Good day traders! AUD/USD can be trading in a three-wave pullback of a higher degree, labeled as wave B. We see first sub-wave a completed and current choppy, overlapping activity can be a potential triangle within leg b. A minor drop from current levels would suggest a completed sub-wave b and sub-wave c of B…
When Murray Rothbard’s America’s Great Depression first appeared in print in 1963, the economics profession was still completely dominated by the Keynesian Revolution that began in the 1930s. Rothbard, instead, employed the “Austrian” approach to money and the business cycle to explain the causes for the Great Depression, and to analyze the misguided and counterproductive policies that…
As 2017 nears its close, it is time to look back and reflect upon what was another remarkably bullish year throughout the stock market. Tech giants certainly led the way, but a number of indexes soared to new highs, and profits were enjoyed by value, growth, and momentum investors alike. This type of yearly performance…
The data for December 2017 is preliminary, but since we’re coming up on the end of the year, we couldn’t resist updating one of our favorite charts showing the periods of relative order and chaos in the S&P 500 since December 1991! If you would like to access the data for any of the…
Much has been written about the stock market’s advance since the end of the financial crisis in 2009. Without getting into the valuation issues, as I have written about that for maybe too many times, the recent return, nearly past two years, has been pretty remarkable and has occurred with a very low level of…
EUR/USD 4 hour The EUR/USD break below the 100% Fib level of wave 2 vs 1 invalidates the wave 2 (pink) and indicates an expansion of wave 4 (light purple). It needs to break the support or resistance trend line before the short-term direction becomes clear. 1 hour The EUR/USD could still be in a…
Recently, all major US free trade deals in North America, Latin America and Asia Pacific have fallen under fire. As American legacy in free trade is dimming, there is a new opportunity for real free trade in Asia Pacific. Recently, Canadian Prime Minister Justin Trudeau concluded a visit to China. The joint talks about a…
USD/CAD pulled back from 1.2920 after touching 1.2916 (Oct 27 high) resistance. Near-term support is at 1.2835, a breakdown below this level will indicate that lengthier sideways movement in the trading range between 1.2623 and 1.2920 is needed, then deeper decline towards 1.2713 support could be seen. Below this level could trigger further downside movement…
Gold prices ended Tuesday nearly unchanged, after a volatile day that saw prices swing between gains and losses. The XAU/USD is currently trading at $1263.90, higher than the opening price of $1261.39. The key levels I mentioned in my previous analysis are still valid as the market is trapped in a narrow range of around…
