As the Dow is quickly approaching the 25,000 level, some might find it hard to remember that in the very near past, the Dow traded sideways for 21 months! Any reason the Dow didn’t make any progress for over a year and a half? Could part of the reason be a key Fibonacci extension level?…
Briefly: Intraday trade: Our Monday’s intraday trading outlook was neutral. It proved partly accurate. The S&P 500 gained 0.5% following higher opening of the trading session (+0.4%). Overall, the intraday trading range was relatively tight following daily gap-up opening. The S&P 500 index got close 2,700 mark on Monday. We still can see technical overbought…
The U.S. Census Bureau and the Department of Housing and Urban Development have now published their findings for November new residential building permits. The latest reading of 1.298M was a decrease from a revised 1.316M in October and above the Investing.com forecast of 1.273M. Here is the opening of this morning’s monthly report: Building Permits Privately-owned housing…
The economic growth in Myanmar is now among the highest in Asia, and it’s come a long way since the 1960’s when it was considered one of the world’s most impoverished countries. It’s instructive to understand how this change took place, what some of the current economic metrics indicate, and current pressures being placed on Myanmar from the…
Seventeen years ago, iShares launched its first wave of ETFs, and immediately changed the asset management business. A member of that team recalls how the magnitude of its success took even some insiders by surprise. This season, I opted (with bit of a prod from upstairs) to extend my end-of-year lookback to the naissance of…
US tax changes appear to be providing fuel for the year-end advance that has carried the major indices to new record highs. The coattails are a bit short, and while global equity markets are firm, they are unable to match the strength of US. Despite a heavier tone in Japan, Taiwan, and Korea, the MSCI Asia…
Indian share markets continued to witness buying momentum in today’s session as well as it moved closer to an all-time high helped by the Bharatiya Janata Party’s electoral success in Gujarat and Himachal Pradesh. The sentiment also remained upbeat on bets that US tax reforms Bill will go through supported the uptrend. At the closing bell, the BSE Sensex closed…
A cryptocurrency exchange in South Korea collapsed on Tuesday after it suffered a second cyberattack in eight months and lost a large amount of its digital-currency reserves. This spooked Asian investors who sold Bitcoin (and other cryptos). As The Wall Street Journal reports, Yapian, the company that operates a Seoul-based exchange called Youbit, suspended digital-currency trading and filed for bankruptcy…
Last Christmas, you said shale would jumpstart, but very soon after, it all fell apart, this year you say no more tears, you say that shale will be special. Last Christmas you said production would rise, it did, but fell far short of your prize. This year, you say have no fear, we will hit…
In last week’s Technical Update, I discussed the potential for the S&P 500 to hit 2700 by Christmas. To wit: “The current momentum behind the market advance is clearly bullish, and with the ‘smell of tax reform’ in the air, there is little to derail the bulls before year-end. However, in the meantime, there seems to be nothing…
