by Erik McCurdy, Prometheus Market Insight Technical Analysis The index closed moderately lower yesterday (Tuesday 16 December 2014), retreating further from recent highs of the cyclical bull market from 2009 and moving below congestion support in the 1,980 area. Technical indicators are extremely bearish overall, strongly favoring a continuation of the decline from last week. …
Vienna Short-Term Greed Remember several weeks ago when oil was still trading around $75 a barrel, and OPEC was deciding upon a Production cut and Russia and Mexico went to Vienna and a deal was being discussed regarding a combined production cut so that Saudi Arabia wouldn’t have to take the brunt of the cut…
It ended up a roller coaster ride with markets rallying, then suffering losses to return indices to their lows. Volume rose in confirmed distribution, and many indices now sit inside Fib retracement levels – a good place to launch a relief bounce. The S&P finished just a few points above the 50% Fib level, with…
Tianyin Pharmaceutical Co., Inc. (NYSE MKT: TPI), a pharmaceutical company that specializes in patented biopharmaceutical, modernized traditional Chinese medicine (mTCM), branded generics and active pharmaceutical ingredients (API) updates it expects to receive the formal Good Manufacturing Practice (GMP) certificate for its Qionglai Facility’s (QLF) from the China Food & Drug Administration’s (CFDA) by the end…
Will we ever tire of navigating the multiple layers of intermediaries between the customer and the provider, while corporate profits soar to unprecedented heights? If we had to summarize what’s wrong with Corporate America and the entire U.S. economy, we can start with all the intermediaries between the provider and the customer. There are a number…
The S&P 500 closed below 1980 today or the first Fibonacci retracement level described in this week’svideo (see clip). Does a close below 1980 mean it’s game over for the bulls? No, it is not unusual for a rally to retrace to the other Fibonacci levels above (1950, 1919). However, the deterioration in the market’s…
Ambarella Inc. (AMBA – Snapshot Report) has seen its estimates increase due to higher than expected new product sales, specifically the GoPro Hero4 sports camera. Further, new opportunities in drones and wearable cameras along with a solid foothold in professional IP cameras in China are the short and long term growth drivers for this company. Therefore Ambarella is…
Managers need to understand how their business is doing, but normal seasonal variations make this harder. Here’s a basic primer that every business leader needs to understand before looking at data about sales, operations or finance. The Christmas season is a great example of seasonality: it occurs regularly and has a colossal impact on many…
The Ruble is collapsing. This will do dramatic damage to the Russian economy, because many Russian firms have dollar denominated debts. This is a familiar story. Something similar happened in East Asian countries in 1997 and Russia in 1998. There is no good policy response, because defense of the Ruble based on extremely high interest…
Gold prices closed slightly higher on Tuesday after falling 2.5% the session before. The XAU/USD pair initially tried to rally, at one point even managed to climbed above the $1212 level and tested the resistance at $1221. However, as can be seen on the daily chart, sellers stepped in and prices retreated all the way…
