Phil's Newsletter

Mandarin Monday – China’s Economy Slows Considerably

China's growth slowdown suggests recovery is losing steam - BBC News4.9% for Q3 in China.

That's down from 7.9% in Q2 as China struggled with power shortages (which the US did not have) and supply chain issues (which the US does have) as well as Beijing's efforts to reign in the madness in the Real Estate and Technology Sectors before they form a bubble that wipes out everything else (the US just lets it happen).  Delta Covid and the semiconductor shortage were also to blame and will also be factors in our own GDP.  Get ready to be disappointed.

Compared to Q2, China's Q3 GDP was up just 0.2%, which was up just 1.3% from Q1 – not a great year at all.  In an acknowledgment of the mounting risks to the economy, China's Statistics Bureau said that “There are increasing uncertainties in the external environment, while the domestic economic recovery is unstable and unbalanced.”  

On Friday, China Central Bank officials suggested it wouldn’t resort to a relatively large stimulus to drive up the growth rate in the final quarter of the year, for example by flooding the financial system with liquidity or slashing benchmark interest rates.  Officials also played down risks from the debt crisis at China Evergrande Group, the country’s most indebted property concern, whose troubles have rattled markets and raised questions about China’s overall economic and financial health.

We get our own GDP Report next week but, for now, we'll have to content ourselves with the Beige Book, which is like old Uncle Remus stories (now redacted by Disney) about the economy and has nothing to do with data.  This morning we'll get the Industrial Production Report along with the Housing Index, more Housing stuff tomorrow, Wednesday is Beige Book day and Thursday is the Philly Fed along with Leading Economic Indicators and we wrpa it up Friday with PMI.

Earnings, of course, are coming in hot an heavy but it's only the warm-up for Big Tech next week.  

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Remember, we are mainly concerned about how companies are dealing with inflation but it also looks like supply and labor shortages are going to…
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PhilStockWorld October Portfolio Review – Part 2

Image result for one million dollars animated gifImage result for one million dollars animated gif$2,234,532!  

That is up a whopping $66,833 in our paired portfolios, thanks to yesterday's market surge and that's even including this week's STP losses, since we did that review on Tuesday, and have dropped about $25,000 since.  That means the gains in the LTP were stunning – and we only made 2 adjustments last month!  Best of all, we are swimming in CASH!!!  We have $1,778,583 (83.5%) of it - up thanks to a lot of new puts that were sold in the past month, while the market was lower.

And that's our cycle – we buy low and then we sell high and we sold back in August – cutting about half of our positions and leaving us with cash to go shopping with and, what is the first thing we do when we add new positions?  We sell puts.  That puts even more cash into our portfolio and THEN, if we like the test drive, we establish an initial position by scaling in with a long spread (hedged, of course). 

I know it seems like a slow, tedious process but it protects our positions so we can ride out the dips and you can see the results as we started with a combined $600,000 in the LTP/STP back on October 1st of 2019 (arguably a bad time to start – just ahead of an epic crash) and now we're up $1,634,532 (272%).    

Since mid August, we added short puts on AAPL, AAWW, COIN, FDX, LEVI, MRNA, MT, VALE and XRX, putting an additional $86,600 into the portfolio in exchange for simply promising to buy those value stocks if they get significantly cheaper (net $98 for AAPL, net $175 for MRNA)  – those would become our base entry if we do get an entry and THEN we lower the basis further by selling more puts and calls (assuming we still like the stock).  

This is a simple strategy to follow but it requires PATIENCE for the long-term investor as it takes several quarters just to establish a position – BUT IT'S WORTH IT!!!

  • Short Puts – As noted above, we get paid to make a


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4,400 Thursday – Banks and Inflation Boost Markets Again

Earnings are going well so far but it's the half-point drop in the Dollar that's boosting the market.  

