by Don Vialoux, Timingthemarket.ca
WALL STREET RAW RADIO – SATURDAY- JUNE 17, 2017 WITH HOST, MARK LEIBOVIT AND GUESTS DON VIALOUX,
HENRY WEINGARTEN, JEFF HIRSCH, SINCLAIR HOE, DAVID HOROWITZ AND CRAIG SMITH:
The Bottom Line
Equity markets around the world remain intermediate overbought and vulnerable to a correction. Cracks appeared in several places last week including the Technology sector early last week, European equity market in mid-week and the retail sector at the end of the week. The usual period of summer weakness from Mid-June to Mid-October has arrived. However, volatility measured by the VIX Index remains relatively muted. Political events in a wide variety of countries (most notably in the U.S.) could change that quickly. Be careful out there! A spike in volatility will be the most likely sign that the summer correction has started. Meanwhile, holding a robust position in cash in your investment portfolio makes sense.
Economic News This Week
May Existing Homes Sales to be released at 10:00 AM EDT on Wednesday are expected to dip to 5.51 million units from 5.57 million units in April.
Weekly Jobless Claims are to be released at 8:30 AM EDT on Thursday.
April Cdn. Retail Sales to be released at 8:30 AM EDT on Thursday are expected to increase 0.3% versus a gain of 0.7% in May.
May Leading Economic Indicators are to be released at 10:00 AM EDT on Thursday.
May Cdn. Consumer Prices to be released at 8:30 AM EDT on Friday are expected to increase 0.2% versus a gain of 0.4% in April
May New Home Sales to be released at10:00 AM EDT on Friday are expected to increase to 599,000 from 569,000 in April