Friday, October 18, 2019

Daily Market Report 10/18/19 Leading Economic Indicators continue to decline, which it's MoM into September dropped 0.1%.  Stocks are trading in Negative Territory this morning on bad economic news out of China, which shows their Economy slowing more rapidly than anticipated.  Q3 Corporate Earnings continue to report decent reports, which pleases the Investors; and various Fed Members continue with their speeches.  MBS has been trending lower and have been pushing against it's floor of support at the 100 DMA, which has been a strong support.  It's currently Unchanged from yesterday's close, so Mortgage Rates (also) remain Unchanged.  Like it's counter-part, Yields have been pushing up against it's Ceiling of Resistance, which is a Fibonacci level.  This level has been very strong.  It's currently sitting at 2.75%.  I'm watching the stochastic charts, which may indicate a near trend reversal.  It's not clear yet, but it does look like there may be a possibility.

Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt

No comments:

Post a Comment