Investors are, so far, pleased about the way companies seem to be handingling inflation, pushing prices along to the consumer and that leads to more profits – even if they only reflect the inflation.  PPI came in this morning showing a 0.5% increase in September, giving us an 8.6% rise for the year so far, accelerating from last month's 8.3% pace.  The good news is, Fuel is up 11.6% and, to the extent that's not a long-lasting problem, prices should calm down a bit going forward – so the markets are happy today.  

We may have reached Peak Pizza as Domino's (DPZ) dropped 3.5% this morning on a revenue miss but United Health (UNH) is up 3% and Walgreens (WBA) is up 2% – that's one we were betting on, of course.  Bank of America is up a full 2.5% on a 58% improvement in profits over last year and Morgan Stanley is heading on the same path with a 36% increase in profits.  

We will see how the Nasdaq handles the critical 15,000 line this week, the last two attempts were firmly rejected.  The fall from 15,600 to 14,600 gave us 200-point bounce lines at 14,800 (weak) and 15,000 (strong) and 14,400 was an overshoot to the downside (same 200 point-zone below 14,600) so what remains to be seen is – are we consolidating for a move back up or back down?

Tech earnings come next week, so these moves are just noise while we wait for them.  The S&P 500 is doing a similar bounce, having fallen from 4,550 to 4,300 which makes for 50-point bounces to 5,350 (weak) and 5,400 (strong) – so that's another line in the sand to watch this morning.   Unfortunately, on the Retail front, 85% of those surveyed expect supply-chain distruptions to hurt holiday sales.  That's going to affect on-line sellers as well.

Based on the Fed Minutes yesterday, the taper is definitely coming but it's certainly not dissuading traders this morning.  “Participants generally assessed that, provided that the economic recovery remained broadly on track, a gradual tapering process that concluded around
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Which Way Wednesday – CPI, Inflation, 30-Year Auctions and Fed Minutes

Lots of interesting things today.  

BlackRock (BLK), Delta (DAL), First Republic (FRC), JP Morgan (JPM) and SAP (SAP) all bet their earnings expectations this morning and tomorrow we'll hear from AA, BAC, C, CMC, DPZ, MS, PGR, TSM, USB, UNH, WAFD, WBA and WFC, so a good start to earnings but we'll pay particular attention to guidance that is given.  CPI is expected to be at 0.3% this morning pub probably higher and then we have a 30-year note auction at 1pm and that will only matter if it goes poorly – indicating investors are not willing to lend us money below 3% against what is likely 6% inflation.  

Fortunately the biggest buyer of notes is the Fed and the Fed will publish the minutes of their last meeting at 2pm and traders will anxiously read the tea leaves to see how long this taper/QE program will continue.  It's been a whole lot of nothing since we first tested 4,350 on the S&P 500 in September and we're still there this morning.  Congress finally approved lifting the debt cieling but that's hardly news and it's only good for two months – not a lot of impact there.  

Looking closely at earnings, Delta is facing fuel inflation pressures and JPM made all their income gains by adjusting their loan loss reserves down by $2.1Bn – overall revenues were flat and income would have been as well, otherwise.  

8:30 Update:  CPI came in hotter than expected (of course) at 0.4% for the month, running at a 5.4% annualized pace but it's likely to pick up even more into the holidays.  

Other than that, there's not much else going on so let's get back to our Portfolio Reviews:

Money Talk Portfolio Review:  This one is easy as we can't touch it between shows and I was last on TV on September 1st, when we added BYD and HPQ while cashing out of IBM.  At the time, the porfolio was up 95.9% at $195,906 and, at last month's review, we had made no progress at $194,944 but this month we're up 100.5% at $200,491 so congratulations to all who played along at home.

We have $167,589 (83.5%) in CASH!!!, so we're not too worried about the market dropping.  I should be on…
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PhilStockWorld October Portfolio Review – Part 1

We are in month 2 of our cash out.

