Bitcoin ripped higher by 14% on Thursday, rising near the $8,000 level before pulling back to the $7,600 level. Mainstream outlets are pointing to the end of tax season – during which time some crypto holders had to sell their crypto in order to pay capital gains taxes to the IRS – as a possible catalyst, and that…
The so-called FANG stocks, which have powered the U.S. stock market rally in the ongoing Trump era, lost their sheen last month amid the worst tech rout. Notably, the NYSE FANG index, which tracks the 10 biggest and most-active tech stocks in the world, slipped into deep correction territory (down more than 10% from its…
ECRI’s WLI Growth Index which forecasts economic growth six months forward remains in expansion. Analyst Opinion of the trends of the weekly leading indices Even with the continuing decline in this index, the forecast is for modest growth six months from today. Here is this week’s update on ECRI’s Weekly Leading Index (note – a…
You can only push countries so far before they decide to push back. Russia may do just that. Please consider Russia Threatens to Cut Off Crucial Titanium Exports to Boeing. Russian lawmakers have submitted a wide-ranging bill that could freeze crucial exports to the United States. The bill, which was drafted by leading lawmakers at the…
Everyone is hotly debating the charts formed by this year’s action. Is it a descending triangle with bearish implications? Or judging purely by the numbers, is it just one of those periodic cycles from low volatility to high, including a quick 10% correction. Remember, everyone was losing their stuff over the fact that the market…
Just over 3 months ago, AG Jeff Sessions dropped a bongshell on the marijuana market when he rescinded policies allowing states to legalize pot. But now, following Sen. Cory Gardner’s, the Colorado Republican, threat to block all DOJ nominations, The Washington Post reports that President Trump has defused the standoff and promised the top Senate Republican that he will support congressional…
Amid an expected weakness in investment banking, strong trading results, higher rates and lower tax rate drove JPMorgan’s (JPM – Free Report) first-quarter 2018 earnings of $2.37 per share, which handily outpaced the Zacks Consensus Estimate of $2.28. The reported figure was up 44% from the prior-year quarter. Results in the reported quarter included 11 cents per share…
The market wants to rally short-term, but it just can’t find the buyers. An uptrend has to have a number of new 52-week highs, and there are very few at the moment. Side Notes: VIX Squared has reported on Twitter that bullish sentiment is now down to a level that favors stock prices from a contrarian point-of-view….
Bulls on Parade (Don’t Get Trampled) For the first time in weeks, we’ve seen some clear, positive upwards momentum for the coin-wide market. Cryptocurrency’s comprehensive market cap is up 23% at $326bln, up from $248bln last Friday morning. But there’s one caveat: most of this growth has come in the last 36hrs. Leading price movements as usual,…
