Weekly Market Review 201208# Stock
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Commodities were strengthening led by strong performance in crude oil, the
GSCI made its best weekly gain in 2012. Meantime stocks and bonds finished
almost flat for the week; stock traded with extremely low volume since the
rally started in December (excluding the holidays session). Housing data
resulted mixed in January on both existing home sales (4.57m vs. 4.70m est.)
and new home sales (342k vs. 315k est.). University of Michigan consumer
sentiment reached its 52weeks high as employment continued to improve. The
short-term Treasury yields buoyed by optimistic economic data, the 2yrs note
rate traded at its 6months high. Plenty of important economic data are
announcing next week, investors will be focusing on the consumer confidence,
Chicago PMI and the ISM manufacturing index.
Technical Highlights:
• Price of crude oil lifted commodities; Stocks traded at its lowest
weekly volume since the rally started.
• Equity trend unchanged as momentum weakened across major indices.
• Energy stocks benefited from crude oil; the sector outperformed
the market in the second consecutive weeks.
• Historical returns continued to bias toward energy stocks; other
sectors have upside exposure but they should be traded cautiously due to
downside potential.
• The yields curve was trading at its three months high; the 2yr
note rate bounded back at its 200day moving average, which becomes a major
resistance looking forward.
read more at...
http://www.alpbeta.com/p/plus.html
or
http://plus.alpbeta.com/report/201208.pdf
GSCI made its best weekly gain in 2012. Meantime stocks and bonds finished
almost flat for the week; stock traded with extremely low volume since the
rally started in December (excluding the holidays session). Housing data
resulted mixed in January on both existing home sales (4.57m vs. 4.70m est.)
and new home sales (342k vs. 315k est.). University of Michigan consumer
sentiment reached its 52weeks high as employment continued to improve. The
short-term Treasury yields buoyed by optimistic economic data, the 2yrs note
rate traded at its 6months high. Plenty of important economic data are
announcing next week, investors will be focusing on the consumer confidence,
Chicago PMI and the ISM manufacturing index.
Technical Highlights:
• Price of crude oil lifted commodities; Stocks traded at its lowest
weekly volume since the rally started.
• Equity trend unchanged as momentum weakened across major indices.
• Energy stocks benefited from crude oil; the sector outperformed
the market in the second consecutive weeks.
• Historical returns continued to bias toward energy stocks; other
sectors have upside exposure but they should be traded cautiously due to
downside potential.
• The yields curve was trading at its three months high; the 2yr
note rate bounded back at its 200day moving average, which becomes a major
resistance looking forward.
read more at...
http://www.alpbeta.com/p/plus.html
or
http://plus.alpbeta.com/report/201208.pdf
