26.000 | 36.000 | flat |
| ITNS | 0.001 | 0.005 | down |
| KAYS | 0.067 | 0.187 | flat |
| LATF | 0.000 | 0.001 | down |
| LXRP | 0.180 | 0.280 | up |
| MCIG | 0.017 | 0.030 | down |
| MDBX | 0.040 | 0.070 | down |
| MDCN | 0.000 | 0.001 | down |
| MDRM | 0.008 | 0.025 | down |
| MINE | 0.000 | 0.002 | down |
| MJMD | 0.000 | 0.015 | down |
| MJMJ | 0.000 | 0.001 | down |
| MJNA | 0.036 | 0.048 | up |
| MNTR | 0.310 | 0.620 | down |
| MSRT | 1.410 | 1.880 | flat |
| MYEC | 0.014 | 0.021 | up |
| MYHI | 0.013 | 0.100 | down |
| NDEV | 0.016 | 0.053 | down |
| NMUS | 0.218 | 1.215 | down |
| NRTI | 0.000 | 0.002 | down |
| NTRR | 1.200 | 2.100 | flat |
| OGRMF | 0.510 | 0.920 | up |
| OSLH | 0.000 | 0.001 | down |
| OXIS | 0.009 | 0.019 | down |
| PHOT | 0.010 | 0.030 | down |
| PLPL | 0.053 | 0.121 | down |
| PMCB | 0.095 | 0.115 | flat |
| PNTV | 0.001 | 0.007 | down |
| PZOO | 0.001 | 0.005 | down |
| QEDN | 0.000 | 0.003 | down |
| REDG | 0.000 | 0.003 | down |
| RFMK | 0.000 | 0.002 | down |
| RMHB (thcz) | 0.075 | 0.013 | flat |
| RSSFF | 0.030 | 0.100 | down |
| SING | 0.005 | 0.012 | down |
| SKTO | 0.000 | 0.004 | down |
| SPRWF | 0.180 | 0.230 | up |
| SRNA | 0.100 | 0.185 | flat |
| STEV | 0.038 | 0.055 | down |
| TAUG | 0.003 | 0.005 | down |
| TRTC | 0.082 | 0.118 | down |
| TURV | 0.463 | 0.770 | down |
| TWMJF | 1.370 | 1.980 | up |
| UPOT | 0.040 | 0.125 | flat |
| USEI | 0.000 | 0.003 | down |
| VAPE | 0.001 | 0.038 | down |
| VAPR | 0.000 | 0.050 | down |
| VGPR | 0.000 | 0.002 | down |
| VHUB | 0.025 | 0.048 | up |
| VPCO | 0.170 | 0.550 | down |
| VPOR | 0.000 | 0.001 | down |
| WDHR | 0.000 | 0.002 | down |
| WOGI | 0.005 | 0.013 | flat |
| XTRM | 0.001 | 0.004 | flat |
| XXII | 1.300 | 1.850 | up |
Daily Spot… Crude Oil coming in.
A daily summary of high-profile members of several complexes… View a more detailed discussion of each chart at the end of today’s Market Wrap.
Eurodollar Sep Contract (EC, ETF: (FXE, UUP))
Thursday’s test of 1.0785 resistance didn’t extend higher Friday, and instead dipped back down to test Thursday’s 1.0725 low as support.
Gold Dec Contract (GC, ETF: (GLD))
Narrow ranging at or under 1082.00 didn’t suggest the decline was extending, but still doesn’t signal momentum reversing up.
Silver Dec Contract (SI, ETF: (SLV))
Friday’s narrow ranging entered the weekend still hovering at its recent trend lows instead of rejecting the trend, suggesting at least a fresh low intraday remains likely.
30-year Treasury Dec Contract (US, ETF: (TLT))
The bounce extended to 153-21 resistance Friday where reversing back under 152-15 would now resume the decline, but recovering 154-10 would still signal a much bigger recovery underway.
Crude Oil Dec Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Fresh lows testing 40.35 can extend to its 39.95 target so long as 41.00 now holds as resistance.
Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Gapping up into the EIA report extended up through 2.31, but closing also above 2.37 is needed to launch a new rally leg.
Look ahead: Economic Calendar – for Mon Nov 16, 2015
A midday look ahead in preparation for economic reports and events scheduled for the next trading day.
Highlights: Monday’s only econ report is a Fed survey that is high-profile, but with no track record of influencing price action.
Empire State Mfg Survey
8:30 AM ET
3-Month Bill Auction
11:30 AM ET
6-Month Bill Auction
11:30 AM ET