S&P
Look ahead: Economic Calendar – for Thu Jul 16 2015
A midday look ahead in preparation for economic reports and events scheduled for the next trading day.
Highlights:
Thursday is day-two of Fed Chair Yellen”s semi-annual two-day Humphrey-Hawkins testimony, the Senate portion. A similar reaction to Wednedsay”s House testimony would be unusual. More often, the market has discounted her comments, and her comments are unlikely to change. So, look for reversals if markets were to extend any further on her repeating those comments — after an initial knee-jerk reaction.
John Williams Speaks — dove
Wed 6:00 PM ET
**ECB Policy Statement / press conference
7:30 AM ET
Jobless Claims
8:30 AM ET
Bloomberg Consumer Comfort Index
9:45 AM ET
*Philadelphia Fed Business Outlook Survey
10:00 AM ET
Housing Market Index
10:00 AM ET
**Janet Yellen Speaks — dove
10:00 AM ET
EIA Natural Gas Report
10:30 AM ET
Treasury International Capital
4:00 PM ET
Fed Balance Sheet
4:30 PM ET
Money Supply
4:30 PM ET
Afternoon bias
| WED afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 2112.50 | 2105.50 |
| …would target | 2116.25 | 2109.50 |
| Bias-down: under | 2106.00 | 2099.25 |
| …would target | 2102.00 | 2095.00 |
| Signal status: NO-BIAS | FAQ | |
| INTRO VIDEOS #1 and #2 | ||
1. At 1:20, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target.
2. Not triggering either bias signal at 1:20 would be “no-bias,” and the bias signals should define the bias environment”s range.
— A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias.
3. Touching the bias signal within 3 minutes either way of 1:20 would invoke a grace period through 1:30 to trigger a late signal.
— “Late” signals don”t require testing the opposite bias signal, but it”s still likely.
4. Still testing the bias signal at 1:30 after invoking the grace period would trigger “noN-bias,” with no bias influence.
It’ll have to be worth a thousand words…
Huge power outage in our
Huge power outage in our area due to a storm which apparently has also knocked out both of my internet connections. Currently making arrangements to broadcast again. Thanks for your patience!
The 3-point 2102-2105 range is
The 3-point 2102-2105 range is persisting into the open. It”s difficult to determine the breakout”s direction from so narrow of a range. Meanwhile, probing fresh highs quickly won”t be reliable for extending higher, let alone protected from reversing back down — especially ahead of Yellen”s testimony. We discussed levels and their challenges, along with other markets coverage, during the pre-market Tour:
https://roddavid10.mitel-nhwc.com/join/rkbvksk