Is The BEA Cooking The Books?
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August 27, 2015

8-27-2015 8-12-03 PM

GDP came in a “revised” 3.7% vs 2.3% but as Consumer Metrics Institute summarizes the data below it may not be as good as you think:

“Once again we wonder how much we should trust numbers that bounce all over the place from revision to revision. One might expect better from a huge (and expensive) bureaucracy operating in the just try! 21st century. Among major economies, only the Chinese numbers are more suspect.”


It’s no surprise the government is messing with important statistical data. They’ve done it before with employment and www.amuamu.eu inflation data.

Jobless Claims and Pending Home Sales flat but Kansas City Fed Mfg Index falls once again four the 8th straight month to -9 vs -4 expected & prior -7.

Markets rallied sharply early following on the outsized oversold gains from Wednesday. At their highs today the 2 day gain for the S&P was 6%. After some afternoon selling ensued but in the closing minutes of trading markets rallied near their highs of the help viagra price in canada day. The bottom line for headline writers is the S&P Index is now green for the week.

Short term trend and volatility have been severe, so severe that holding long or short positions has become an adventure. Notable has been the recovery in commodities and emerging markets.

Friday the Jackson Hole symposium ends and Fed vice-chair Fischer will make some comments. No doubt they’ll be addressed to cheer economic growth as “solid”, employment gains as remarkable and inflation as tame.

Remember there’s just another two days to end the month giving bulls an opportunity to put some joy into markets. There is even a chance that the important 12 period monthly moving average for important indexes like the S&P 500 Index could close the viagra uk chemist non prescription month in a positive condition.

Market sectors moving higher included: Just about everything again.

Market sectors moving lower included: Too few to mention.

The top ETF market movers by percentage change in volume whether rising or falling is available daily.

8-27-2015 8-12-46 PM

Volume was once again heavy and breath per the WSJ was positive and http://www.stel.it/buy-levitra-soft again scoring a 90/10 day. Money Flow was as positive as you’d expect.

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8-27-2015 8-13-08 PM dIARY

Charts of the Day
  • SPY 5 MINUTE

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  • NYMO DAILY

    NYMO  DAILY

    The NYMO is a market breadth indicator that is based on the difference between the number of advancing and declining issues on the NYSE. When readings are +60/-60 markets are extended short-term.


     

  • NYSI DAILY

    NYSI DAILY

    The McClellan Summation Index is a long-term version of the McClellan Oscillator. It is a market breadth indicator, and interpretation is similar to that of the McClellan Oscillator, except that it is more suited to major trends. I believe readings of +1000/-1000 reveal markets as much extended.


     

  • VIX WEEKLY

    VIX WEEKLY

    The VIX is a widely used measure of market risk and is often referred to as the "investor fear gauge". Our own interpretation is highlighted in the chart above. The VIX measures the level of put option activity over a 30-day period. Greater buying of put options (protection) causes the index to rise.


Thursday was a much reduced posting due to outside commitments.

These comeback rallies are impressive and more powerful than I expected. That said, markets are still in some trouble. Individuals and financial advisors have been spoiled over the past 7 years as automatic gains seemed built in. This kind of volatility spooks them leading to another round of distrust for markets.

Manipulating important government economic data has been going on for some time. As long as investors accept this corrupt data, then all will be well once again. But there will come a time when it will all be exposed. The Consumers Metrics Institute is one of those voices giving people and http://www.radiosirokibrijeg.com/overnight-viagra investors the truth.

Let’s see what happens.

 

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Dave Fry is founder and publisher of ETF Digest and has been covering U.S. and global ETFs since 2001. ETF Digest was named one of the most informative ETF websites in the 10th Annual Global ETF Awards.



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Market Summary
NYSE Composite Index S&P 500 Index Nasdaq Composite Index Russell 2000 Small Cap Index NYSE Composite Index S&P 500 Index Nasdaq Composite Index Russell 2000 Small Cap Index 10 Year Treasury Note Yield Gold Bugs Index Morgan Stanley High Tech 35 Index Market Chart
Commodity Quote Change Change % NY
Gold1,126.500.100.01 % 17:15
WTI Crude Futr42.784.1810.83 % 17:14
Index Quotes Change Change % Local
CRB192.637.363.97 % 17:28
US Dollar95.770.020.02 % 17:00
Index Quotes Change Change % Local
VIX26.10-4.22-13.92 %16:14
MSCI Value Daily MTD YTD
Brazil1218.9360.37 %-15.39 %-33.48 %
Russia409.133-0.37 %-13.36 %1.04 %
India451.899-1.52 %-11.07 %-8.96 %
China56.505-0.99 %-14.71 %-14.44 %