Market Recon Tuesday

Good Morning,
                        Global equities are stronger today to varying degrees, but hey…. green is green.  Amazing what traders can do if they can just keep the dollar in place while Crude hides it’s scarred face from that darned ugly stick.  The more dramatic upward price movement this morning has been seen across Europe, which is in my opinion, quite notable after the week/month or so that they have had in that neck of the woods.  Apparently, whether successful or not remains to be seen but, Santa is going to give this thing a go.
                        Time (really past time) to start thinking about your 2016 re-weights.  For my rookies out there, keep in mind that if you are timing your own re-balance… that many funds are doing the same, and you can sometimes save a few bucks by waiting a week or so, while that new money runs through the market like a bull (literally) through a china shop.  Honestly….only you will be super careful with your money.  If I am setting up a long or short bias in a certain stock or certain sector, I want it to be because that’s how I feel (knowing that I did my homework), and not because some 29 year old with two rich grandpas that was handed a job at some fund somewhere “took a shot”.
                        Gang, there sure ain’t a lot to look at this week, but today does stand out among it’s peers this week…as the one day with just a little bit of macro.  So, without further delay., let’s get after it.
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Just a Little Bit of Macro
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08:55 ET
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Redbook (Weekly):  Normally, the Redbook is of interest to those following the retailers, but not headline type material.  This one may be a little more in focus for all traders than usual.  For one, this report is for the week ending on Saturday 26 December, so this will encompass both the last minute Christmas Shoppers, and the all-important day after Christmas.  Secondly, for many Eastern US urban areas, the weather was quite balmy, which you would think somewhat conducive to both shopping &  to selling.  I think we’ve got to look for something with a 3 handle on a year over year basis for this to be considered a bullish print.
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09:00 ET
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Case-Shiller HPI (October):  Home Prices gapped up 5.5% y/y in September on a non-seasonally adjusted (honest) basis, and that same pace of growth is consensus for October.  That last print was the largest percentage gain in that space since July of 2014.  Traders may not follow the FHFA print, but that “lesser” HPI scored a 6.1% y/y gain for October last week.  That FHFA result, and a range for this item that is indeed skewed to the high side lead me to believe that if there is a surprise today, it will be a pleasant one.
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10:00 ET
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Consumer Confidence (December):  The Conference Board’s survey, not to be confused with the University of Michigan’s print, really took it on the chin in November.  Last month this data-point printed at 90.4, which would have been a kick-tail number up until mid-2014, but ended up being the weakest print in this space for all of 2015 (and a dramatic drop from October’s number).  The smart folks in the room are looking for a rebound to something in the 93-94 area.  The low end of the range is 90.7, meaning that nobody, but nobody is looking for a further decline in this space, at this time.
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Not quite sure.  Think the parking lot was even emptier than yesterday.  That said…… Let’s do Tuesday.