Due to diverging RBNZ and RBA monetary policies, the AUD/NZD has formed a strong uptrend breakout above the order block / MH3 confluence. Technically, if the price retraces to 1.0750-75 we should see another bounce towards 1.0876. However, another close above 1.0876 should provide a continuation towards 1.0926 and 1.0944. Around 1.0950 we might see…
The Home Depot, Inc. (HD – Free Report) , the world’s largest home improvement specialty retailer reported first-quarter fiscal 2018 adjusted earnings of $2.08 per share that came ahead of the Zacks Consensus Estimate of $2.06. Also, quarterly earnings jumped 24.6% year over year. Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has witnessed a downtrend in…
Swing trades are aligned with cycles, and cycles do exist as nothing moves in a straight line. Video Length: 00:11:38
Shares of NXP (NXPI) Semiconductors gained more than 12% Monday after a report by Bloomberg that China will restart reviewing Qualcomm’s acquisition bid for the firm. Bloomberg said that Chinese regulators were looking to speed up their assessment of the deal, including solutions Qualcomm has put forward to protect the country’s companies should the acquisition…
Real Interest Rates Are Back in Town One of the biggest developments in the gold market during the first four months of 2018 was the breakdown of the traditional negative correlation between real interest rates and the price of bullion. As one can see in the chart below, the price of gold was uncorrelated or even moved in tandem…
NEM’s cryptocurrency token, XEM, has been one of the slower ones in top 20 to recover from the market crash we saw at the beginning of 2018. However, in the past three days, it has seen enough gains to break above the daily Ichimoku cloud. The gains came as the company announced on Twitter that…
In this past weekend’s newsletter, I updated our previous analysis for the breakout of the consolidation process which has been dragging on for the last couple of months. To wit: “From a bullish perspective there are several points to consider: The short-term ‘sell signal’ was quickly reversed with the breakout of the consolidation range. The break…
I can hardly remember the last time I woke up to a red NQ, red ES, and red ZB (bonds). I think it was about thirteen or fourteen years ago. But it’s a delight to hold, and of course, I’m grateful to the obvious impetus behind this move. In particular, the weakness in bonds is key (as…
Today’s focus is on the price action of Tesla’s (TSLA) stock which is under a lot of technical pressure. Video Length: 00:08:34
Looking for fear in the oil market? Look no further than the Brent versus West Texas Intermediate oil spread that blew out to the highest level all-year and the highest since 2015, with Brent holding a $7.30 premium currently above WTI. European and Asian buyers of Brent are pricing in the risks and realities of…
