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The Kingdom of TSP
Sunday-Weekly
Early Edition
Market News, Doodles, Tea Leaves, & Yak Date: August 7, 2005
Market News.
Kingdom Talk: Market bucket dropped! When vestor dropped the bucket it landed on a oil spike; putting a hole in the bucket. Some vestors were using duct tape to repair the hole. Will the duct tape work or will the leak continue?
Elsewhere: Bits and pieces from briefing.com: The strength for July was consistent with strength seen across other economic data. Retail sales, business orders, and industrial production have been very strong in recent months. The data should be taken at face value as another indicator that economic trends are picking up.
Average hourly earnings were up 0.4% in July after a gains of 0.2% in each of May and June. This trend reflects a modest pickup in wage growth but nothing that reflects significant inflationary pressures. The economic numbers are strong across the board. Real GDP trends remain above long-term growth.
The Fed policy makers (FOMC) meet Tuesday amid expectation for a 25 bp hike in overnight policy rates.
August is always a tough month for the market. However, the economic and earnings trends remain extremely favorable.
Other News: -> http://www.briefing.com/SilverIndex.htm
-> http://www.bullandbearwise.com/
Doodles, and Tea Leaves - Weekly.
Doodles:
S&P 500 (Index)
Closed at 1226.42, dn -7.76 for the week.
CMF (money flow) at 0.095, dn -0.093
RSI (strength) at 50.6, dn -8.4
MACD (trend) changed bearish
Slow STO (signal) changed bearish
ROC (change) fell to minus area
Light Crude (NYM)
Closed at 62.31
Attachment: S&P (3mo) chart ending 08-05. Added: 20dMA.PSAR, Slow STO , and ROC.
Tea leaves: Yellow - Red: Fed rate meeting near. Oil in critical range. Market swimming in worries.
Yak.
Remarks: Holding 74/26
My sentiment: Neutral
S&P Stops: Alert: 1233 *broken*, Trailing: 1221
Oil Markers: <57= ok, 57-62=worry, >62=critical
Weekly TSP Returns: LI=-.02, G=+.01, F=-.05, C=-.08, S=-.25, I=+.11
The Kingdom of TSP
Sunday-Weekly
Early Edition
Market News, Doodles, Tea Leaves, & Yak Date: August 7, 2005
Market News.
Kingdom Talk: Market bucket dropped! When vestor dropped the bucket it landed on a oil spike; putting a hole in the bucket. Some vestors were using duct tape to repair the hole. Will the duct tape work or will the leak continue?
Elsewhere: Bits and pieces from briefing.com: The strength for July was consistent with strength seen across other economic data. Retail sales, business orders, and industrial production have been very strong in recent months. The data should be taken at face value as another indicator that economic trends are picking up.
Average hourly earnings were up 0.4% in July after a gains of 0.2% in each of May and June. This trend reflects a modest pickup in wage growth but nothing that reflects significant inflationary pressures. The economic numbers are strong across the board. Real GDP trends remain above long-term growth.
The Fed policy makers (FOMC) meet Tuesday amid expectation for a 25 bp hike in overnight policy rates.
August is always a tough month for the market. However, the economic and earnings trends remain extremely favorable.
Other News: -> http://www.briefing.com/SilverIndex.htm
-> http://www.bullandbearwise.com/
Doodles, and Tea Leaves - Weekly.
Doodles:
S&P 500 (Index)
Closed at 1226.42, dn -7.76 for the week.
CMF (money flow) at 0.095, dn -0.093
RSI (strength) at 50.6, dn -8.4
MACD (trend) changed bearish
Slow STO (signal) changed bearish
ROC (change) fell to minus area
Light Crude (NYM)
Closed at 62.31
Attachment: S&P (3mo) chart ending 08-05. Added: 20dMA.PSAR, Slow STO , and ROC.
Tea leaves: Yellow - Red: Fed rate meeting near. Oil in critical range. Market swimming in worries.
Yak.
Remarks: Holding 74/26
My sentiment: Neutral
S&P Stops: Alert: 1233 *broken*, Trailing: 1221
Oil Markers: <57= ok, 57-62=worry, >62=critical
Weekly TSP Returns: LI=-.02, G=+.01, F=-.05, C=-.08, S=-.25, I=+.11