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Dashboard – October 3 – 7, 2016

 

 

 

 

 

SELECTIONS

MONDAY:   The Employment Situation Report will loom large this week after 6 consecutive days of triple digit moves. Appropriately, markets are flat this morning as we await the start of trading

TUESDAY:   Yesterday’s mid-day recovery put an end to the streak of 6 consecutive triple digit moves. Today looks as if it may be getting off to a flat start in follow-up to yesterday’s small decline, as we await Friday’s Employment Situation Report

WEDNESDAY: The countdown is on and markets are again getting ready to start the day off quietly, as it has to begin the week.

THURSDAY:  Yesterday’s decent, but unwarranted rally, followed oil again. Things may return to interest rates tomorrow, but there’s no reason for markets to do anything but stay as flat as the futures were trading early this morning

FRIDAY:. Potentially big market mover this morning, as futures are just mildly cautious ahead of the news and after an overnight currency meltdown of the British Pound


 

 



 

                                                                                                                                           

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Weekly Summary

  

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Weekend Update – October 2, 2016

Jim Carrey made, what was by most accounts, a truly putrid move entitled “The Number 23.”

At its heart was the “23 enigma,” which is the belief that most of life’s events and incidents are somehow related to the number 23.

For example, you liked how that new sweater fit on you? The number 23.

Need more proof? The burning of Joan of Arc? The number 23.

While those may be disputable to non-believers, this was certainly the week validating the 17 enigma.

Interestingly, the great director Alfred Hitchcock made a movie entitled “The Number 17,” which is regarded among his worst and is rarely ever screened.

This past week, however, the number 17 may have been the key to five days of indecisive trading that saw triple digit moves each day, only to see the S&P 500 end the week with a 0.2% movement.

What the past week gave us were 17 separate occasions during the week when members of the Federal Reserve gave scheduled presentations.

17 is a prime number.

The prime rate is based on the federal funds rate, which is set by the FOMC and their actions or inactions have been ruling markets for months.

Do you really need any more proof than that?

If you do not, that turns out to be very fortunate, but there’s not too much doubt that it has become a free for all in terms of getting one’s interest rate opinion out in front of as many people as possible.  

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