Friday charts

market vibes

Friday, November 15… ) 

“I have a democratic heart, but I have a republican brain.” Jamie Dimon

In financial news

A slew of data this morning.

Powell spoke in Dallas yesterday and opined about how “remarkable” the US economy is doing. A cut in December is tbd. Susan Collins told the WSJ a cut is not a “done deal.” We’ve gone from 5 or 6 imminent cuts in late September to a 50% chance for .25 in December.  

The Hang Seng traded back to its May highs. The SHCOMP is turning down and the Topix has been flat since August. Ueda speaks on Monday in Tokyo. Swaps imply a BOJ hike is 50/50.

In India, BBG notes the NSE Nifty Bank 50 index has broken a classic neckline.

Equities

The NDX is doing better than China and India but soft since the 6th of November. Open interest keeps rising as does volume on down days.  A lot of AUm has been promised a sure thing.

In metals

Silver is relatively firm. There is a well-formed isolated low from yesterday and OI is liquidating apace. It is beginning to look like $30/toz is going to be the new floor. I checked the SLV call expiration today and the position has been greatly reduced or moved.

Moving on to gold, FX, the GSR, FX, Bonds and bitcoin its a very mixed bag.