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Monday, August 22, 2016 - Weekly e-Newsletter - Issue No. 719

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Economic Calendar
Date
ET
Release
For
Consensus
Prior
Aug 23
10:00 AM
New Home Sales
Jul
NA
592K
Aug 24
7:00 AM
MBA Mortgage Index
08/20
NA
-4.0%
Aug 24
9:00 AM
FHFA Housing Price Index
Jun
NA
0.2%
Aug 24
10:00 AM
Existing Home Sales
Jul
NA
5.57M
Aug 24
10:30 AM
Crude Inventories
08/20
NA
-2.51M
Aug 25
8:30 AM
Initial Claims
08/20
NA
262K
Aug 25
8:30 AM
Continuing Claims
08/13
NA
2175K
Aug 25
8:30 AM
Durable Orders
Jul
NA
-4.0%
Aug 25
8:30 AM
Durable Orders, Ex-Transportation
July
NA
-0.5%
Aug 25
10:30 AM
Natural Gas Inventories
08/20
NA
22 bcf
Aug 26
8:30 AM
GDP - Second Estimate
Q2
NA
1.2%
Aug 26
8:30 AM
GDP Deflator - Second Estimate
Q2
NA
2.2%
Aug 26
8:30 AM
International Trade in Goods
July
NA
-$63.3B
Aug 26
10:00 AM
Michigan Sentiment - Final
Aug
NA
90.4
 
This Week in History

8/22/1992 - Presidential candidate Bill Clinton started a series of sharp attacks against President George H.W. Bush economic record

8/23/1989 - Amidst fears of an Iraqi invasion of kuwait, the Dow jones takes a plunge, losing 76.73 points

8/24/1827 - The first issue of "The Mechanics Gazette" is published in Philadephia, the first labor-minded magazine of its time

8/26/1994 - Robert Vesco landed in jail with a 13-year sentence for "economic crimes against the state"

8/27/1894 - Income tax became a legislative issue in the US Congress; the bill was struck down but put the idea on the legislative map

8/28/1941 - the Office of Price Administration--formed to combat higher prices caused by WWII--was formed; it was relieved in 1946

TRADING INSIGHT
Moving Averages

There are traders who use moving average crossovers as a signal for trade entries and exits. Depending on the time-frame, volatility, market conditions, level of a trader’s experience, and risk management parameters, this might or might not work. This method often leads to getting whipsawed. Keep in mind that changing the averages will change the perception of the market movement. What is an up-trend according to a given average can be a down-trend for another. Moving averages were originally intended measure the strength of price movement or momentum from a given average perspective. The key word here is ‘perspective’ (image; impression; etc.) which in this case is only a small snapshot of a much larger picture.

 

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