Thoughts Retail Sales growth: this bull market in stocks still has 1-2 years left. U.S. could increase trade tensions with China. A short term bearish factor for the stock market. Stocks’ reaction to their earnings is not a medium-long term bearish factor for the stock market. Companies set to buyback $800 billion in stocks this…
Gold prices rose slightly yesterday despite better risk appetite in the marketplace to start the trading week. U.S. stock indexes ended the day higher, buoyed by some strong corporate-profit reports. In economic news, the Commerce Department reported that retail sales jumped 0.6% last month. A separate report from the New York Federal Reserve Bank showed…
GBP/USD 4 hour The GBP/USD uptrend keeps pushing for higher highs. Price has now arrived at the previous top on a daily chart which is a strong resistance level. A bullish breakout could see price make an extension towards the round level at 1.45 whereas a bearish retracement could test the support trend lines. 1…
GBP/USD 4 hour The GBP/USD uptrend keeps pushing for higher highs. Price has now arrived at the previous top on a daily chart which is a strong resistance level. A bullish breakout could see price make an extension towards the round level at 1.45 whereas a bearish retracement could test the support trend lines. 1…
USDCAD remains in the downtrend from 1.2943, the bounce from 1.2544 could be treated as consolidation for the downtrend. Support is at 1.2544, a breakdown below this level could trigger another downside movement towards 1.2450 area. Near-term resistance is at 1.2625, only a break of this level could bring the price back towards the falling…
Crude oil prices turned sharply lower, snapping a five-day winning streak. The move seems to have reflected easing concerns about escalation in Syria after US President Trump signaled a weekend rocket attack meant to punish the government for using chemical weapons was a one-off. Trump also backed away from sanctions aimed at penalizing Russia for its support of…
Mr. Trump tweeted yesterday: Russia and China are playing the Currency Devaluation game as the U.S. keeps raising interest rates. Not acceptable! — Donald J. Trump (@realDonaldTrump) April 16, 2018 U.S. Treasury reported on Friday: Pursuant to the 2015 Act, Treasury finds that no major trading partner of the United States met all three criteria in the…
Tuesday’s stock picks: Long Caterpillar (CAT) Long Sonic (SONC) Short LPL Financial (LPLA)
Asian share markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.1% while the Hang Seng is down 0.2%. The Shanghai Composite is trading down by 0.4%. Back home, India share markets opened the day on a flat note. The BSE Sensex is trading higher by 15 points while the NSE Nifty is trading up by 3 points. The BSE…
S&P 500 The S&P 500 rallied significantly during the trading session on Monday, gaining almost a full percent by the time we started to close out the session. The market looks likely to break above the 2680 handle, and that should send the market towards the 2700 level next. Beyond there, the market will go…
