BTC/USD Bitcoin rallied slightly against the US dollar on Monday but continues to be very soft in general. We are hovering above a major support level in the form of the $6500 level, but at this point, I think the best thing we can hope for is a bit of stability. If we break down…
Asian stocks are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.70% while the Hang Seng is down 0.64%. The Nikkei 225 is trading down by 0.89%. US stocks closed sharply lower hit by uncertainty surrounding trade policy and weakness in shares of technology and internet companies. Back home, India share markets opened the day on…
AT40 = 27.3% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 36.2% of stocks are trading above their respective 200DMAs (new 2-year closing and intraday lows)VIX = 23.6Short-term Trading Call: neutral Commentary In my last Above the 40, I tried to highlight the positives even as the negatives in the market grew. Sellers saw fit…
Those wondering how far equities may drop before there is a sustainable bounce may be in for a negative surprise. For those who place faith in technicals, there’s a long way down until the next shelf on a monthly chart. The weekly chart suggests more spots from which to bounce, but nothing looks very firm…
Before I left for a week of vacation at the end of March, the equity markets had begun to exhibit a higher level of volatility. This seems to occur more often than not around this time period each year. This heightened volatility was to the downside and I wrote a post before leaving town noting…
Gold prices rose $15.28 an ounce on Monday as the U.S. dollar and equities weakened after China imposed tariffs on a range of U.S. goods. In economic news, the Institute for Supply Management (ISM) reported that its index of manufacturing activity fell to 59.3 from 60.8 a month earlier. XAU/USD extended its gains after the…
Median household income in the U.S. rose to an estimated $59,055 in January 2018, which is up by a rounded 0.3% from our January 2018 estimate of $59,055. The following chart shows our estimates for the trends for both nominal (red) and inflation-adjusted median household income (blue) from January 2000 through February 2018. In nominal terms, which…
Tuesday’s stock picks: Long TD Ameritrade (AMTD) Long Methanex (MEOH) Short PayPal Holdings (PYPL)
S&P 500 The S&P 500 broke down significantly during the trading session on Monday, clearing to a fresh, new low. There is a significant amount of support just below though, especially near the 2550 level. Beyond there, we should see a significant amount of support at the 2500 level as well. There continues to be…
The first quarter of 2018 was the most volatile quarter in recent years. After booming in January, the global stock market recorded the first quarterly loss in two years, suggesting that one of the longest ever-global bull run might end. The MSCI World Index, which was up 8% in January, suddenly evaporated and declined 1.7% in the…
