SPY again trying to confirm this monumental head and shoulders pattern. And yes, if this pattern confirms, it does not bode well for the market going forward. Simply put, a close below 1820 on SPX or 182.00 on SPY means this pattern has confirmed. More importantly though will be tomorrow, and whether Friday’s price action keeps…
This is a short update on the gold price. As discussed in the gold video update from three weeks ago, gold’s daily chart was in a cup and handle formation. That triggered a big buy signal around $1,115 after the cup and handle was complete. The target laid out was very easy to calculate: the…
Shares of Avon Products (AVP) are plunging after the company reported fourth quarter results that fell well below analysts’ estimates. Avon manufactures and markets beauty products such as fragrances and cosmetics, and also offers jewelry and accessories. What’s new: Avon this morning said its adjusted continuing operations earnings per share were breakeven, compared with 21c…
Photo Credit: DrivingtheNortheast Pandora Media, Inc. (P) Information Technology – Internet, Software & Services | Reports February 11, After Market Closes Pandora is scheduled to report fourth quarter earnings after the bell on February 11. Shares of the internet radio company has been in a freefall since the company reported third quarter earnings in October. Concerns over…
European peripheral debt is under attack. Yield on the Portuguese 10-year bond yield spiked as high as 4.425% from a low of 3.532% earlier today. Yield is up from 2.654% in January. Portugal 10-Year Government Bond Portugal Bears Brunt of Bond Selloff With Yield at 2014 High Bloomberg reports Portugal Bears Brunt of Bond Selloff With…
We get the University of Michigan Consumer Sentiment numbers and the core Retail Sales numbers during the day on Friday, and as a result it’s very likely that we will get a bit of volatility, especially in the Americas. Gold breaks out Gold markets absolutely shot through the roof during the day on Thursday, as…
For banks, the recent news is pretty grim. But it’s about to get much worse, based on the following: Yield Curve Flattens: Now 10-Year Yields Just 1% More than 2-Year (Barrons) – Ye olde yield curve keeps getting flatter. Wednesday continued the trend — which is most pronounced between two and 10-year maturities. At 2:30…
It finally happened. Rio Tinto plc. (RIO), a major producer of commodities like iron ore, has started to back off its generous dividend payout policy. In its latest earnings statement, RIO announced its total dividend for 2015 will come to 215 U.S. cents per share, the same as it paid out in 2014. Over the past…
If a word could describe the situation in the markets the last 2 days, that word would be chaos. Financial markets are experiencing a global sell-off which has seen trillions of Dollars in value lost worldwide. The selloff is sparked again by FED chairwoman’s Janet Yellen careful remarks on the implications on the US economy…
“Here Comes $20 Oil.” That was the headline in Barron’s this weekend. The article cited the supply side (US fracking and full tilt production from Saudi Arabia and Russia) as the main driver of oil’s low price. With that in mind, Tsakos Energy Navigation (TNP) is a seaborne oil transportation and storage company that makes more money…
