The WTI Crude Oil markets initially tried to rally during the course of the day on Monday, but turned back around to form a shooting star. That being the case, we are sitting right on top of support and that of course is a very bearish sign. I also recognize that the $50 level is…
Google didn’t have a great year in 2014. Starting out the year at $556 per share, it floundered all year, ending up dropping to $530 to close out December. It continued its decline in January, dropping to $497 before starting to grow again. The reason for the struggles: Google seemed to be losing its touch…
It’s a strange world we live in that has a company like Facebook as a steady, consistent, rock-solid performer whereas International Business Machines has become the unreliable, flaky stock that likes to make huge price gaps based on earnings surprises. But that’s the truth. The big drop IBM took last October took nine months to heal (see arrows). That…
USD bullish tone remains unchanged today in a quiet market so far. View that the Fed will increase rates in September (50% chance) and relatively soft data out of EU (German PPI index fell by 1.4% in June compared to a year before) helped maintain the demand for the greenback at high levels. Strong USD…
The light news stream has spurred some position squaring by short-term momentum traders. This is giving the dollar a somewhat heavier tone, and weighing on European equity markets. European bonds and Treasuries are little changed, though slightly firmer. The general narrative of the dollar’s firmer tone is that the market feels more confident that the…
I have been stating all along that attempting to forecast gold in isolation is the equivalent of summoning a witch doctor for cancer. Everything in this world is connected. Civilization unfolds as a synergy of people coming together and the sum is greater than the individual parts. This too, is what government is tearing…
2015 so far was a choppy market for most stocks. Many stocks broke out however they failed. With that said … Palo Alto (PANW) and Sketchers (SKX) trended wonderfully. Combine fundamental and technical studies in order to succeed.
Capital controls imposed by the Greek government are taking a heavy toll on Greek businesses, according to a new report from Endeavour Greece. With over two-thirds of respondents reporting a “significant drop in revenues,” and 1 in 9 firms forced to suspend production due to shortages of raw materials (unable to buy due to capital controls), the…
The EUR/USD pair initially tried to rally during the course of the session on Monday, but as you can see pullback to form a bit of a shooting star. The shooting star at the bottom of the downtrend of course is a very negative sign. The 1.08 level is supportive, and if we can break…
Wanton destruction in the precious metals sector There is almost nothing in the markets to move instruments as far as economic announcements are concerned, so we believe that technical setups will be the only way to play markets during the session on Tuesday. Silver markets look interesting There was a massive move to the downside…
