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Macro Markets

Posted by Greg Harmon on September 28th, 2013 A weekly excerpt from the Marco Review analysis sent to subscribers on 10 markets and two timeframes. Last week’s review of the macro market indicators suggested, as we headed into the last full week of the Quarter that the equity markets looked ready to absorb their latest highs. It looked for Gold…

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Posted by Greg Harmon on September 27th, 2013 Japanese stocks have been hot with the birth of Abe-nomics. And in a reinforcing feedback loop they may be ready to make their own Great Leap Forward. The chart for the Japan iShares, $EWJ, has been building a bearish Butterfly Harmonic and just breaking the B level higher. The Potential Reversal Zone …

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Posted by Greg Harmon on September 26th, 2013 A look at the weekly chart for the Emerging Market ETF, $EEM, shows that it has done nothing interesting for nearly 4 years. Bouncing along between 36 and 45.50 with a brief attempt to move higher. So why does this attract the attention of so many strategists? Long consolidation can lead to …

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Posted by Greg Harmon on September 23rd, 2013 There is still a lot of jawboning about the Fed’s ‘decision’ to do nothing at the policy meeting last week. I have read dozens of articles and heard more interviews with analysts as to why this was wrong. Most believe that the communications set the expectation for a taper of stimulus. And …

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Posted by Greg Harmon on September 20th, 2013 High Yield or Junk Bonds are often used as a barometer of risk taking in in the market place. This often becomes a tool for equity traders to measure potential appetite for equities, as a risk asset. So what does the chart of the High Yield Bond ETF, $JNK, say about risk …

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Posted by Greg Harmon on September 19th, 2013 Ben-Bernanke-250x250 It is 10:00am and already I have heard more about how Ben Bernanke confused the market, leading it on as if he would cut off the heroin, only to deliver a new fix, than I care too. But even in this deluge of commentary I have to wonder. What has happened to …

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Posted by Greg Harmon on September 19th, 2013 The Fed did nothing yesterday, like they said they would, and the markets moved higher. Maybe more important the US Dollar Index ($DX_F, $UUP) took a massive dive lower. In fact it made a new 7 month low. Currency Wars in full force. The move now brings the Measured Move lower to …

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Posted by Greg Harmon on September 18th, 2013 I threw out a question to my followers just after the close yesterday: What should I write about in the morning ahead of the fed statement? To their credit, my stream seems to be very steady and calm. I consider myself lucky that this is the case. Some asked me to detail …

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Posted by Greg Harmon on September 17th, 2013 The stories relating Monday’s stock market action will focus on the sell off that happened after an elated rise overnight that coincided with Larry Summers withdrawing his name from consideration as Federal Reserve Chairman. All markets did sell off, but if you look a little closer some were stronger than others. Below …

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Posted by Greg Harmon on September 14th, 2013 A weekly excerpt from the Marco Review analysis sent to subscribers on 10 markets and two timeframes. Last week’s review of the macro market indicators suggested, as we headed back to a full week after the holidays that Gold ($GLD) looked to continue lower in the short term uptrend while Crude Oil…

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Posted by Greg Harmon on September 13th, 2013 The Philadelphia Semiconductor Index, $SOX, is sending off some mixed signals this week. You now that pair of black socks you have that may have gotten bleached a little bit on one sock, so it seems they do not match. The daily and weekly charts look like that. Take a look. The …

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Posted by Greg Harmon on September 12th, 2013 Apologies to any German speakers if I butchered the title. Its the best I can do with Google Translate. But the message is the same. The chart for the German $DAX is looking great and breaking out on the daily timeframe below. The Measured Move higher takes it to 9595 if it …

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