Tuesday, March 12, 2019

Daily Update

Early in the day, S&P went to 2803 from yesterday's close of 2791. Then declined to 2792 and finally closed at 2799. While the weekly cycles are up trending, short term cycles are expecting weakness/consolidation tomorrow.

US Dollar index couldn't push past 97.25 today and closed lower at 96.97. Daily cycles are expected to reverse tomorrow.

For the month of Feb' 19, CPI came soft at 0.2% m/m. Core CPI (less food and energy) came at 0.1% m/m. Tomorrow, we get durable goods order and PPI at 8:30 am, construction spending at 10:00 am.