1. Leading economic indicator set weakened slightly more
in Oct., but growth indication still posiitive, albeit
slow.
2. Yr/yr growth of employment through Oct. was a slim 0.5%.
Wage growth was 3.8%. Underlying consumer purchasing power
continues to erode.
3. Heating oil has broken out to the upside and on deck is the
wholesale price of gasoline, set to break out
above the 2.35 - 2.40 per gal. area. Retail gasoline price
continues to inch up, but now has potential to run up to the
$3.25 area again.
4. Support for SP500 has firmed at 1500. Let's see how they take it
out today.
1 comment:
Enjoy reading your work.
Did you see Bill Miller's recent letter to shareholders? Thinks large cap, US-centric financial, health care and consumer stocks are attractive now over next 5-year holding period. Not sure about the consumer or health care but I'm warming to financials in here. Lot of bad news out and the boards finally seem motivated to do something. Plus they have the Fed watching their back. Thoughts?
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