Stocks Tumble On Fear Of Interest Rate Hike

Hello MarketClub members everywhere. Stocks are trading sharply lower today after comments from a Federal Reserve banker suggests that a September rate hike might not be entirely off the table after all.

MarketClub's Mid-day Market Report

In a speech today Federal Reserve Bank of Boston President Eric Rosengren said that "a reasonable case can be made" for a rate hike, according to The Wall Street Journal.

Those words shook Wall Street, as traders had pretty much written off an interest rate increase at the Fed's Sept. 20-21 meeting. This feeling was based on the weaker-than-expected August jobs report released last week. Although Rosengren did not specifically mention September, his words, to some degree, leaves the door open to a rate hike, which Wall Street is not positioned for according to analysts.

Key levels to watch next week: Continue reading "Stocks Tumble On Fear Of Interest Rate Hike"

Why This September Could Be Unlike Any Other September

Hello MarketClub members everywhere. I think we can all agree that this year's presidential election is something we have never seen before. It doesn't matter if you're a Republican, Democrat or an independent in the days leading up to the final vote, be prepared for the unexpected. That is why I say September is going to be unlike any other September.

MarketClub's Mid-day Market Report

Coming back from Labor Day the index markets bounced back and resumed their upward trend based on the long-term monthly Trade Triangles. Sometimes as traders we get caught up in the minutia of trading and fail to see the bigger picture. I'm waiting for the index markets to accelerate on the upside. This may not happen, as the weekly Trade Triangles are red indicating a sidelines position in all of the indexes. This will likely will change in the very near future. Continue reading "Why This September Could Be Unlike Any Other September"

And The Big Loser Of The Week Is

Hello MarketClub members everywhere. It's Friday; Labor Day weekend is on the horizon, so it is time to look back on the week. The biggest loser for the week is Crude Oil which is down from last Friday's close of $47.63 as of right now as October crude is trading around $44.39 down over $3 for the week.

MarketClub's Mid-day Market Report

Many of the other markets have seen changes in their intermediate weekly Trade Triangles and I will examine the ramifications of those moves in today's video.

Here is a quick look at the major markets and how things stand right now. Continue reading "And The Big Loser Of The Week Is"

This Market Like The Election Is Flawed

Hello MarketClub members everywhere. The back and forth between the two presidential nominees is quite extraordinary, and I believe it is reflecting its uniqueness on the market itself. No one quite knows what to expect or what the outcome is going to be. Some polls show Hillary in the lead and others show Trump leading. Then we have this whole FBI and Homeland Security looking into protecting the integrity of the voting system - I never thought I'd see this in my lifetime, but we are living through an extraordinary time in history.

MarketClub's Mid-day Market Report

Having said all that, let's take a look at the markets and what they are doing.

Today is the last trading day in August. It is also "Hump Day" and the middle of the trading week. I always like to look at the end of the month as a reassessment period as to where the market is closing in reference to last month's close. I will be doing that in today's video. Continue reading "This Market Like The Election Is Flawed"

The Big Party Get Together At Jackson Hole

Hello MarketClub members everywhere. World bankers met at their August retreat this past weekend in Jackson Hole Wyoming and I am convinced that this is just party time for the bankers and a waste of money as nothing was resolved. There is a reason why nothing was resolved at this meeting and that is because the Fed headed by Janet Yellen has no clue about what to do with the U.S. economy. I have been harping on this for the past several years and believe the Fed is up the creek without a paddle and clueless about what to do. All this after printing trillions of dollars. Remember Helicopter Ben throwing money everywhere? That is Ben Bernanke the former head of the FED; his thesis was to do everything the opposite of the great depression when money was tight. Looks like it didn't work out too well for you Ben.

MarketClub's Mid-day Market Report

We live in a capitalistic economy, at least that is what they tell me and a capitalistic economy has boom and bust cycles. It is impossible for a capitalistic economy to stay even and smooth.

The only way I can see the Fed making its way out of this remarkable self-made disaster is by inflating the economy. That would take the onus off them and help stimulate businesses and production.

Is that likely to happen? At this point, your guess is as good as mine. As I stated earlier, the Fed is like a deer in the headlights and their actions are frozen in time. Plus, the FED is all out of options.

Enough said!

Let's begin today by looking at the major indices and where they are currently trading. Continue reading "The Big Party Get Together At Jackson Hole"