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Archives by Year:
US Jobs Report Hints At A Gradual Cooling Despite A Strong Headline
Image Source: Pexels US nonfarm payrolls rose 275k in February, but big downward revisions, weak wages, and rising unemployment suggest things are not quite as robust as the headline indicates. Moreover, lead indicators are clearly weakening and a slowdown looks to be on the way. It’s not enough for the Fed to relax just yet, but we think things […]
Chart Of The Day: Bruker Measures Up
Image Source: Unsplash The Chart of the Day belongs to the medical instruments company Bruker (BRKR). I found the stock by using Barchart’s powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum, and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for […]
Nvidia Corp. DCF Valuation: Is The Stock Undervalued?
Image Source: Unsplash As part of a new series, each week we typically conduct a DCF on one of the companies in our screens. This week we thought we’d take a look at one of the stocks that is not currently in our screens, Nvidia Corp (NVDA). ProfileNvidia is a leading developer of graphics processing units. […]
Elliott Wave Technical Analysis: Costco Wholesale Corp. – Friday, March 8
Image Source: Unsplash COST Elliott Wave Analysis Trading Lounge Daily Chart, 8 March 2024Costco Wholesale Corp., (COST) Daily ChartCOST Elliott Wave Technical AnalysisFUNCTION: TrendMODE: Motive STRUCTURE: ImpulsivePOSITION: Minor wave 3. DIRECTION: Completion of wave 3 towards TL 8 or TL1.DETAILS: We are looking at upside in Costco as we seem to be extending higher with increasing […]
Why Are Financial Conditions Easing?
The Fed is doing QT and keeping interest rates at 15+ year highs. Mortgage rates are 7%, credit cards are around 20%, and auto loans are between 7% and 10%. As the graph below on the right shows, consumer loan growth, excluding the pandemic, has fallen to levels last seen over ten years ago. Loan […]
AUD/USD Climbs Higher Amid Mixed US Jobs Data, Lower US Yields
Image Source: Unsplash Australian Dollar rises and marks its third consecutive day of gains. US Nonfarm Payrolls outperform expectations at 275K, but rising unemployment and lower wage growth hint at a cooling job market. AUD/USD’s rally supported by dipping US 10-year Treasury yields and a weakening Dollar Index, amid global monetary policy recalibrations. The Australian […]
Bitcoin Commentary – Friday, March 8
Image Source: Unsplash Bitcoin Holds at HighsFollowing the order book clearout we saw on Tuesday, Bitcoin prices have been grinding back up toward highs. Weakness in the US Dollar ahead of today’s key labor market updates has been helping bolster sentiment with bulls hoping for a fresh move lower in USD today to help spur Bitcoin […]
Gold – Catch It If You Can
Gold and silver surged this week on a sudden increase in demand. In European trade this morning, gold was $2167, a new record and up $85 from last Friday’s close, while silver at $24.49 was up $1.18. Comex volumes in both contracts were heavy, but the startling increase was in gold’s Open Interest, which has […]
BRN Edges Higher Towards It’s 2024 High
BRN edges higher towards its 2024 high ($84.14/bbl)The market, (with a 75% probability according to FedWatch Tool), expects the Fed to loosen its monetary policy in June. However, it could be delayed if inflationary risks remain high. A decrease in interest rates could weaken the U.S. dollar, making oil cheaper for countries with stronger currencies. […]
Will The February Employment Report Support The Current Market Narrative?
Photo by Eric Prouzet on Unsplash The moment the market has been waiting for is upon us this morning – the February Employment Report. Despite the sequentially stronger jobs creation figure found in this week’s February ADP Employment Change report that also showed an uptick in wages for job changers, the expectation is for a sharp drop in […]
