The chart below reflects the boys and girls and robo-traders of Wall Street enjoying their last game of chart-point Ping-Pong. As is evident, the squeeze is on, and we don’t think this particular triangle “resolves” with another breakout into the financial stratosphere. When the market peaked at 2873 on the S&P 500 back on January 26, there were 170 points of daylight…
Those that follow my personal account on Twitter will be familiar with my weekly S&P 500 #ChartStorm in which I pick out 10 charts on the S&P 500 to tweet. Typically I’ll pick a couple of themes and hammer them home with the charts, but sometimes it’s just a selection of charts that will add to your…
Fundamental Forecast for the US Dollar: BULLISH US Dollar scores third week of breakneck gains on firming Fed bets April CPI report, Fed Chair Powell speech may keep the rally going CFTC positioning data hints USD rally has scope for follow-through The US Dollar has completed the largest three-week rise in nearly two years, buoyed by swelling Fed rate…
The Dow Jones on Wednesday broke down to double digits in the BEV chart below (-10.11% / 23,924). I was wondering if this was the week the Dow Jones was going to take out its -11.58% (23,533) from March 23rd. But Friday came leaving the Dow at -8.84% / 24,262. The problem for the bulls…
USDCAD’s bounce from 1.2526 extended to as high as 1.2917. A further rise is still possible in the coming days and next target would be at 1.3100 area. Near term support is at 1.2785, a breakdown below this level would indicate that the bounce had completed at 1.2917 already, then another fall towards the bottom…
Is the U.S. the “last man standing” when it comes to the (previously) synchronized global expansion? I don’t know, but what I do know is that the idea of synchronous global growth has been undermined recently by soft data in Europe. Surprise – it’s falling apart: (SocGen) I mean, maybe not. There are some supply-side…
One of the keys to success is choosing the right timing to enter and exit a position. The right timing, mostly, assumes that underlying there is good research and lots of patience. Now, a consolidation period has the largest profit potential, but is the hardest period to overcome. We will illustrate this insight on the…
Argentina has just raised interest rates to 40% trying to support the currency. I have explained many times that interest rates follow a bell curve and by no means are they linear. This is one of the huge problems behind attempts by central banks to manipulate the economy by impacting demand-side economics. Raising interest rates to stem…
GBP/USD extends its sharp fall, dipping under the 1.35 level at one point as data continued disappointing. Sterling now faces the Bank of England’s decision, among other events. Here are the key events and an updated technical analysis for GBP/USD. PMI data added to the misery with manufacturing dropping to 53.9 and services, the largest sector,…
