The US Treasury (UST) Bubble is the mutha lard of the whole corrupted sistema. It is a coin clipping operation with output deflected or looted to the Crime Syndicate. Obviously the day has already past when incomes will suffice to pay both for essentials and interest payments. Then the whole Ponzi system will collapse by having become…
Who would have thought a beaver could run faster than an eagle? You might want to say that it’s only one quarter and that the Canadian stock market has been beaten up nicely by the US stock market for the past… well I don’t remember since when, but let’s just say that you should never…
EIA numbers are out this AM. Crude Oil supplies – DOWN -4.9 million barrels Gasoline inventories – UP + 1.4 million barrels Distillates inventories – UP + 1.8 million barrels HERE IS WHAT I AM LOOKING AT: DAILY PRODUCTION – DOWN 14,000 barrels per day. Production has now fallen 10 out of the last eleven…
The Chinese economy has been at the root of the broader market malaise since the start of 2016. But, the world’s second largest economy showed signs of improvement in March. China’s factory indicators point to a pickup in the economy supported by greater stability in the yuan and a rise in its stock markets. Pressure…
Following yesterday’s API data, which showed the biggest draw of 2016 with a 4.6 million reduction in oil inventories, everyone was keenly looking forward to today’s DOE data. Moments ago the DOE indeed confirmed the API data, reporting that in the past week oil inventories declined by 4.949MM, more than the API print, down from last…
Here is the multi-index weekly chart. Most are above former resistance but… where are higher highs? Show me higher highs, Jerry.
The old head and shoulders pattern in the dollar against the yen is back in vogue. We first pointed it out the first week in January here. Recall the details. The neckline is drawn around JPY116.30 and measuring objective is near JPY107.00. That target also corresponds to a 38.2% retracement of the big Abe-inspired dollar rally (~JPY106.80). This …
The Dow failed to elect any Monthly or Quarterly Bullish Reversals. It did elect two of the three Weekly Bullish Reversals, leaving the 3rd intact. We provided these numbers previously, warning not to expect follow-through without electing all three. “In the Dow, we have a cluster of Weekly Bullish Reversals starting at 17680, 17750, and…
Pfizer (PFE) announced that the merger agreement between Pfizer and Allergan (AGN) has been terminated by mutual agreement of the companies. The decision was driven by the actions announced by the U.S. Department of Treasury on April 4, 2016, which the companies concluded qualified as an “Adverse Tax Law Change” under the merger agreement. In…
On Monday, the AUD/USD pair traded lower due to a sell-off in the AUD caused by the worse than expected retail sales figures in Australia. The Aussie’s February retail sales came in flat on a monthly basis, expectations being of a 0.4% rise month-on-month after a 0.3% monthly rise in the month of January. The…
