USD/CAD broke below the bullish trend line on the daily chart, suggesting that consolidation for the uptrend from 1.2248 is underway. Range trading between 1.2650 and 1.3124 would likely be seen in a couple of weeks. As long as 1.2650 support holds, the uptrend could be expected to resume and another rise towards 1.3500 is…
Market volatility is back, and in a big way. The double whammy of a potential trade war and the ongoing Facebook scandal are making investors jittery. The S&P 500 and Nasdaq both posted steep losses of more than 2% each, while the Dow Jones dropped more than 400 points into correction territory. That made it…
There comes a point in every major-market advance where one has to decide whether or not the best the market has to offer is in the past, and it’s now time to get out. Of course one may be wrong in their timing of a market top. There is always the possibility that market returns…
The EUR/USD pair looks to follow through higher on the back of the past week’s gain. On the upside, resistance comes in at 1.2400 level with a cut through here opening the door for more upside towards the 1.2450 level. Further up, resistance lies at the 1.2500 level where a break will expose the 1.2550…
Dollar/yen dropped to a new 16-month low of 104.63 and for good reasons. Concern about the global trade was a primary driver and the trouble is not over. The last week of March is the end of the fiscal year in Japan. In addition, US GDP, the Tokyo inflation report, and politics may have their say again….
This headline from Bloomberg’s lead Saturday story pretty much sums it up: “A Horror Week for the Dow Has Investors Begging for Trump Respite”. That reminds me of something we wrote last Sunday in our week ahead preview. Recall this: Again, I guess what I would say here is that if something goes “wrong” with all…
The economic calendar is normal, and we have a four-day trading week. Last week’s big stock decline will surely be on the minds of many. With measures and counter-measures, threats and rhetoric, the trade issue will command the attention of all. The punditry will be searching for signs of compromise, wondering: Can a trade war…
After a long ramp higher, marked by a narrowing rally driven by the concept of portfolio insurance and program trading, the market began to correct lower in the latter part of the year. The first chart shows the hallmarks of what I had identified as a ‘crash scenario’ some years ago. It begins with a…
In looking back a week ago to “Gold’s Narrow Trade; Beware a Cascade”, prices since breaking away from such narrow trading range did come true — right on cue — and up price flew. As if it was foretold by the sybyl, here’s our updated view: Such expansion of range was clearly due, but it…
The S&P 500 (SPX), the Dow Jones Industrial Average (DJIA) and most indices closed in the red on Friday. Since February 1st, markets experienced a rather volatile period and it was no exception for both the S&P 500 (SPX) and the Dow Jones Industrial Average (DJIA). Our article today will look into why Both the…
