Durable Goods Orders March 2013 Fall 5.7%, FOMC May Hold QE Signals

Durable-Goods-john deer tractor

No need to worry about the Fed ending QE with mixed economic data:

Durable goods orders fell in March as businesses cut back on investment in capital equipment. The Commerce Department said durable-goods orders for long lasting manufactured goods fell by 5.7 percent from the prior month.  Some of the decrease in durable goods orders can be attributed to the sequestration and uncertainty that permeates businesses strategy these days.  The market took the news in stride today although the Dow Jones fell 43 points.  If the economic data remains mixed, we don’t see the Fed signaling the end of easing for the foreseeable future.

Apple hasn’t helped guide market technicians and fundamentalists and the stock has completely decoupled from the overall stock market.  A six month chart shows Apple falling rapidly as the market rallies.  Our technical analysis levels are holding with the S&P 500 comfortably above the band of support we’ve been watching.  We were bullish until today due to the lack of follow through from gains at the end of the day.  We told our readers to buy on dips and remain short term bullish which paid off in the short-run (3-5 days). We are less bullish and are leaning neutral now but intermediate term we are constructive due to the rebound after yesterday’s Associated Press Twitter flash crash.

U.S. Stock Market Major Index Statistics for April 24, 2013:

DJIA 14,676.30 -43.16 -0.29%
NASDAQ 3,269.65 0.32 0.01%
S&P 500 1,578.79 0.01 0%

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