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Markets Morning Daily Video November 28 2019

on November 28, 2019

Markets Morning Video

Good Morning folks,

It’s a quiet day with Thanksgiving in the US and while US stocks have broken higherit ranges in manyother markets as therubber band winds tighter. 

Here’s my take – and please note I’ll be back Tuesday as we are moving over the weekend

For discussion:

  • Wrap & Outlook including
  • SPX, DJ30, Nasdaq, SPI200, DAX, China A 50,FTSE, and Nikkei 225
  • DXY, EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, USDNZD, USDCNH, and USDSGD
  • Gold, XAGUSD, Copper, WTI and Brent
  • Bitcoin
  • System signals and positions are discussed as well

Please click on read more to see the video 

And for non-subscribers, If you want to have a trail of the daily subscriber service to get this and the 3000 odd words I write on markets each day you can sign up here for a trial

read more
Greg MckennaMarkets Morning Daily Video November 28 2019

US GDP beats, stocks like, USD too – Macro Markets Morning 28 November 2019

on November 28, 2019

Morning folks – Welcome to McKenna Macro’s Market Mornings.

In a rush? Here’s the key takeaway

  • The US data was NOT terrible on Wednesday which gave the bulls an excuse to have a little pre-Thanksgiving run higher with the S&P, among others making new highs. It closing up around 3153 for a gain of 0.4%. The Russell 200 is back neatly in the black too which is a good sign for further gains – unless you have too much cash like I do :S.
  • Anyway, the 2.1% print for GDP was a little bit better than the 1.9% expected and the durable goods of +0.6% belted it out of the park relative to the expectation of another negative print of 0.8%. Boom!. Okay not boom time USA, but certainly the economy is still doing a lot better than the had wringer have been forecasting – who knew? Oh, you did my dear subscribers 🙂
  • Elsewhere, bonds were up a little in yield with the 10 year Treasury at 1.77%. So gold is down at $1454, silver too at $16.97. Oil is down after a big build in EIA numbers with WTI at $$58.02 while in forex markets the USD is a little better bid with the DXY at 98.38, the Euro at 1.1001, USDJPY at 109.54, and the Aussie dollar at 0.6777. 

Now,  let’s dive into this morning’s newsletter.  

And for non-subscribers, If you want to have a trial of the daily subscriber service to get this and the 3000 odd words I write – and lots and lots of chart – on markets each day you can sign up here for a trial

——————–

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Greg MckennaUS GDP beats, stocks like, USD too – Macro Markets Morning 28 November 2019

Markets Morning Daily Video November 27 2019

on November 27, 2019

Markets Morning Video

Good Morning folks,

President Trump confirmed the US and China are talking on trade and trying to do a deal – that helped US stocks rally but nothig else went along for the ride as ranges in other markets were reinforced.

Here’s my take.

For discussion:

  • Wrap & Outlook including
  • SPX, DJ30, Nasdaq, SPI200, DAX, China A 50,FTSE, and Nikkei 225
  • DXY, EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, USDNZD, USDCNH, and USDSGD
  • Gold, XAGUSD, Copper, WTI and Brent
  • Bitcoin
  • System signals and positions are discussed as well

Please click on read more to see the video 

And for non-subscribers, If you want to have a trail of the daily subscriber service to get this and the 3000 odd words I write on markets each day you can sign up here for a trial

read more
Greg MckennaMarkets Morning Daily Video November 27 2019

US stocks rise again, VIX and Bonds lower…liquidity??? – Macro Markets Morning 27 November 2019

on November 27, 2019

Morning folks – Welcome to McKenna Macro’s Market Mornings.

In a rush? Here’s the key takeaway

  • Stocks in the US are up again and the VIX is lower. But so too are bonds in what might be the clearest sign that this is actually a liquidity induced move in US markets. The S&P 500 is up 7 points or 0.22% to 3140 while the DAX was essentially flat at 13236.
  • It’s got to be liquidity folks rather than hope of an improvement in growth or even the trade deal because other risk assets aren’t really playing their part. Sure the Aussie found support, and the price of copper and oil are higher today. But overall there is no cogent story other than a range trading one…which is kind of exciting because the rubber band looks like its getting tighter. As for the big driver right now, trade, we finally heard from President Trump who gave a guarded but positive comment on trade…we’ll see right :S.

Now,  let’s dive into this morning’s newsletter.  

And for non-subscribers, If you want to have a trial of the daily subscriber service to get this and the 3000 odd words I write – and lots and lots of chart – on markets each day you can sign up here for a trial

——————–

read more
Greg MckennaUS stocks rise again, VIX and Bonds lower…liquidity??? – Macro Markets Morning 27 November 2019

Markets Morning Daily Video November 26 2019

on November 26, 2019

Markets Morning Video

Good Morning folks,

Stocks rallied in the US on what might be a liquidity induced move higher, but other markets haven’t confirmed te move. Thatdoesn’t mean its a false move, becauseclearly tehtradetalk is still a big factor. But it is interesting nonetheless.

Here’s my take.

