Vanguard communication services ETF ticker symbol: VOX short-term Elliott Wave view suggests that the bounce to 88.35 on 4/24/2018 high ended cycle degree wave “b”. Below from there, the cycle degree wave “c” remain in progress as an Impulse Elliott Wave structure looking for more downside extensions. Down from 88.35 high, Primary wave ((1)) is in progress as an Impulsive structure…
I keep on hearing about the supply-side miracle associated with the the Reagan era tax cuts. What do changes in estimated potential versus actual output suggest? Figure 1: Year-on-year growth rate of real GDP (blue), and of potential GDP (red), calculated as 4th differences of logged values. Dashed lines at effective dates for Economic Recovery Tax…
Shares of Monro (MNRO) and other tire and auto parts retailers are sliding after Sears Auto Centers (SHLD) announced that it is working with Amazon (AMZN) to provide full-service tire installation and balancing for customers who purchase tires through the online retailer. Late last year, Monro had disclosed that the company was in talks with…
Roman poet Juvenal is perhaps remembered most for his plaint about his countrymen’s declining heroism. In his Satires, he wrote: “The people that once bestowed commands, consulships, legions, and all else, now meddles no more and longs eagerly for just two things—bread and circuses!” “Bread and circuses” refers to the diet of entertainment and grain…
After reporting a positive earnings surprise of 14.3% in the final quarter of 2017, Office Depot, Inc. (ODP – Free Report) delivered in-line earnings in the first quarter of 2018. Meanwhile, the top line came ahead of the Zacks Consensus Estimate for the third straight quarter. Favorable results and strategic initiatives, including strengthening of core businesses and expansion of…
Top tickers for midday: WFT, BAC, BP, GE, ABBV, RIG.
Wholesale inventories rose less than economists expected. The advance estimate was simply too high. The Econoday consensus range for wholesale inventories was 0.5% to 0.6% in line with the advance estimate. Instead, the Census Department reported March Wholesale Inventories at +0.3%. February was revised a tad lower, to +0.9% from +1.0%. Sales: March 2018 sales of merchant…
The AUD/USD reached the lowest levels in 11 months and began recovering as the US Dollar finally takes a breather. However, the pair may run into massive resistance. The Technical Confluences Indicator shows that the 0.7477 level is the convergence of the Simple Moving Average 200-15m, the SMA50-1h, the Fibonacci 38.2% one-day, the one-month low, the one-week low, and the…
In July of 2015, CNN Money featured an article with the optimistic and intriguing title “More American teens are getting jobs. That’s good for everyone.” The article opens with an example of 16-year-old Lauren Miller, who loves her minimum wage job at Hershey Lodge in Pennsylvania, “roasting s’mores and organizing activities for kids.” The article goes on…
There are some signs US consumers are beginning to save up a little and cut down on credit card debt. If – big IF – sustained, this will have consequences for the economy, not to mention stocks. In general, a drop in money-market fund assets tends to bode well for stocks. Not of late, though….
