This post will outline how the U.S. Major Indices, Major Sectors, S&P 500 Index and the SPX:VIX Ratio performed throughout 2017 and how they ended the year. U.S. Major Indices The following 1-year daily charts and year-to-date percentage-gained/lost graph show that all Major Indices, except Utilities, are trading well above their 50-day moving average, and that Technology made the most gains, followed by Transports, Large-Caps, Small Caps, and,…
The EUR/USD pair extended its upside pressure the past week opening the door for gain in the new week. On the upside, resistance comes in at 1.2050 level with a cut through here opening the door for more upside towards the 1.2100 level. Further up, resistance lies at the 1.2150 level where a break will…
Key announcements this week include a couple of acquisition announcements and regulatory updates from Novartis (NVS – Free Report) . Recap of the Week’s Most Important Stories Roche to Buy Cancer-Focused Ignyta for $1.7 Billion: Roche (RHHBY – Free Report) , which has a strong presence in the cancer market, announced its intention to acquire Ignyta in a deal valued…
We reviewed the first 10 bear market signposts in a previous article. This article will look at the next few. Remember that, of the first 10, I felt 3 were irrelevant. The 11th signpost is triggered when the net percentage of consumers who think stocks will move up is above 20%. Since stocks move up about…
2017 will go down in history as another solid year for Wall Street. The major averages all surged to fresh record highs as volatility remained exceptionally low. There were several bullish macro catalysts for the strong rally on Wall Street, most notably: Strong GDP, Corporate Earnings, and Low-Interest Rates From Global Central Banks. The…
Talking Points: The Chinese Yuan gained over 7% against the Dollar in 2017; it approached major resistance levels at the year end. High-quality of growth will be China’s major theme in 2018; prudent monetary policy will continue to apply. Curbing financial risks will be PBOC’ primary target in 2018; other risks are seen in trade…
Chinese consumers conduct 11 times more mobile payments than their counterparts in the United States, so as we look to the future of digital wallets, China is a natural place to start. Forecasts for mobile payment adoption in the United States remain flat for now; however, two major brands – WeChat and AliPay – offer…
Yesterday morning we highlighted that even as the broader cryptocurrency universe had gotten slammed following the latest threats out of South Korea, the price of the digital currency XRP, also called Ripple, exploded over the past week, and overtook Ethereum in market cap, making it the second biggest cryptocurrency in circulation after Bitcoin. Then overnight the surge…
After multiple challenges of Short-term and Intermediate-term resistance, VIX rallied in the final hour on Friday to close above Long-term resistance at 10.98. This action generates a clear buy signal. A breakout above the Ending Diagonal trendline suggests a complete retracement of the decline from January 2016, and possibly to August 2015. (SeekingAlpha) 2017…
