*
U.S. equity index futures ~flat to down; Dow off ~0.3%
*
Fed Chair Powell Economics Club Washington discussion 1240
EST
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U.S. Dec international trade balance -$67.4B vs -$68.5B
estimate
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Euro STOXX 600 index ~flat
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Dollar, gold, bitcoin rise slightly; crude up ~2%
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U.S. 10-Year Treasury yield rises to ~3.66%
Welcome to the home for real-time coverage of markets brought to
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NASDAQ COMPOSITE: BULLISH MOMENTUM BUILDS (0900 EST/1400
GMT)
One measure of the Nasdaq's internal strength, the
Nasdaq New High/New Low (NH/NL) index , on a monthly
basis, continues to improve. This can suggest that the
Composite's recent strength may have more legs:
The NH/NL index, on a monthly basis, plunged to 14.5% in
October, which was its weakest reading since 10.3% in March
2009.
The measure ticked up in November, and has now advanced to
29.9%, putting it on track to rise for a fourth-straight month.
Looking back to the late 1990s, this measure has tended to
form V-bottoms around the time of some of the Nasdaq's most
significant lows. For example, its March 2009 trough coincided
with the end of a Nasdaq collapse of as much as 56%.
Bulls will want to see this internal measure continue to
rise. Its 10-month moving average (MMA), now 20.7%, can act as
support on weakness.
A break below the 10-MMA may see the measure once again
threaten the 14.5%-10.3% zone, putting the Nasdaq at risk for a
much deeper decline.
(Terence Gabriel)
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(Terence Gabriel is a Reuters market analyst. The views
expressed are his own)
