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Archives by Year:
EC JNJ Bulls Be Warned… An Elliot Wave Approach
One of our stocks in focus is JNJ US (Johnson & Johnson). Share price is testing important short-term support trend line. Breaking below $132.50 will be an important bearish signal. Price has entered the Ichimoku cloud and is in a neutral trend. Breaking below the trend line will increase the chances of breaking below the […]
Jackson Hole Starts Today, Fireworks Come Tomorrow For EUR/USD
Video length: 00:08:18 The US Dollar has done very little this week, with the DXY Index down barely -0.1% thus far on the week. FX markets continue to wait for perhaps the most important event over the past few months: the Federal Reserve’s Jackson Hole Economic Policy Symposium from Thursday to Saturday. Indeed, while this […]
Morning Call For Thursday, August 24
OVERNIGHT MARKETS AND NEWS Sep E-mini S&Ps (ESU17 +0.17%) this morning are up +0.07% and European stocks are up +0.45% before today’s start to the 3-day annual conference in Jackson Hole, Wyoming for global central bankers. Speeches from Fed Chair Yellen and ECB President Drahi will be parsed for any hints of when the central […]
Bulls Fading Into The Fall
Based on the latest weekly sentiment data from AAII, it appears that investors are growing increasingly concerned about the market as bullish sentiment declined from an already low 34.17% down to 28.1%. That’s the lowest weekly reading since June 1st, right before the volatility in the FANG stocks really got going and the largest weekly decline […]
USD/CAD: Could Make Another Brief Foray Below 1.25 But Unlikely Sustainable – CIBC
The Canadian dollar had a huge run, made a significant correction and now seems to lift its head once again. What’s next? Here is the view from CIBC: Here is their view, courtesy of eFXnews: CIBC FX Strategy Research argues that while USD/CAD could see another brief foray below 1.25, it’s unlikely to see a sustainable […]
E Canada Will Likely Lead The G7 Countries Growth This Year, But Post Slower Growth In 2018
“Projected global growth rates for 2017–18, though higher than the 3.2 percent estimated for 2016, are below pre-crisis averages, especially for most advanced economies and for commodity-exporting emerging and developing economies. Among the former, many face excess capacity as well as headwinds to potential growth from aging populations, weak investment, and slowly advancing productivity.” (IMF, […]
Business-Loan Growth Continues To Slide
Focusing on one data set is always hazardous for analyzing the business cycle, but the ongoing decline in commercial and industrial (C&I) lending is drawing a crowd. The trend is worrisome, but it’s premature to draw broader conclusions for the US economy because most key indicators are still positively skewed. Last month I noted that the year-over-year increase in […]
Sears Same-Store Sales Plunge 11.5%; To Close Another 28 Stores
Near insolvent retailer Sears Holdings reported another quarterly loss, with same store sales plunging in Q2 more than expected as the company offered more margin-crushing discounts amid an industry that is, in the words of Dick’s CEO, in “panic mode“. The company blamed a “retail environment that remained challenging, with continued softness in store traffic and […]
USDJPY Elliott Wave View: Resuming Lower
Short-term USDJPY Elliott wave view suggests the decline from 7/11 peak is unfolding as a double three Elliott wave structure. Decline to 108.71 low ended Minor wave W and Minor wave X bounce ended at 110.95 peak. Subdivision of Minor wave Y is unfolding as a Zigzag structure. Minute wave ((w)) of ((Y) ended at 108.59 low and Minute […]
USD/JPY And AUD/USD Forecast – Thursday, August 24
USD/JPY The US dollar had a slightly negative session on Wednesday, as we initially tried to rally but found the 110 level to be a bit too resistive. Falling back towards the bottom of the large consolidation area, I believe that the market will probably find buyers underneath. I also recognize that the speech by […]
