NZD/USD The New Zealand dollar has had a rough week yet again, testing the 0.68 level. I believe that if we break down below the lows of the week, we will continue the downward pressure. Any rally at this point in time will probably face a significant amount of resistance near the 0.70 level as…
Financial markets are likely to remain at the mercy of US politics despite a flurry of speeches from key central bankers and several big-splash releases on the economic calendar. US Dollar Forecast: Politics to Overshadow Yellen Speech, FOMC Minutes The US Dollar is likely to remain at the mercy of politics-driven volatility as inflationary fiscal stimulus prospects…
EUR/USD broke above the falling trend line on the daily chart and is now facing 1.1879 resistance. A breakout of this level will confirm that the downside movement from 1.2092 had completed at 1.1554 already, then further rise towards 1.2092 previous high could be seen. Above this level could signal resumption of the uptrend from…
AT40 = 47.9% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 54.6% of stocks are trading above their respective 200DMAsVIX = 11.4Short-term Trading Call: cautiously bullish Commentary The S&P 500 (SPY) failed to follow-through on Thursday’s snapback rally, but a bullish divergence kept the short-term prospects looking good. While the index gapped down and fell…
Global financial markets ended the week on a mixed note. In the US, the Dow industrials ended the week down 0.4%, while the S&P 500 declined 0.1%. It was their biggest two-week declines since mid-August, when worries about rising tensions between North Korea and the US weighed on stocks. Debate over the prospect of a significant…
The economic calendar includes few reports, crammed into two days of a holiday-shortened week. Many will be taking time off – including some of the “A List” pundits. I expect to see some new faces on financial television and a lot of discussion about consumers and the economy. Many will be asking: What does Black…
A Trumpet, in the hands of an accomplished musician, can be played to sound like the penetrating cry of an elephant. How ironic that the elephant in the photo is a wooden shell of a prehistoric woolly mammoth, or another version of our Rallysaurus. The rally is blowing its own horn in the face of…
The good news is: Beginning last Thursday new lows all but disappeared and the secondaries outperformed the blue chips. The Negatives The negatives disappeared at the end of last week. The Positives The breadth indicators turned upward beginning last Thursday and continued to move upward on Friday in spite of a down day for the…
“No matter how you “slice-and-dice the data,” hedge funds are struggling to meet their promise to clients to consistently produce high returns with low correlation to markets. It’s kind of: ‘I promise you a Rolls Royce and I give you a Honda.’” – Matt Granade, Chief Market Intelligence Officer, Point72 Asset Management There are more hedge funds…
Stocks end a volatile week right where it began the week. In this crucial weekend update learn we look at what to expect next week and what risks are lurking.
