Category Archive: Finance, No picture
The Market’s Four Directions
Apache Crown Dancers wearing black masks represent the four directions. North, South, East, and West. So far this week, Transportation (IYT ) posted a topping pattern based on a new high followed by a high-volume break of the prior day’s lows. At the same time, Semiconductors tested the key weekly moving average, held it and […]
How “Wealthy” Would We Be If We Stopped Borrowing Trillions Every Year?
These charts reflect a linear system that is wobbling into the first stages of non-linear destabilization. The widespread presumption is the U.S. is wealthy beyond words and will remain so as far as the eye can see: wealthy enough to fund trillion-dollar weapons systems, trillion-dollar endless wars, multi-trillion dollar Medicare for all, multi-trillion dollar Universal Basic […]
Italy Capital Flight Escalates: Highest Two-Month Total Ever
Capital Flight in Italy escalates at a record pace. It’s seen in Target2 balances and spreads rather than an EM crisis. Thanks to Holger Zschaepitz for this set of Tweets. Silent Capital Flight #Italy saw record-high capital outflow of €76bn in May-Jun, larger than €51bn outflow in Jun-Jul2011 and €56bn in Feb-Mar2012, Citi has calculated. […]
Musk Hires Morgan Stanley As Advisor On Going Private Transaction
First Elon Musk said he had hired Goldman Sachs (along with a bunch of other advisors), even though the bank initially denied it had been formally retained. Then, moments ago Fox Biz News’ Charlie Gasparino reported that Elon Musk had also retained Morgan Stanley to assist him in his “funding unsecured” bid to take Tesla private. SCOOP @elonmusk retains […]
New Home Sales Sink 1.7% To 627,000 Units: Builder Spec Homes Most Since 2009
New home sales in July were 627,000 units SAAR. Economists expected a rebound in new home sales to 649,000 from 631,000. The Econoday economists missed the mark badly once again in their housing estimates. Sales in July slipped to 627,000 units seasonally adjusted annualized (SAAR), well under consensus and even lower than the bottom estimate of 630,000. […]
Fed Minutes Analysis Continuation
Fed Minutes Analysis – Other Risks The Fed Mentioned: Inverted Yield Curve I will continue my discussion in a previous article of the risks the Fed mentioned in its Minutes. The Fed mentioned the yield curve again, but ultimately since it is expected to raise rates in September, it doesn’t seem like it matters. It’s just lip […]
Is EUR/USD Rolling Over Ahead Of Powell?
As we noted in the recap to yesterday’s FOMC minutes (see “FOMC Minutes: Three Frustrating Fed Fears Fail to Fade” for more), this week’s marquee event for the US economy was always going to be Fed Chairman Jerome Powell’s speech at the Jackson Hole Symposium, which takes place at 10:00am ET. Especially after central bank policymakers expressed […]
USD/JPY Price Outlook: Yen Reversal Faces Initial Resistance Hurdles
USD/JPY recovery testing first major resistance hurdle- price remains constructive above 110.59 The Japanese Yen has been under considerable pressure over the past few days after price (USD/JPY) responded to a key support confluence. Here are the updated targets and invalidation levels that matter on the USD/JPY charts heading into Jackson Hole this weekend. Review this week’s Strategy Webinar for an […]
Fed Minutes Focus On Risks
Fed Minutes: Are They A Hodgepodge? Fed minutes – Some have commented that the Fed Minutes is a mishmash of various discussions had by investors, members of the media, and economists. That’s probably a harsh way to put it because you can’t expect the Fed to not talk about the news of the day such as trade […]
4 Energy Mutual Funds To Buy As Oil Prices Rally Above $74
The Energy Information Administration (EIA) on Aug 22, reported that U.S. crude inventories dropped by 5.8 million barrels for the week ending Aug 17. Following this, crude oil price rose to a two-week high to just over $74 a barrel. Moreover, crude-oil futures increased for the fifth consecutive session. This rise was partially supported by […]
