The Modern Family was seen shopping last week. No, not for new clothes, or fancy vacations. And not for a brand new car or bigger home. Rather, Granddad Russell 2000, Granny Brick and Mortar Retail, Transportation, Sister Semiconductors, Prodigal Son Regional Banks, and Big Brother Biotechnology, decided it was time to prepare for the worst. With…
The investment meme of a synchronized global upturn has been undermined by the recent string of US and European economic data. The flash March eurozone composite reading fell to 55.3, the lowest reading since January 2017. Although Q4 17 US GDP may be revised higher (toward 2.8% from 2.5%) mostly due to greater inventory accumulation, the…
President Trump no longer tweets regularly about new record highs for US financial markets. The tweets were a core activity in the first year of his Presidency, when he was still feeling his way into the job. But now, as last week’s sackings of his Secretary of State and National Security Advisor confirm, his focus has returned to the promises made…
Over the last few weeks, I have been tracking the markets’ ongoing consolidation process. As I noted on Tuesday: “The breakdown on Monday has not yet completely broken the ‘bullish case’ for the market yet, however, a failed rally from current levels will bring “Option 3” into focus. With the recent failure at the previous resistance level, we can…
The US dollar rocked and rolled on the Fed’s dovish hike and the renewed fears of a trade war. Politics will continue moving currencies and we also have final US, UK, and Canadian GDP as well as other figures ahead of Easter. Here are the highlights for the upcoming week. The Fed raised rates as…
CLICK ON CHART TO ENLARGE The 2-pack above looks at the KBW Bank Index on a long and short-term basis. The chart on the left looks at the index on a monthly basis over the past 12-years. The rally over the past couple of years brought banks back to where they peaked in 2007 at (1)….
The signal that Facebook (FB) was in trouble was when it broke down below its previous cycle low. The stock then rallied and last week it figuratively “faceplanted,” losing 13%. FB will continue to face risk through the declining phase of its current market cycle. Running length 00:04:14
AUDUSD stays below a bearish trend line on its daily chart and remains in the downtrend from 0.8135. As long as the price is below the trend line, the downside movement could be expected to continue and next target would be at 0.7500 area. Only a clear break above the trend line resistance could signal…
Japanese crypto regulators sent crypto prices spiraling lower earlier this month when they announced a heavy-handed crackdown on seven local cryptocurrency exchanges (and ordered month-long suspensions for two more). As CoinTelegraph reports, the Japanese Financial Services Agency (FSA) has sent “punishment notices” to seven crypto exchanges and temporarily halted the activities of two more after…
“Seasonally, on average, the index highs have come between mid April and early May during the 2nd year of the Presidential Cycle. It seems unlikely we will see new index highs in the next month, but a significant rally is possible.” Mike Burk, March 24, 2018 The market has punished us this week for being…