Our last Portfolio Reviews were back on September 16th and we had already lightened up back on August 17th ("Top of the Market Tuesday – Cashing Out While We Can") with the S&P 500 at 4,472.   On September 16th, we were at 4,495 but that just meant we had a whole month to wriggle out of our positions without any panic.  Now it's October 12th and the S&P finished the day yesterday at 4,361 – so down a bit, but not much overall.

Still, it's been a great month for our Short-Term Portfolio (STP), which is where we keep our hedges to protect our long-term positions as it's gone from $94,705 to $128,727 as of yesterday's close, a gain of $34,022 (35.9%) on just a 2.9% dip in the S&P 500.  Needless to say we are highly leveraged to the downside but we still need to be certain we are adequately covering our long positions (more on those later) for what could be a 20% correction in the indexes that is unlikely to spare any position.  

  • SKF – An ultra-short on the Financials we added since our last reveiw.  Between inflation, rate changes, lack of stimulus and China's property melt-down – I figured it was good to hedge in that sector (not that we're very invested in Financials).  These are just straight- up long calls looking for a quick gain – none so far.  If they pop to $10 the Delta is 0.75 so we should make 50% – that's our goal (+$1,500).

  • SQQQ – These are leftover short calls that will expire worthless and pay us $1,375 in 50 days.  
  • FXP – We cleverly shorted China back in June and, so far, so good.  We're at target for the full $40,000 and the current net is only $18,800 so $21,200 left to gain if China gets worse, which seems pretty likely.  Good for a new hedge with just 66 days to go and over 100% upside potential.

  • TZA – One of our major hedges.  It's a $400,000 spread that's at the money but we have to invest


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Happy Columbus Day!

In fourteen hundred and ninety two

Columbus sailed the ocean blue – and got totally lost, missed India by 6,000 miles but called the Native American Islanders Indians anyway, slaughtered them and stole their gold and, lacking any real wealth to go back to Spain with, instituted a slave trade that lasted 250 years and ruined the lives of tens millions of people.  Yay!  

That was essentially my daughter's 7th grade (2012) report on Columbus and, though I was called in to the Principal's office at the time for giving my children heretical opinions, it's no longer shocking for people to hear the truth about the colonization of America.  We want Russians to question Marx and Lennin and we want the Chinese to question Mao so why shouldn't our own children question Columbus and Jefferson?  Either you want to raise critical thinkers or you don't, right?

There aren't many critical thinkers playing the markets these days.  On Wednesday we get our second to last FOMC decision for the year but Friday's poor jobs report has given them cover to hold off on raising rates or even tapering yet again.  Oil is back at $81.50 on Goldman Sach's call of a strong rebound in demand but, just this weekend, GS has dropped their Q3 GDP Forecast to 3.25% and Q4 is now down to 4.5% and next year is down around 3% – HALF of what it was! 

The Atlanta Fed agrees with Goldman and their forecast has come all the way down to 1.25% for Q3 – and they are the ones who get the reports while the Leading Economorons they consult for the "consensus" forecast are still raising their expections – now up to 6.5% for Q3.  Q3 ended on September 30th – how can there be this much dispute as to what actually happened?  

Those rising expectations come from the same people you are subscribing to in market newsletters and following in newspapers and magazines and listening to on the radio and on TV so of course you are forgiven for thinking that we are better off economically than we actually are – just as it was excusable when you grew up that you thought Columbus discovered America…
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Fabulous Friday Finish

And the markets are back!

Well, back to where we were in the middle of July but hey, it does feel like we had a rally, doesn't it?  As noted yesterday, 4,400 on the S&P 500 is only the Strong Bounce Line as we have fallen from 4,550 so there's still 150-points to go before we are back to the August highs – so let's not get too excited that we're up for the week.

A strong bounce, however, was the minimum goal for this week to keep the rally alive – so we're forced to remain neutral now and see how next week will play out – but below that line is no longer an option for a "healthy" market.

