EUR/USD 4 hour The EUR/USD market structure remains unclear due to lengthy consolidation zone. Price could either be building a bearish ABC (brown) correction or preparing itself for a bullish breakout as part of a wave 123 (green). The key decision zones for that wave analysis are the trend lines and Fib levels: a bullish…
Thursday’s stock picks: Long Boeing (BA) Long 58.com (WUBA) Short Citizens Financial Group (CFG)
S&P 500 The S&P 500 rallied during the session on Wednesday, breaking above the 2700 level. In fact, we went reaching towards 2720, but found enough resistance or to roll over and form a less than impressive bullish candle. I think that short-term pullback is likely, but I anticipate that there is support extending down…
Since Spring is in the air here are some colorful charts to show you where we feel the price of stocks are within the current bull market. Below are monthly charts of the SP500 index and the price of gold. The first chart shows a pattern that gold formed just before stocks hit all-time new…
The world’s second-largest economy exhibited strong performance in the first quarter. Strength in consumer spending drove expansion and overshadowed the troubles facing the economy. However, this was not enough to convince pessimists of a brighter future, as they questioned the impact of the trade friction and high debt on the economy. Into the Headlines China’s…
IBM – time for it to leave the Dow Index?
The Donald took to some bragging during yesterday’s annual tax filing moment—-assuring America’s oppressed taxpayers that happier times beckon. In fact, he insinuated that MAGA is not just a slogan. By his lights, apparently, we are already living the dream. To wit: On this Tax Day, America is strong and roaring back. Paychecks are climbing. Tax rates are going…
With all the focus on bitcoin lately, we’ve added a new weekly update that tracks the three largest cryptocurrencies by market share: bitcoin, Ether, and Ripple. According to Wikipedia, a cryptocurrency is “a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional…
Stocks Rally On Tuesday This week is shaping up well as the S&P 500 increased 1.07% on Tuesday, meaning it is 3.75% off the February 8th low. I still think the recent high of 2,787 is important. The S&P 500 is now 81 points away from that mark. The earnings season looks like it may actually be…
Alcoa Corp. (AA – Free Report) just released its latest quarterly financial results, posting adjusted earnings of $0.77 per share and revenues of $3.09 billion. Currently, AA is a Zacks Rank #3 (Hold), but that could change based on today’s results. Heading into the report, Alcoa shares had gained more than 23% over the last…
