Markets had started Friday above the marked consolidations I had drawn on the charts but subsequently ended the week still inside these trading ranges. As a two-day pattern, Friday’s close finished as a bearish engulfing pattern across markets which means I’ll be looking for a break of newly drawn ascending support (of the last 8…
Caterpillar CAT has seen its stock price sink more than 11% over the last 12 weeks. The construction and mining equipment power’s shares have tried to recover recently, but it might take strong first quarter financial results for CAT to get back on track amid the current market volatility. Caterpillar posted pretty substantial top and bottom…
Talking Points: Chinese trade data came in broadly stronger However market reaction was muted The trade spat with Washington may have rendered these numbers too historic to be of interest The Australian Dollar showed little reaction to a broadly stronger set of Chinese trader figures Friday, perhaps because the ongoing tariff spat between Washington and Beijing has…
It’s worth noting that the aim of the #ChartStorm isn’t necessarily to arrive at a certain view but to highlight charts and themes worth paying attention to. So here’s the another S&P 500 #ChartStorm write-up. 1. The Euphoriameter: First up is a look at what’s down and that’s the Euphoriameter, it has fallen 0.31 pts off the…
Goldman Sachs analyst Eugene King upgraded BHP Billiton (BHP) to Buy with an increased price target of A$35.50. The analyst expects BHP’s cash conversion to reverse in the second half of 2018 following a disappointing first half of the year. BHP has a number of upcoming catalysts, including the divestment of its onshore assets, to…
The US dollar has fallen during most of the week against the Canadian dollar, but towards the end of the week, we did start to see a bit of buying. I think that the 1.25 level will cause a bit of support, but more importantly we have a major uptrend line underneath that should continue…
Nick Szabo, the inventor of smart contracts and Bit Gold, laid the foundation for the creation of Bitcoin. He defined smart contracts 14 years before Bitcoin. Then he theorized bits having value based on proof of work five years before Bitcoin. With degrees in both computer science and law, and an intense fascination in the…
If you think you can hide out in ETFs or high growth stocks and weather the downturn, please think again. In case you failed to notice, investment sentiment has changed. The stock market struggles to go up on good news. Investors wonder if the Fed still has their back. Some think they can weather the…
EM FX was mixed Friday, capping a mixed week as a whole.COP, CLP, and MXN were the best performers last week, while RUB, BRL, and TRY were the worst. While concerns about trade wars and Syrian missile strikes have ebbed, risks to EM remain elevated.US retail sales Monday and Fed Beige Book Wednesday are the…
Our projection for the S&P 500 (SPX) in the coming week is for pullback in the S&P 500 to the support zone of 2616 – 2620.