Our 2-day rally has been on very low volume.  Next week we get CPI, PPI, Retail Sales and Consumer Sentiment reports, and Earnings Season kicks off Wednesday night with reports from BLK, DAL, FRC and JPM with many banks following Thursday and Friday.  Walgreens (WBA) reports on Thursday morning and I think they'll beat the $1.03 that's expected but, even if they don't – those are nice quarterly earnings against $47.85 shares in what is still one of our favorite value stocks:

We cashed in our WBA positions when the stock was $55, which was way over our targets but now I'm worried we won't see below $45 so, in the Long-Term Portfolio, we can sell 10 of the WBA 2024 $45 puts for $8.50 and that will net us in for $36.50, where we'd LOVE to own 1,000 shares of WBA for the long-haul.  If WBA does not go lower, we simply keep the $8,500 for prominsing to buy WBA at $45 over the next two years.  Easy money for any stock you REALLY would like to buy if the price goes lower.  

8:30 Update:  Jobs were a big miss, with only 194,000 being added vs 500,000 expected by leading Economorons and that leaves us still 5M jobs shy of where we were in 2019 but how could that possibly matter, right?  Certainly the market seems happy to ignore it.  There are supposedly 11M jobs available but that would indicate that…
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Thursday Thrust – Limitless Debt Re-Energizes the Market

Message: “Limitless Love” from Joshua Johnson – Emmanuel Baptist ChurchNo more debt (ceiling)!

That's certainly worth celebrating and the indexes are up 1% pre-market and already popped half a point yesterday as word spread that the Republicans offered a short-term debt-limit extension – so the Government won't go Bankrupt until December!  That MUST mean it's party time in October, right?  

We are indeed partying like it's 1999 with the S&P 500 racing back to 4,400 but we'll see if it sticks, as what matters is where we finish the week.  We'll see if the Nasdaq can get back over 15,000 as well but a rally is a rally so we simply have to wait and see if this enthusiasm fades or not.  Keep in mind, the debt ceiling doesn’t authorize new spending, it only allows the Treasury to raise money to pay for expenses the government has previously authorized.  Is that really something to rally about – that we are able to pay our bills for two more months by borrowing more money?

The markets seem to think so:

  • S&P 4,550 to 4,300 was a 250-point drop so 50-point bounce lines are 4,350 (weak) and 4,400 (strong)
  • Dow 35,500 to 33,600 was a 2,000-point drop so the bounce lines are 34,000 (weak) and 34,400 (strong)
  • Nasdaq 15,700 to 14,740 was a 960-point drop so call it 200-point bounces to 14,940 (weak) and 15,140 (strong)
  • Russell 2,580 to 2,150 was a 430-point drop so 90-point bounces to 2,240 (weak) and 2,330 (strong) 

That's a big improvement for the week but still work to be done as we have only hit the strong bounce line on the Dow so far.  We'll see how things go tomorrow but extending the debt ceiling doesn't change anything fundamentally – we knew they'd end up borrowing more money somehow.

Also improving on the virus front is less than 2,000 people per day are dying this week and just over 100,000 people per day are getting infected – only 3M people per month!  While that still makes America about 4x worse than any other country on the planet, it's a lot better than it was last month so breath a sigh of relief (through a mask!).  One out of 4…
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Whipsaw Wednesday – Yesterday’s Gains Reverse Pre-Market

Wheeee, what a ride! 

As we noted in yesterday's Live Member Chat Room, bouncing exactly to our predicted 4,350 line (see yesterday's Morning Report) on very low volume was nothing to get excited about and was actually considered a failure for the day – espeically as all the gains came at the open and we just puttered along from there.  

