"Yes they can control the weather. It’s ridiculous
for anyone to lie and say it can’t be done." – Marjorie Taylor Greene,
Congresswoman, Georgia (R).
Michael Ramirez. Political commentary at...
https://michaelpramirez.com/index.html
“These billion-dollar disasters used to happen once every
three months back in the 1980s. Over the last decade they’ve happened closer to
every three weeks,” says Adam Smith, an applied climatologist at NOAA. “Climate
change is certainly supercharging many of these trends.” Story at...
Hurricane Milton: How climate change is ‘supercharging’ extreme weather trends | Watch (msn.com)
My cmt: 80’s? That was 40-years ago. Maybe it has something to do with more people living in the danger zone and the increased value of real estate. The following story is closer to the truth.
CLIMATE CHANGE: THE SCIENCE DOESN’T SUPPORT THE HEATED
RHETORIC (Tribune News Service)
“We are constantly reminded that we are experiencing a climate crisis, but as a climate scientist, I can tell you that’s not what the science has shown us so far. Other than modest warming, there has been little change in any kind of severe weather that can be attributed to global greenhouse gas emissions. You don’t have to take my word for it, despite my credentials. It’s the conclusion of the U.N. Intergovernmental Panel on Climate Change (IPCC). Its most recent report concludes that, other than direct temperature-related effects, there have been virtually no changes in severe weather that we can confidently attribute to greenhouse gas emissions from the burning of fossil fuels.” - Roy W. Spencer, PhD, a visiting fellow at The Heritage Foundation, Principal Research Scientist at the University of Alabama in Huntsville (UAH). He is the author of “Global Warming: Observations vs. Climate Models.” Story at...
Commentary: Climate change: The science doesn’t support the heated rhetoric (msn.com)
“The stock market indices look like they all want to move
higher into year-end, regardless of what happens this month. Since September
2022 my strategy has been to buy weakness. That remains in place today. I
sometimes try to be too cute. Don’t miss out on what could be another solid
quarter.” -Paul Schatz, President, Heritage Capital. Blog at...
https://investfortomorrow.com/blog/does-the-government-manipulate-economic-data/
CPI & JOBLESS CLAIMS (Bloomberg)
“Both the headline and the core CPI, which excludes food and energy, came in 0.1 percentage point higher than forecast for the month, with a 0.2% increase in the headline index and a 0.3% rise for the core... On an annual basis, the headline index rose 2.4% in September, slightly less than 2.5% the month before, while the core figure accelerated for the first time in one and a half years, to 3.3% from 3.2%....
...Weekly jobless claims also came out Thursday, and showed a much-bigger-than-expected increase of 258,000, against the median forecast for 230,000. While this was likely affected by the impact of hurricanes, one market participant said the jump – to the highest level in more than a year – was hard to ignore.” Story at...
https://www.bloomberg.com/news/live-blog/2024-10-10/us-cpi-report-for-september
MARKET REPORT / ANALYSIS
-Thursday the S&P 500 declined about 0.2% to 5780.
-VIX rose about 0.3% to 20.93.
-The yield on the 10-year Treasury declined (compared to about this time, prior trading day) to 4.067%.
MY TRADING POSITIONS:
XLK – Holding since the October 2022 lows. Added more 9/20.
UWM – added 7/15 & more 9/20.
QLD – added 7/24.
SSO – added 9/16.
SPY – added 9/19 & more 9/20
CURRENT SUMMARY OF APPROXIMATELY 50 INDICATORS:
Today, of the 50-Indicators I track, 10 gave Bear-signs and 12 were Bullish. The rest are neutral. (It is normal to have a lot of neutral indicators since many of the indicators are top or bottom indicators that will signal only at extremes.)
The daily Bull/Bear, 50-Indicator spread (Bull Indicators minus Bear Indicators, red curve in the chart above) declined to +2 (6 more Bull indicators than Bear indicators).
TODAY’S COMMENT:
Overall, a Bull-Bear spread of +2 is Neutral so the markets remain unsettled. The 10-dMA of the 50-Indicator Spread (purple line in the chart above) is still sloping down so we can’t feel too confident about markets. It’s not that I expect a big downturn, but the indicators are suggesting that the directionless trend may continue.
The bearish, rising-wedge pattern, shown by the red,
dashed-lines on the above chart, remains in play.
BOTTOM LINE
I’m neutral at this point, but leaning bullish, still waiting to see what the indicators tell us.
ETF - MOMENTUM ANALYSIS:
TODAY’S RANKING OF 15 ETFs (Ranked Daily) ETF ranking follows:
The top ranked ETF receives
100%. The rest are then ranked based on their momentum relative to the leading
ETF.
