While the S&P (but not the Dow Industrial Average) enjoyed solid gains on heavy volume accumulation it was left to Tech Indices to steal the headlines. The Nasdaq closed the week on new closing highs as volume surged. The gains were enough to see a new ‘buy’ trigger in the MACD which keeps the index…
Before the year ends, I wanted to take a brief look back at the last six month, but more importantly, at the year ahead that awaits us. In my last market update, from June 23 of this year, we discussed the continuing bull market in SPX and how it was following nicely the 10 year crude…
20,000 nearly reached, so far, today, on Bitcoin… Monthly chart Bitcoin CBOE Futures are lagging and have yet to tag the debut high. Daily chart It would appear that the sky’s the limit until this crypto currency bubble bursts.
Despite the popular notion that interest rate hikes have a bearish impact on gold prices, spot gold headed for the biggest gain in three weeks after the rate hike. Gold prices moved up 0.58% to $1,255.90 an ounce on Dec 14. This was because the market had already factored in the possibility of a rate…
Talking Points: S&P 500 trying to close year on a strong note; calendar lightens up, watch for Monday gap on tax bill DAX remains idle in a range, waiting for a break – general risk appetite favors a breakout FTSE may make a move on new record highs in the week ahead S&P 500 Last week, the Fed…
The economic calendar is loaded, especially with reports on housing. Despite this, the calendar and recent events will stimulate pundits to get out their crystal balls. I expect many to be asking: Can the rally in stocks find fresh legs in 2018? Last Week Recap In the last edition of WTWA I observed that Santa…
USD/JPY moved sideways in a trading range between 110.84 and 114.73. As long as 110.84 support holds, the sideways movement could be treated as consolidation of the uptrend from 107.31. A breakout of 115.50 resistance will indicate that the long term uptrend from 98.97 (Jun 24, 2016 low) has resumed, then a further rise towards…
Until the financial markets begin upchucking the “liquidity” being forced fed to them, we can anticipate the stock market will continue going up as the old monetary metals for the most part continue holding on to what they have. Except for Thursday, the Dow Jones closed at new all-time highs every day this week. That…
This week will see a news agenda of average weight, with the key items coming as key economic data releases for the U.S. Dollar. There will also be important Japanese and Australian central bank input. The market will probably be most active on Thursday. U.S. Dollar It will be an important week for the greenback,…
