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Archives by Year:
Breadth Indicator Foreshadowed And Confirmed Today’s New High
Posted New High Last Week While the S&P 500 struggled last week, NYSE New Highs – New Lows quietly said “be open to a rally in stocks” by making a new high on Wednesday, September 6 (see chart below). The S&P 500 followed on Monday, September 11, 2017 with a new all-time closing high (bottom […]
Asian Shares And Dollar Head Higher
Asian shares hit 10-year highs on Tuesday and the U.S. dollar headed higher as the damage from Hurricane Irma proved to be far less than expected.The hurricane was downgraded to a tropical storm on Monday and though it knocked out the power for millions of Florida residents, the damage to property and infrastructure was not as devastating […]
Sensex Up Over 170 Points; Realty Stocks Witness Buying
After opening the day firm, stock markets in India maintained their tempo. Sectoral indices are trading on a positive note with stocks in the realty sector and oil & gas sector witnessing maximum buying interest. The BSE Sensex is trading up 175 points (up 0.6%) and the NSE Nifty is trading up 49 points (up 0.5%). The BSE Mid Cap index is trading up by 0.7%, while […]
If Bitcoin Breaks Below Most Recent Low A Deeper Correction Becomes Likely
Summary • Bitcoin forms potential Head and Shoulders Top at resistance of Fibonacci confluence • Breakdown likely leads to a -29% or greater correction Bitcoin (BTC/USD) topped out at $4,979.90 last week before moving into a retracement that has so far seen a decline of as much as -19.6%, as of last week’s $4,001.93 low. […]
Gold Prices May Continue To Fall After Largest Drop In 2 Months
Gold prices plunged as a market-wide recovery in risk appetite sent capital flows pouring out of the safety of Treasury bonds, pushing yields upward alongside shares. The chipper mood likewise echoed in Fed rate hike expectations, with the priced-in 2017 policy path steepening and sending the US Dollar upward. Not surprisingly, this undermined the appeal of non-interest-bearing and […]
Gold Prices Fall As Dollar, Stocks Rise
Gold prices ended Monday’s session down $9.25 as investors continued to cash in profits from a recent rally that pushed the market to the highest level in a year. The reduced anxiety in the marketplace and the rallying world stock markets have put downside price pressure on the safe-haven gold market. XAU/USD is trading at […]
Sensex Reclaims 32,000-Mark In The Opening Trade; Tata Steel Surges 4.2%
Stock markets across Asia are mostly trading in green after a strong rally on Wall Street in overnight trade. The Japan’s Nikkei 225 is up 0.98%. The China’s Shanghai Composite added 0.04% and Hong Kong’s Hang Seng is trading with marginal losses. The US stocks started the week on a positive note and ended the session with solid […]
EUR/USD Builds ABC Retracement Back To Support Trend Line
EUR/USD 4 hour The EUR/USD continued to move lower as it approaches the support trend line (blue) yet again. The bearish bounce is indicating that the recent bullish momentum is probably a wave B (red), which is part of a larger ABC (red) correction. 1 hour The EUR/USD did not confirm the bullish break yesterday […]
Some Are ‘Cheesed Off,’ But Here’s Why The Treasury Rally Can Continue
“At last Treasury yields are rising,” Bloomberg’s Paul Dobson writes, projecting what he imagines might be going through the heads of macro strategists the world over. “A glance over the latest weeklies suggests many of them are getting really cheesed off with the government bond market [and] JPMorgan is perhaps the most explicit,” Dobson adds, before […]
This Is The Dollar’s Worst Year Since The Plaza Accord
Entering 2017, the USD had been up four years running on a broad trade-weighted basis with 8.6% gains in 2014, 10.7% appreciation in 2015 and a more modest 3.0% move in 2016. That last year was a less dramatic move, but from May 2nd lows to the 15+ year peak on January 7th, the buck was […]