Things began reversing right at yesterday's close and now we're back to Friday's lows and back to a technically failing market.  Oil (/CL) topped out yesterday at $79.78 and we put our foot down there as well getting into shorts at 12:12 in our Chat Room that averaged out at $79.08 and, already this morning, we're $4,000 and we'll stop 2 out over $78.50 and the other two at $78.75 to lock in gains but, hopefully, today's EIA Inventory Report sends us back below $77.50, for another $4,000 gain before that happens:

Last night's API Report showed a "surprising" (to Economorons) build of 951,000 barrels for Oil, 3.7Mb of Gasoline and 2.5M barrels of Distillates – doesn't really sound like the strong demand picture Goldman Sachs, Barron's and other paid manipulators were trying to paint last week, does it?  For more insights, see the classic: "Goldman’s Global Oil Scam Passes the 50 Madoff Mark!"  See, it doesn't matter if we expose the scam – there's new suckers born every minute…

Commodity prices in general are through the roof and, as you can see from this chart, it's a very strong indicator of a coming recession.  Why?  Because you get less stuff for more money – that's why.  How is productivity going to increase if you are getting less stuff for more money?  How will the economy grow when you are getting less stuff for more money?  

Couple that with an INSANE Fed Policy that pretends there is no inflation during one of the worst recorded rounds of inflation in history – and you have a recipe for disaster which is why, last week, Elizabeth Warren called Fed Chairman Powell "The most dangerous man in America. 

Having 10% inflation and 0% interest means your cash is being devalued at a rate of 10% per
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Technical Tuesday – Looking to Bounce

4,350 or bust! 

That's the game for the S&P 500 this week but we're expecting the bust though raising the debt ceiling may buy us a week and passing the infrastructure bill may buy us a whole quarter before the inevitble correction completes itself.  So far, nothing has stopped us from moving down to our strong retrace line at 4,230, which is our next stop, if there is no intervention but, for the day, we're looking for a bounce back to 4,350, which is the strong bounce line off 4,230 – a fall we haven't even taken yet.

Very simply, per our 5% Rule™, if you fail to bounce over the bounce line for a level you haven't even fallen to yet – then you'll be seeing that level pretty soon!  That's how the failure at 4,440 tipped us off that we were going to make our next leg down last week and now, we're HOPING to bounce to a point almost 100 points below that or 4,230 – here we come!  

We are pre-market bouncy this morning at 4,310 but that's not impressive at all in the low-volume Futures.  Oil (/CL) is at $78.61 and I'm liking them short again below the $78.50 line with tight stops above but I'd rather see us go up to $80 first as that would be a fantastic short, lined up with $85 on Brent (/BZ), which is currently at $82.50 – I just don't think we're going to make it.  

Oil is at a 7-year high as OPEC wrapped up their meeting yesterday sticking with their slow, steady, 400,000 barrels per day increase in production for November, shrugging off pressure to move faster as oil markets around the World tighten up and supplies in Europe run short.  Europe is the wild-card as a natural gas shortage has caused more industrials to switch to oil and that's the only reason demand is up – nothing to do with an overall increase in demand which GS and other Manipulators are claiming is giving us a new paradigm.  

Stock price graphsUS Oil Stocks have bottomed out at 420Mb, at the same time as they bottom out every year and we're…
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Zero Hedge

Powell's Stock Trades Leaked, Show Multi-Million Sale As Market Tanked

Courtesy of ZeroHedge View original post here.

With leaked trades in their personal accounts already costing two Fed presidents their jobs, and a third - vice chair Richard Clarida - currently on the ropes amid speculation he will soon follow, a few weeks ago we joked that if forces within the Fed want to get rid of all the hawks, they should just leak Esther George - the Fed's last remaining uberhawk - trading record.

If the Fed wants to get rid of all the hawks, they just need to leak Esther George's etrade blotter

— zerohedge (@zerohedge) ...

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Phil's Favorites

Another Fed Bank President's Financial Disclosures Fail the Smell Test

Courtesy of Pam Martens

Atlanta Fed President, Raphael Bostic

Private Banks operated by the mega Wall Street banks have an unseemly reputation. So when we opened Atlanta Fed President Raphael Bostic’s financial disclosure forms and saw that he had a financial relationship with Morgan Stanley’s Private Bank, a red flag went up immediately.

Citibank’s Private Bank was previously the subject of an investigation by the U.S. Senate’s Permanent Subcommittee on Investigations. At a h...



