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Archives by Year:
USD/CAD: Is A Low In Place? US, Canada GDP On Deck
USD/CAD Daily Chart Technical Outlook: USD/CAD reversed sharply today off confluence support at 1.2415 (low was 1.2413) – this level is defined by a long-term 61.8% ext of the broader decline off the 2016 high and converges on a parallel support extending off the 9/21 swing low (red). Note that daily momentum is also attempting to break […]
There’s A Storm A Comin’
Bloomberg interviewed Alicia Munnell from the Boston College Center for Retirement Research. She of course has come to be a thought leader for what ails the Social Security system. Shockingly it boils down to three things; cutting benefits, raising the cap one way or another or some combo of both. I’ve framed it numerous times by saying […]
Durable Goods New Orders Improves In June 2017
The headlines say the durable goods new orders improved. The unadjusted three month rolling average improved. .Analyst Opinion of the Durable Goods Situation Our analysis is more positive than the headlines as we see improvement this month. Civilian aircraft were the main headwind this month. If one removes aircraft – this is a soft report. […]
Great Graphic: CRB Index Hits 2017 Down Trendline
The CRB Index gapped higher today and it follows a gap higher opening on Tuesday, which has not been filled. Today’s gains lift the commodity index to a trendline drawn off the January and February highs and catches the high from late May. It intersects today near 181.35 and the high has been a little over […]
AstraZeneca Plunges Following Failed Lung Cancer Study
Shares of AstraZeneca (AZN) are dropping sharply after the company said its MYSTIC trial failed to show its two-drug combination extended progression-free survival compared with standard-of-care chemotherapy for lung cancer patients. Leerink analyst Seamus Fernandez downgraded the stock to Market Perform following the news, while noting that this could have a negative read-through for Bristol-Myers […]
Inventories Surge Led By Autos, Trade Deficit Narrows: A Boost To Second-Quarter GDP
In what is likely to provide a big boost to second quarter GDP numbers, wholesale and retail inventories surged in June according to Advance Indicators from the Census Department. The advance numbers also point to a narrowing of the trade deficit which will add a small bit to second quarter GDP. Advance Indicators Advance Trade […]
VIX Spikes To 11 As Equity Market Liquidity Dries Up
The plunge in US equity markets continues – led by big tech names… Sending VIX soaring to 11 for the first time in 3 weeks. As stocks slip, and VIX spikes, liquidity is also disappearing from futures markets, setting ETFs up for a potential flash-crash… Source: Nanex Trannies are down over 3%…
The Safest Banks To Invest In
Photo Source Investing in the safest banks has historically been very lucrative. They have high returns on equity and can dig economic moats around their businesses in the form of high switching costs. Changing banks is a hassle, and most consumers don’t bother to take out assets even if they find a competitor that offers […]
Precious Metals And The Dollar
Rick Ackerman kicks off today with his targets for gold, silver and the US dollar. The burden of proof is still on the bulls to finally push the gold price past the election night highs. As for the dollar, Rick looks at the longer term chart to assess if the dollar is in trouble. He […]
Workday Is On The Move And Is Breaking Out Right Now
Work Day (Ticker: WDAY) is on the move and is breaking out right now. WDAY spent the past month and a half consolidating and the past week really tightening up. When we see patterns tighten up, build support, and get close to a pivot like WDAY did, it gives us a low-risk way to play […]
