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Archives by Year:
Stocks Rally Anticipating Historic Tax Cut
Republicans have been salivating over corporate tax cuts and repatriation of the estimated $2.6 Trillion in cash on US company balance sheets overseas that can’t be brought home due to double taxation. Why would Apple repatriate any of its $252 Billion after-tax cash hoards, only to have $88 Billion confiscated by US taxes? Instead, US companies borrow here against their overseas cash elevating […]
USD Testing Critical S&R Levels Versus EUR, GBP And JPY
EUR/USD 4 hour The EUR/USD could be in a wave B (purple) bearish retracement but the bullish price action looks strong. A push higher could occur based on yesterday’s bullish bounce but a break above the 100% Fibonacci level invalidates the wave B zigzag pattern. 1 hour The EUR/USD break below support (blue) could see […]
AUDUSD Daily Analysis – Friday, Dec. 1
AUDUSD extended its downside movement from 0.7644 to as low as 0.7550. Deeper decline to test 0.7532 support is still possible. A breakdown below this level will indicate that the downtrend from 0.7897 has resumed, then next target would be at 0.7450 area. Near-term resistance is at the top of the price channel on the […]
Barclays Ups GM Price Target To $57 After Tech Day
Barclays analyst Brian Johnson raised his price target for General Motors (GM) to $57 from $55 following yesterday’s tech day. The automaker closed yesterday down 72c to $43.09. While some view GM’s target of commercially launching at scale autonomous ridesharing in dense urban environments in 2019 as an unrealistic target, similar to the timelines pushed […]
Stock Exchange: Is It Time To Be Contrarian?
This Week: Is It Time To Be Contrarian? So far, volatility has ticked up this week, and the stocks that had been performing best all year (e.g. momentum, technology, growth, FANG) are underperforming this week, thereby leaving some investors wondering if it’s time to get contrarian. Considering momentum and FANG-type stocks have been performing so […]
E USDCAD Trading Near 1.2916 Resistance Zone; A Drop Can Follow
USDCAD was on the rise for the last week or so, it moved nicely from 1.2660 towards 1.2900 where pair may find resistance. The reason is a three wave recovery from November low that can be wave B) as part of an Elliott wave flat correction. In flats wave B) will usually find a turn […]
Tax Bill Adds $1 Trillion To Deficit (Without Cutting Taxes For Most)
Nonpartisan analysis, from several places, shows the Senate tax bill will all $1 trillion to the deficit. What’s next? The stock market surged today on news that Senator John McCain would vote for the tax package. As it stands, however, the bill does not remotely come close to passing budget rules. Automatic tax hike triggers […]
Sensex, Nifty Trade Flat; Energy & Metal Stocks Top Losers
Indian share markets continue to trade flat with a negative bias during the morning trade. Sectoral indices are trading on a mixed note with FMCG sector and capital goods sector leading the gains. Metal stocks and energy stocks witness the majority of the selling pressure. The BSE Sensex is trading lower by 25 points and the NSE Nifty is trading lower by 9 points. The BSE Mid Cap index is […]
Brexit: Irish Border Is Far From A Done Deal – Will GBP Fall?
Optimistic reports on a deal around the thorny Irish border issue were probably premature. An agreement that has a lot of “creative ambiguity” in it worried the DUP party that holds the British government intact. They threatened to bring down the May government if the union is in danger. And now it seems that such an agreement […]
An Update On Polly: She May Be Coming Back To Life
A Twitch of a Toe In our recent update on credit spreads we proposed to use the seemingly deceased Monty Python parrot Polly as a stand-in for the suspicion of creditors in today’s markets.The question was whether Polly was indeed dead or merely in a deep coma. Depending on this, one should be able to gauge how powerful a […]
