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发帖数: 299 | 1 Although stocks gave up some of their gains in Friday's session before the
holiday long weekend, the S&P 500 had finally founded a little ground after
three consecutive weekly losses. In the meantime, housing data buoy
investors confidence as both existing home sales (4.62M vs. 4.60M est.) and
new home sales (343K vs. 335K est.) outpaced analysts' forecast. Bond price
volatility stayed quiet and directionless ahead of a busy economic calendar
week, where the Treasury curve finished almost unchanged after reaching its
all time low on the 10yr. Economic fundamentals are on the spotlight looking
forward this week, where the U.S. first quarter GDP, nonfarm payroll, and
various critical economic indicators will be releasing.
Technical Highlights:
• The rally on stocks appeared weakness as momentum decelerated;
1289/1350 continued to be the key support/resistance level for the SPX this
week.
• The NYSE composite is facing heavy resistance from its 200 day
moving average, which is a critical bull/bear technical watch for the blue
chips.
• Offensive stocks outperformed the S&P, the "market top" group (
materials, industrials, and energy) strengthened.
• Treasury showed little activates across the curve this past week;
bonds remain bullish as the "golden cross" on yields fell to reverse the
trend.
read more at...
http://www.alpbeta.com/p/plus.html
or
http://plus.alpbeta.com/report/201221.pdf |
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