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Chart School

Price and Volume Swing Analysis on Bitcoin and Silver

Courtesy of Read the Ticker

Many take guidance from news, pundits or advisors. Well sometimes the swings of price and volume are a better measure of what happens next.

The big boys do not accumulate or distribute in single 1 second trade, they build positions over weeks, months and years. They use price swings in the market to build or reduce positions, and you can see their intent by studying swings of price and volume and applying Tim Ord logic as written in his book called 'The Secret Science of Price and Volume: Techniques for Spotting Market Trends, Hot Sectors, and the Best Stocks'.

Tim Ord is a follower of Richard Wyckoff logic, his book has added to the studies of Richard Wyckoff, Richard Ney and Bob Evans.

Richard Wyckoff after years of...

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Digital Currencies

Ethereum's Turn To Outshine Bitcoin Is Coming, UBS Says

Courtesy of ZeroHedge View original post here.

After a stellar start to the year, which saw its price soar to an all time high above $4,100, trouncing virtually all of its crypto peers, Ethereum has stagnated in recent weeks, with its place in the spotlight taken by bitcoin whose impressive outperformance has been the result of now confirmed speculation that a bitcoin futures ETF is coming. It also meant that what has traditionally been a close correlation between the two largest cryptos has broken in favor of the larger peer; it would also suggest that ethereum is trading about $1000 cheap vs bitcoin.

...



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Politics

Steve Bannon faces criminal charges over Jan. 6 panel snub, setting up a showdown over executive privilege

 

Steve Bannon faces criminal charges over Jan. 6 panel snub, setting up a showdown over executive privilege

Defiant or following Trump’s direction? John Lamparski/NurPhoto via Getty Images

Courtesy of Kirsten Carlson, Wayne State University

The House committee investigating the Jan. 6 attack on the U.S. Capitol is tasked with providing as full an account as possible of the attempted insurrection. But there is a problem: Not everyone is cooperating.

As of Oct. 14, 2021, Steve Bannon, a one-tim...



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Biotech/COVID-19

Ivermectin is a Nobel Prize-winning wonder drug - but not for COVID-19

 

Ivermectin is a Nobel Prize-winning wonder drug – but not for COVID-19

While ivermectin was originally used to treat river blindness, it has also been repurposed to treat other human parasitic infections. ISSOUF SANOGO/AFP via Getty Images

Courtesy of Jeffrey R. Aeschlimann, University of Connecticut

Ivermectin is an over 30-year-old wonder drug that treats life- and sight-threatening parasitic infections. Its lasting influence on global health has been so profound...



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Promotions

Phil's Interview on Options Trading with TD Bank

TD Bank's host Bryan Rogers interviewed Phil on June 10 as part of TD's Options Education Month. If you missed the program, be sure to watch the video below. It should be required viewing for anyone trading or thinking about trading using options. 

Watch here:

TD's webinar with Phil (link) or right here at PSW

Screenshots of TD's slides illustrating Phil's examples:

 

 

&n...



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Kimble Charting Solutions

Crude Oil Cleared For Blast Off On This Dual Breakout?

Courtesy of Chris Kimble

Is Crude Oil about to blast off and hit much higher prices? It might be worth being aware of what could be taking place this month in this important commodity!

Crude Oil has created lower highs over the past 13-years, since peaking back in 2008, along line (1).

It created a “Double Top at (2), then it proceeded to decline more than 60% in four months.

The countertrend rally in Crude Oil has it attempting to break above its 13-year falling resistance as well as its double top at (3).

A successful breakout at (3) would suggest Crude Oil is about to mo...



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ValueWalk

Managing Investments As A Charity Or Nonprofit

By Anna Peel. Originally published at ValueWalk.

Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

Q4 2020 hedge fund letters, conferences and more

The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

Finding ways to generate long-term, sustainable returns for ...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. Contact Ilene to learn about our affiliate and content sharing programs.