*For additional background on the ETF ranking system see NTSM Page at…
http://navigatethestockmarket.blogspot.com/p/exchange-traded-funds-etf-ranking.html
DOW STOCKS - TODAY’S MOMENTUM RANKING
OF THE DOW 30 STOCKS (Ranked Daily)
For more details, see NTSM Page at…
https://navigatethestockmarket.blogspot.com/p/a-system-for-trading-dow-30-stocks-my_8.html
THURSDAY MARKET INTERNALS (NYSE
DATA)
My basket of Market Internals declined to SELL. (My basket of Market
Internals is a decent trend-following analysis that is most useful when it
diverges from the Index.)
...My current invested
position is about 65% stocks, including stock mutual funds and ETFs. I’m
usually about 50% invested in stocks when markets are stretched. (75% is my max
stock allocation when I am strongly bullish.)
I trade about 15-20% of the total portfolio using the
momentum-based analysis I provide here. When I see bullish signs, I add a lot more
stocks to the portfolio, usually by using an S&P 500 ETF as I did back in
October 2022 and 2023.
Michael Ramirez. Political commentary at...
https://michaelpramirez.com/index.html
Hurricane Milton: How climate change is ‘supercharging’ extreme weather trends | Watch (msn.com)
My cmt: 80’s? That was 40-years ago. Maybe it has something to do with more people living in the danger zone and the increased value of real estate. The following story is closer to the truth.
“We are constantly reminded that we are experiencing a climate crisis, but as a climate scientist, I can tell you that’s not what the science has shown us so far. Other than modest warming, there has been little change in any kind of severe weather that can be attributed to global greenhouse gas emissions. You don’t have to take my word for it, despite my credentials. It’s the conclusion of the U.N. Intergovernmental Panel on Climate Change (IPCC). Its most recent report concludes that, other than direct temperature-related effects, there have been virtually no changes in severe weather that we can confidently attribute to greenhouse gas emissions from the burning of fossil fuels.” - Roy W. Spencer, PhD, a visiting fellow at The Heritage Foundation, Principal Research Scientist at the University of Alabama in Huntsville (UAH). He is the author of “Global Warming: Observations vs. Climate Models.” Story at...
Commentary: Climate change: The science doesn’t support the heated rhetoric (msn.com)
https://investfortomorrow.com/blog/does-the-government-manipulate-economic-data/
“Both the headline and the core CPI, which excludes food and energy, came in 0.1 percentage point higher than forecast for the month, with a 0.2% increase in the headline index and a 0.3% rise for the core... On an annual basis, the headline index rose 2.4% in September, slightly less than 2.5% the month before, while the core figure accelerated for the first time in one and a half years, to 3.3% from 3.2%....
...Weekly jobless claims also came out Thursday, and showed a much-bigger-than-expected increase of 258,000, against the median forecast for 230,000. While this was likely affected by the impact of hurricanes, one market participant said the jump – to the highest level in more than a year – was hard to ignore.” Story at...
https://www.bloomberg.com/news/live-blog/2024-10-10/us-cpi-report-for-september
-Thursday the S&P 500 declined about 0.2% to 5780.
-VIX rose about 0.3% to 20.93.
-The yield on the 10-year Treasury declined (compared to about this time, prior trading day) to 4.067%.
XLK – Holding since the October 2022 lows. Added more 9/20.
UWM – added 7/15 & more 9/20.
QLD – added 7/24.
SSO – added 9/16.
SPY – added 9/19 & more 9/20
Today, of the 50-Indicators I track, 10 gave Bear-signs and 12 were Bullish. The rest are neutral. (It is normal to have a lot of neutral indicators since many of the indicators are top or bottom indicators that will signal only at extremes.)
The daily Bull/Bear, 50-Indicator spread (Bull Indicators minus Bear Indicators, red curve in the chart above) declined to +2 (6 more Bull indicators than Bear indicators).
Overall, a Bull-Bear spread of +2 is Neutral so the markets remain unsettled. The 10-dMA of the 50-Indicator Spread (purple line in the chart above) is still sloping down so we can’t feel too confident about markets. It’s not that I expect a big downturn, but the indicators are suggesting that the directionless trend may continue.
I’m neutral at this point, but leaning bullish, still waiting to see what the indicators tell us.
TODAY’S RANKING OF 15 ETFs (Ranked Daily) ETF ranking follows:
*For additional background on the ETF ranking system see NTSM Page at…
http://navigatethestockmarket.blogspot.com/p/exchange-traded-funds-etf-ranking.html
For more details, see NTSM Page at…
https://navigatethestockmarket.blogspot.com/p/a-system-for-trading-dow-30-stocks-my_8.html
