Running length 00:28:54 Cable created two beautiful bearish patterns; a head and shoulders and a wedge. Both of them resulted in a downswing. The price is currently aiming at a very important support; the long-term upwards trend line. Any bullish reversal pattern should be a strong buy signal here. USDCAD also created a head and…
Inquiring minds are investigating Jerome Powell’s speech on his Outlook for the U.S. Economy presented today at the Economic Club of Chicago, Chicago, Illinois. Here are a few key quotes. After what at times has been a slow recovery from the financial crisis and the Great Recession, growth has picked up. The labor market…
The Masters’ tagline has been “a tradition unlike any other” for years. The validity of this claim aside, the first major championship of the year at Augusta National Golf Club is unique to the rest of major sports and golf as a whole for the simple fact that it does not pursue the most money…
EUR/USD Elliott Wave Forecast in 15 Minutes chart Bullish trend is present in EUR/USD currency pair, 15 minutes chart. As I have suggested via my Elliott Wave Forecast few hours ago, during my daily Forex Live Trading Room session, the price of EUR/USD currency pair is going to rise up now on a short-term…
Apple CEO Tim Cook and Facebook CEO Mark Zuckerberg have been all over the news this week. Mr. Cook has admonished Mr. Zuckerberg for Facebook’s current predicament and has been exceptionally self-serving proclaiming Apple’s data privacy policies as moral high ground. Before your eyes glaze over and you decide you are already a world-class expert…
The 5 minute $SPY chart displays end of day rally. But it may have just meant some squaring up into the close.
Stocks were able to nearly hold their ground with modest losses into the European close. They were rattled by the rather poor Non-Farm Payrolls Report, but especially by the escalating war of words over trade between the US and China. Trump could not resist answering the Chinese braggadocio about victory with another $100 Billion in tariffs….
Two days ago, when we commented on the early morning plunge in stocks (which was subsequently fully reversed by the close in a historic 800 point Dow reversal), we said that a long-standing question – will Trump pick plunging stocks or trade war- had finally gotten its answer when CNBC’s Eamon Javers said that a “White House official…
The latest index reading came in at 21.4, up from 20.8 the previous week. RecessionAlert launched an alternative to ECRI’s Weekly Leading Index Growth indicator (WLIg). The Weekly Leading Economic Index (WLEI) uses fifty different time series from these categories: Corporate Bond Composite, Treasury Bond Composite, Stock Market Composite, Labor Market Composite, Credit Market Composite. RecessionAlert emphasizes that…
Stocks opened lower and stayed in the red throughout early morning trading Friday after reports emerged suggesting that President Trump is doubling down on tariffs and has ordered the U.S. Trade Representative to consider new charges on an additional $100 million in Chinese imports. The move is an extension of trade disputes between the U.S….
