Raymond Merriman's Weekly Preview

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Posted by in Raymond Merriman's Weekly Preview on July 07, 2017 .

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The U.S. economy added a better-than-expected 222,000 new jobs in June and the unemployment rate held at 4.4 percent, according to a government report Friday. Economists surveyed by Reuters had been expecting nonfarm payrolls growth of 179,000 and the unemployment rate to be 4.3 percent. Wage growth, however, remained muted, with average hourly earnings rising 2.5 percent on an annualized basis,...

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Markets will be closed in the USA on Tuesday, July 4, in observance of the Independence Day Holiday.

 

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To succeed as president, Mr. Trump has to show he can govern, and it looks like that may require separating himself from a Republican Party disabled by a permanent blocking minority with no interest in governing. – Daniel Henninger, “Should Trump Abandon the GOP?” Wall Street Journal,...

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The Citi Economic Surprise Index hit a multiyear low Thursday…. The index is a widely followed indicator of how economic data are matching up to expectations, and the fact that it hit its lowest level since August 2011 has Chad Morganlander of Washington Crossing Advisors urging investors to start protecting their portfolios in light of a "deceleration of growth." "What we believe will be...

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“The periods of decline from the crest of the 18-year cycle to its trough at the end, has ranged from 2 months (the 1987 case) to 8 years. Since the Great Depression of 1932, there have been no declines from crest to trough that have lasted more than two years. Even the 90% decline into the Great Depression low of 1932 lasted less than 3 years (two years, 8 months). Prior to that – prior to the...

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Stocks hit record intraday highs earlier in the (Friday) session, as investors shook off a widely unexpected result to the general election in the United Kingdom. Prime Minster Theresa May's Conservative party lost its parliamentary majority in the process, coming up with 318 of 650 seats. Conservatives held a 17-seat majority before the contest. Some pollsters expected May's party to retain the...

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NOTE: There is no regular column this week, as we prepare for Saturday’s Mid-Year Webinar on “The Great Reset” and Financial Markets update. The focus will be a review of the next three years, and then specifically the next 4 months, with emphasis upon the U.S. stock market, as well as Gold, Silver, the U.S. Dollar, Euro currency, Soybeans, and Crude Oil. The live webinar on Saturday is sold out (again),...

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NOTE: Markets in the USA will be closed on Monday, May 29, it observance of the Memorial Day holiday. Also, there will be no column next week as I will be preparing for the Saturday, June 3, mid-year webinar on financial markets. There are still openings left, but we expect them to sell out – as they always do – by the middle of next week. Go to our website at www.mmacycles.com, and click on the banner at the...

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“The bottom line is that the greatest risk to the US stock market (and hence all world equity markets) right now is the political risk. I think we will know if that risk is real or not in the next 100 days, based on the transit of Mars to President Trump’s natal chart this month, and the Solar Eclipse conjunct Mars of August 21 +/- one month.” Last week’s MMA Weekly Column for the Week...