Morning Wire TV: Daily Market Snapshot
With such a strong rally this week, and a marked retracement of recent losses, the key near term question is whether this is a ‘dead cat bounce’ – OR – simply a resumption of the medium term uptrend. From a price action perspective, the jury is still out.
[brid video=”713383″ player=”24372″ title=”Uptrend%20Resuming%20Or%20Dead%20Cat%20Bounce%20%20ShortView%20Morning%20Market%20Hit%20(3rd%20Feb%202021)” duration=”156″ description=”Subscribe to the Daily RAG here: https://www.longvieweconomics.com/the-daily-rag-subscription Learn more about the Daily RAG here: https://www.longvieweconom…” uploaddate=”2021-02-03 10:08:43″ thumbnailurl=”https://i.ytimg.com/vi/XJ6jzXF5G38/default.jpg” contentUrl=”http://www.youtube.com/watch?v=XJ6jzXF5G38″]
In particular, despite a strong rally in US equities, other assets have a more troubling message. In this brief clip, we highlight some of that price action and think about ‘what’s next’ for equity markets.
Key data and events today bear watching closely in that respect, and include ADP employment and the ISM Services reading. We’re also watching earnings reports and speeches on the US economy and monetary policy from various Fed members, including Mester, Bullard, and Evans.