5 Jul 2013 AMC

5 Jul 2013 AMC

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Week 38



Technical Updates





 Briefing's Commentaries



Next Week In View


Jason's Commentaries

Now my portfolio is telling me that I might be wrong soon. Jobs report were terrific. But the unemployment rate has gone up. Many people were asking why and the main reason is because there was more people removed from work force compared to the jobs added. Don't forget there are many people in the market that are on contract jobs as companies are reluctant to pay for their health care in US. Now the market is mainly focused on the QE and the main focus will be switched to the coming Wednesday's Fed's minute. As the Fed focus on the growth in the economy as a benchmark to alter monetary policy, perhaps the increase in unemployment was a good sign that the Fed won't be tapering QE that quickly. 

Friday's volume were pathetic, moving 625m shares in the NYSE. In such thin market, the market makers can do whatever they want. It wasn't a very bullish day despite the market moving near 1% gain across the board. However, right now the technicals are showing me that the market is moving away from the short bearish trend into perhaps a volatile and flat period. I reckon we might be turning bullish due to short covering and bottom buying to push the market up. However, I doubt very much we're going much higher after this period. 

Treasuries made another major down day and commodities had a rough ride as well. Crude oil spiked to $104.12 on Monday morning due to Egypt's political issues. With all these distractions, I believe the volatility could increase even further. To make things worse. It's going to be the start of earnings season once again with Alcoa announcing its earnings today.

Tighten up your seat belt and prepare for the volatility ahead =D

Market Call: Flat to downside

Date: 8 Jul 2013