stevo’s market update 7-30-2010

8/9/2019 Stevos market update 7-30-2010

1/10

Stevos market wrap 7/30/2010


2/10

/ES daily with Fibs


3/10

Throw on some simple moving averages and, as predicted, 200 Day

and 50% retrenchment proved to be the smack down.


4/10

/ES Hourly, with same Fibs. Seems those

little lines work trading as points.


5/10

7/30/2010 ES Action 5min


6/10

US Dollar looks primed for the bounce as the 50%

retrenchment and 200day SMA draw near.


7/10

And Mr. Kass with an interesting point.

Stock Buoyed by Month-End Markups7/30/2010 4:02 PM EDT

Bullish TBTUpdate TLT

The most disturbing feature of today's late-market equity ramp is the strength in bonds(and the lower bond yields).

"One last thing."-- Lt. ColumboThe most disturbing feature of today's late-market equity ramp is the strength in bonds (and

the lower bond yields).The UltraShort 20+ Year Treasury ProShares (TBT) is down big, and the iShares

Barclays 20+ Year Treasury Bond (TLT) is up big.For months, bonds have benefited from:

1. a flight to quality as investors are fearful of equities and sovereign debt issues; and2. the growing evidence of a moderating expansion.

Since the flight-to-quality trade seems to have abated with the stability of Europe and itsfinancial institutions, this leaves economic concerns. Those concerns seem justifiedbased on all the recent data, so I would conclude that, with the strength in stocks today,not accompanied by a drop in bond prices, stocks have likely been simply buoyedtoday by month-end markups and the last algorithm standing!

Caveat emptor.Enjoy your weekend.


8/10


9/10

The ever popular

Hawaiian Man.

No comment is

necessary


10/10

Economic Releases and Other Events

Time Estimate

Date (EST) Indicator GS Consensus Last Report

Mon Aug 2 10:00 ISM Manufacturing Index (Jul) 54.5 54.0 56.2

10:00 Construction Spending (Jun) Flat -0.5% -0.2%

10:15 Bernanke spks at Southern Legislative Conf; Charleston

16:00 Treas Secy Geithner spks on financial reform at NYU

Tue Aug 3 8:30 Personal Income (Jun) +0.2% +0.2% +0.4%

8:30 Personal Spending (Jun) +0.1% +0.1% +0.2%t

8:30 Core PCE Price Index (Jun) +0.14% +0.2% +0.2%

10:00 Factory Orders (Jun) -0.5% Flat -1.4%

10:00 Pending Home Sales (Jun) n.a. -1.5% -30.0%Lightweight Motor Vehicles (Jul) 12.0M 11.6M 11.1M

Domestic Motor Vehicles (Jul) 9.1M 8.9M 8.6M

Wed Aug 4 8:15 ADP Employment Change (Jul) n.a. +35,000 +13,000

10:00 ISM Nonmanufacturing Index (Jul) 53.0 53.0 53.8

Thu Aug 5 8:30 Initial Jobless Claims n.a. 455,000 457,000

8:30 Continuing Claims n.a. 4,536,000 4,565,000SF Fed hosts hearing on Home Mortgage Disclosure Act

Fri Aug 6 8:30 Unemployment Rate (Jul) 9.6% 9.6% 9.5%

8:30 Nonfarm Payrolls (Jul) -75,000 -60,000 -125,000

8:30 Private Payrolls (Jul) +75,000 +100,000 +83,000

8:30 Average Hourly Earnings (Jul) +0.1% +0.1% -0.1%

15:00 Consumer Credit (Jun) n.a. -$6.0bn -$9.1bn

stevo’s market update 7-30-2010

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