For discussion:

  • Wrap & Outlook including
  • SPX, DJ30, Nasdaq, SPI200, DAX, China A 50,FTSE, and Nikkei 225
  • DXY, EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, USDNZD, USDCNH, and USDSGD
  • Gold, XAGUSD, Copper, WTI and Brent
  • Bitcoin
  • System signals and positions are discussed as well

Please click on read more to see the video 

And for non-subscribers, If you want to have a trail of the daily subscriber service to get this and the 3000 odd words I write on markets each day you can sign up here for a trial

read more
Greg MckennaMarkets Morning Daily Video November 26 2019

– Macro Markets Morning 26 November 2019

on November 26, 2019

Morning folks – Welcome to McKenna Macro’s Market Mornings.

In a rush? Here’s the key takeaway

  • Stocks were one out running with the bulls as news broke that maybe we are close to a trade deal actually being inked in a Phase 1 sense and as the IP rule change in China over the weekend emboldened folks to get excited about a cooling in tensions.  
  • Now, price is price and the S&P at 3133 was a fresh record high close and with price above the 15 ema we can’t deny the bull bit of bull market. But I want to hear from the US side on this Chinese pushed positivity because we know what happens when a runner gets caught one out in Pamplona.
  • And I say one out because while the Russell 200 busted up and through resistance – SERIOUSLY BULLISH – Copper, bonds, the Aussie dollar, and oil didn’t really join the party. Not even a little bit. So we wait.   

Now,  let’s dive into this morning’s newsletter.  

And for non-subscribers, If you want to have a trial of the daily subscriber service to get this and the 3000 odd words I write – and lots and lots of chart – on markets each day you can sign up here for a trial

——————–

read more
Greg Mckenna– Macro Markets Morning 26 November 2019

1 month till Christmas, less to the next traiff deadline, and we wait – Macro Markets Morning 25 November 2019

on November 25, 2019

Morning folks – Welcome to McKenna Macro’s Market Mornings.

In a rush? Here’s the key takeaway

  • We’ve only got a month till Christmas and 10 days less till the next big round of tariffs come into place. So that’s compressing the time frame for both a deal any kind of big sell off to happen. Maybe that’s why the VIX positions hit another record net short position last week.
  • I’m not sure, but my sense is while Hong Kong is a big issue for the agreement and signing of the trade deal, so too can Mike Bloomberg entering the Presidential race be a game-changer. He can beat the Democrat field and he can probably beat trump too. So with the Electoral College already looking harder than 2016 President Trump may be inclined to shore up his farming belt votes with a deal. We’ll see.
  • Elsewise it’s more of the same with stocks in the US holding up better than those in other jurisdictions, the USD a bit better bid but range-bound, and bonds trying to figure out which way to move. We all, still wait for trade news.     

Now,  let’s dive into this morning’s newsletter.  

And for non-subscribers, If you want to have a trial of the daily subscriber service to get this and the 3000 odd words I write – and lots and lots of chart – on markets each day you can sign up here for a trial

——————–

read more
Greg Mckenna1 month till Christmas, less to the next traiff deadline, and we wait – Macro Markets Morning 25 November 2019

Markets Morning Daily Video November 25 2019

on November 22, 2019

Markets Morning Video

Good Morning folks,

It’s Monday, so we look at and talk about the weekly setups across markets which are still very much waiting on a trade deal to either be inked or abandoned. It’s one of the biggest digital options of all time but we don’t know the expiry date or realistic which way things will go. Though I think Mike Bloomberg entering the presidential race pushes President Trump toward resolution. 

Here’s my take.

For discussion:

  • Wrap & Outlook including
  • SPX, DJ30, Nasdaq, SPI200, DAX, China A 50,FTSE, and Nikkei 225
  • DXY, EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, USDNZD, USDCNH, and USDSGD
  • Gold, XAGUSD, Copper, WTI and Brent
  • Bitcoin
  • System signals and positions are discussed as well

Please click on read more to see the video 

And for non-subscribers, If you want to have a trail of the daily subscriber service to get this and the 3000 odd words I write on markets each day you can sign up here for a trial

read more
Greg MckennaMarkets Morning Daily Video November 25 2019

Still waiting on trade, Ugh… – Macro Markets Morning 22 November 2019

on November 22, 2019

Morning folks – Welcome to McKenna Macro’s Market Mornings.

In a rush? Here’s the key takeaway

  • What would you say if your Panglossian newsletter writer is finally starting to get a little concerned about the outlook for the US economy? I know, know, about time some of you will say. But the reality is that being positive, or at least not over the top negative has been the right play for the past 12 or more months. Just look at the asset returns. 
  • Going forward, however, while I note the Fed still has some decent room on the rate cut front to cut should it need to move my Spidey Sense are heightened at the moment – I’ll discuss below.
  • Thursday though was a weird day’s trade, bonds reacted to the Chinese playing nice with the 10 year Treasury up at 1.77% now but stocks haven’t done much with the S&P 500 down a little to 3103 in what’s been an inside day for it and thus of no real informational content. Europe was all read, copper is down, the Aussie and Euro too, while gold and silver followed their inverted path with bond yields.     

Now,  let’s dive into this morning’s newsletter.  

And for non-subscribers, If you want to have a trial of the daily subscriber service to get this and the 3000 odd words I write – and lots and lots of chart – on markets each day you can sign up here for a trial

——————–

read more
Greg MckennaStill waiting on trade, Ugh… – Macro Markets Morning 22 November 2019