Morning Minutes 09/12/2018

Morning Minutes

Apple’s Big Day, HBC Earnings and Oil Rally

September 12, 2018
10:15 am EDT

At SIA Wealth Management everything we do is based on Relative Strength Analysis. We evaluate the Relative Strength between asset classes giving us insight into money flows on a large scale, and from this select top ranked investments.

Market Commentary By:
Colin Cieszynski, CFA, CMT
Chief Market Strategist
ccieszynski@siawm.com
+1 (647) 282-4428

It’s a big day for Apple with the company’s spat with US President Trump over trade and the company’s contribution to the US economy taking a back seat to its annual iPhone launch event which starts at 1:00 pm EDT. Last year Apple introduced two new iPhones, so this year we’re more likely to see incremental improvements and expansion of new features into more products. An iWatch announcement is also expected and you never know what small goodies the company may also have. Shares could be active on the news and again later in the month as pre-order and launch sales reports start to roll in.

Hudson’s Bay Company shares are up 4.3% in early trading, which suggests that investors are looking past the distorted earnings numbers in its latest quarterly report and focusing on sales. Same store sales at Saks Fifth Avenue soared 6.7% while sales declined 7.6% at Saks Off Fifth, a sign of a strong economy in that consumers appear to be moving their spending up market.

WTI Oil is up again this morning and trading back above the $70.00/bbl level, building on yesterday’s breakout. Last night’s large API oil inventory drawdown of 8.6 mmbbls confirmed signs of a tightening US market amid reports that US production growth may be slowing at a time of strong demand. Oil could be active through the day with the DOE energy inventory report due mid-morning.

Thursday Webinar Announcement:
SIA Charts will be hosting its monthly webinar on Thursday September 13th at 1:00 pm EDT which will include comments on the market from Chief Market Strategist Colin Cieszynski and information on our latest Relative Strength Spotlight.

On this call we will also hear from Ted Bader, President of SIA Wealth about the 2 Funds SIA Wealth runs, specifically focusing on the strong performance of the US tactical pool as well as an update on the Tactical Market Neutral Pool.

Click on the link below to register for the event and receive the call-in details.
https://register.gotowebinar.com/rt/290617808385466115

SIA Wealth in the Media:
Colin Cieszynski was quoted on oil, gold and stocks by Marketwatch.com

https://www.marketwatch.com/story/gold-churns-below-1200-as-dollar-strengthens-2018-09-11

https://www.marketwatch.com/story/oil-buoyed-by-iran-sanctions-signs-of-demand-2018-09-11

https://www.marketwatch.com/story/us-stock-futures-stumble-as-investors-turn-cautious-amid-september-blues-2018-09-11

Colin Cieszynski was quoted on gold by Kitco News

https://www.kitco.com/commentaries/2018-09-11/Gold-Futures-Come-Back-From-Lows-To-Close-Over-1-200.html

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