The main event this week is the start of the US Q2 Results Calendar. Chinese GDP numbers on Monday are a focus – this will kick off a Chinese economic trajectory debate and provoke stimulus chatter. RBA Meeting Minutes Tuesday. Michele Bullock takes over in September – there are two more RBA Meetings before that. The appointment is seen as Dovish (less likely to raise rates). Australia also has jobs numbers on Wednesday.
BULLETS The Economic Clock is turning. About 6:30? Ignore the Clock Hand in the graphic.…
SUMMARY If they were overbought before they’ll be overbought now – the NASDAQ and S&P…
SUMMARY This CPI number had better be good – the market is betting on it.…
SUMMARY A few strategists fussing about bond yields and mentioning 1987. Early signs of Big…
MAIN EVENTS This week's key highlight is the release of the US Consumer Price Index…
SUMMARY Not as many sell signals as expected this morning – maybe on Monday. Big…
SUMMARY Overbought – A lot of Tech ETFS plus the NASDAQ and NASDAQ ETFs –…
SUMMARY With Wall Street closed many of the signals are unchanged. NASDAQ and S&P 500…
The lower-than-expected CPI number last week suggests a good chance that the RBA will pause rates, but almost all the strategists are saying the same thing, inflation is too high, and even if they do pause now, they will have to raise rates twice if not three times more. If they do pause, I think it’ll be good for the market, whatever the strategists are saying. And hopefully, it will extend this consumer discretionary rally for us. We have three retailers in our IDEAS PORTFOLIO.
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