EUR/CAD was trading bearish the last few days, but I still see it as a three-wave a-b-c correction where we can clearly see an Elliott wave ending diagonal pattern within wave v) of c. The first evidence of a reversal would be a break above 1.5630, but bulls would be confirmed only above 1.5815. EUR/CAD, 1h…
The Russian ruble tumbles on fresh US sanctions. Meanwhile the Russian central bank chief and other officials tried to soothe investor nerves as the U.S. sanctions targeted some of the large companies in Russia. The ruble fell to 63 to the U.S. dollar losing about 4.5 percent on April 10 which marked the biggest decline…
The world’s second-largest economy China sustained strong economic momentum in the first quarter of the year. The economy expanded at 6.8 percent year-on-year in the first quarter, same as the last quarter of 2017 and the 6.8 percent projected by analysts. Retail sales rose 10.1 percent in March, better than the 9.7 percent forecast. While…
Webster’s dictionary defines allegory as a story in which people, things or happenings have a symbolic or hidden meaning that can be used effectively in teaching or explaining difficult ideas.Accordingly, an allegoric story is used here to explain the important difference between a government income statement and balance sheet, and its application for investment decisions…
Oh My Gosh! OmiseGo’s token, OMG, just confirmed above the daily Ichimoku cloud. It was one of the only cryptocurrencies to see gains on Monday, next to Cardano. But what is OmiseGo and how should you invest in it? Read on! What is OmiseGo? OmiseGO is an existing payment management platform similar to Stripe. It was…
AT40 = 55.8% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 46.3% of stocks are trading above their respective 200DMAsVIX = 16.6Short-term Trading Call: neutral Commentary The buyers went right back to work after bears engulfed the end of trading last week.The indices crept higher on the day toward critical resistance at their 50-day moving…
After opening the day flat, share markets in India have continued to trade rangebound, and are trading marginally below the dotted line. Sectoral indices are trading on a mixed note with stocks in the capital goods sector and stocks in the IT sector leading the losses. The BSE Sensex is trading down by 11 points (down 0.1%), and the NSE Nifty is trading down by…
Source: Admiral Markets MT5 with MT5SE Add-on US retail sales overnight exceeded expectations, and in particular car sales were higher in the US, which is good news for DAX30 car exporters. European Equities have been a little bit under pressure as the EUR continues to gain strength, making their exports more expensive. Monthly trend is still intact, with…
Stock markets edged higher on Tuesday as the dollar remained stable as earnings season began in earnest and mixed data out of China brought tempered optimism. China’s economy grew 6.8 percent in Q1 2018 as compared to Q1 2017, reports on Tuesday showed. This positive report was met with less than stellar results in other…
In previous blog posts (e.g. hehe) I explained the limitations of sentiment as a market timing tool. Since the public is invariably wrong at price extremes, it certainly can be helpful to track the public’s sentiment and use it as a contrary indicator. However, whereas price extremes always coincide with sentiment extremes, sentiment extremes often don’t…
