President Donald Trump has announced trade sanctions on China which could involve imposing tariffs on up to $60 billion of China’s products imported into the U.S. Fortunately, the full impact is delayed a bit. Trump’s announcement provides for a brief breathing period — 60 days — before sanctions are imposed, which will allow lobbyists and…
AUD/USD moved sideways in a trading range between 0.7672 and 0.7785. As long as 0.7785 resistance holds, the price action in the range could be treated as consolidation for the downtrend from 0.7916 and a breakdown below 0.7672 support could trigger another fall towards 0.7600. On the upside, a breakout of 0.7785 resistance would suggest…
The Philadelphia Fed’s coincident economic activity index suggests the economy is close to recession. The Coincident Economic Activity Index is produced monthly by the Philadelphia Fed. The indexes are released a few days after the Bureau of Labor Statistics (BLS) releases the employment data for the states. The coincident indexes combine four state-level indicators to summarize current…
Cerberus Capital Management has officially eaten its initial investment in Remington as the country’s oldest firearms manufacturer officially filed for Chapter 11 bankruptcy late Sunday after unveiling a plan last month to surrender most of the company’s assets to its creditors. CNNMoney reported that the company agreed to reduce its debt by $700 million through the Chapter 11…
Here is a brief review of period-over-period change in short interest in the March 1-15 period in nine S&P 500 sectors. XLB (SPDR materials ETF) During last week’s selling, XLB (57.17) not only lost the 200-day moving average but also sliced through the prior low from February 9. Monday’s 2.1-percent rally retook the prior low. But…
The Chart of the Day belongs to the Chinese healthcare stock iKang Healthcare(KANG). I found the stock by using Barchart to sort today’s Percentage Change Leaders first by the highest technical buy signals, then I used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 2/21 the stock gained…
AT40 = 35.9% of stocks are trading above their respective 40-day moving averages (DMAs) (jumped from 25.6%)AT200 = 43.0% of stocks are trading above their respective 200DMAs (up from 2-year closing low at 37.5%)VIX = 21.0Short-term Trading Call: neutral Commentary This is truly a market that is from another planet. In a market that is from another planet, I went…
Data as of 3/26/2018. Past performance no guarantee of future results. It remains to be seen whether the market is in the midst of a garden-variety 10% correction or if this is the start of a deeper bear market. But it does seem like this market is being held aloft buy a small handful of…
It’s time again for our weekly gasoline update based on data from the Energy Information Administration (EIA). The price of Regular and Premium were up a nickel each from last week. According to GasBuddy.com, California has the highest average price for Regular at $3.47 and San Francisco, CA is the most expensive city, averaging $3.57. Missouri…
Stock markets in India are presently trading marginally higher. Sectoral indices are trading on a mixed note with stocks in the healthcare sector and metal sector witnessing maximum buying interest. Telecom stocks are trading in the red. The BSE Sensex is trading up 65 points (up 0.2%) and the NSE Nifty is trading up 25 points (up 0.2%). The BSE Mid Cap index is trading up by 0.8%,…
