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                        USD/CAD Trading In An Uptrend

E USD/CAD Trading In An Uptrend

USD/CAD may be trading in a correction of a higher degree, now in wave 4, that may ideally unfold as a simple three wave correction. That said current spike can be sub-wave b of 4, that may see limited upside a little above the wave 3 high. Afterward, a new drop into sub-wave c may […]
Wells Fargo Expands Class-Action Settlement For Retail Sales Practices To $142M

Wells Fargo Expands Class-Action Settlement For Retail Sales Practices To $142M

Wells Fargo & Company (WFC) announced the expansion of its class-action settlement for retail sales practices to include any customers who were impacted by sales practice issues as early as May 2002. The updated settlement will add $32M to the previous agreement for a total settlement amount of $142M. “The expansion of this agreement is […]
One Trader’s Plan To Not Let The French Election Ruin His Weekend

One Trader’s Plan To Not Let The French Election Ruin His Weekend

It’s another one of ‘those’ weekends again, but as Bloomberg’s Mark Cudmore notes, anecdotally, FX traders are significantly less excited by the French presidential election than the commentariat (may exacerbate the reaction to any surprise, though it doesn’t increase its likelihood). With options activity at record highs, what should be the game plan for the weekend if […]
Honeywell Boosts Low End Guidance As Q1 Results Top Expectations

Honeywell Boosts Low End Guidance As Q1 Results Top Expectations

Honeywell International Inc. (NYSE: HON ) early Friday posted market-beating first quarter profits and revenue, and slightly lifted the low end of its full-year outlook amid solid revenue growth in most of its segments.
Chart Of The Day – No Such Thing As A Quadruple Top

Chart Of The Day – No Such Thing As A Quadruple Top

When a resistance zone gets tested multiple times it usually breaks. It shouldn’t be long before the Nasdaq breaks through this resistance. After it does it will pull the rest of the market up with it.  
Banks At Risk If This Support Gives Ways, Says Joe Friday

Banks At Risk If This Support Gives Ways, Says Joe Friday

Regional and Large banks have done well since the election. Of late they have lagged the broad market and find themselves testing what could be very important support levels. Below looks at regional bank ETF (KRE).   KRE has experienced a rally that started in February of 2016. This rally picked up speed following the election […]
U.S. Stock Market And Gold, Post Tomahawks And MOAB

U.S. Stock Market And Gold, Post Tomahawks And MOAB

It happens when inflammatory events (usually political, terror or war related, but also including things like Ebola, Bird Flu and the like) crop up; stocks go down and hysteria starts to build.  The mainstream media jump aboard and next thing you know you’ve got people heading for the exits… right into the next bottom.  In […]
EUR/USD Turns Bearish After Hitting 61.8% Fibonacci Target At 1.0775

EUR/USD Turns Bearish After Hitting 61.8% Fibonacci Target At 1.0775

EUR/USD 4 hour   In yesterday’s trading, the EUR/USD broke above the 50% Fibonacci retracement level of wave 2 (brown) and continued with a bullish push towards the 61.8% Fib at 1.0775. Price stopped at this Fib level and made a bearish retracement, which is now testing the support trend line (blue) – see 1 […]
Rail Week Ending 15 April 2017: Economically Intuitive Sectors’ Decline Continue

Rail Week Ending 15 April 2017: Economically Intuitive Sectors’ Decline Continue

Week 15 of 2017 shows same week total rail traffic (from same week one year ago) improved according to the Association of American Railroads (AAR) traffic data. The economically intuitive sectors declined. Analyst Opinion of the Rail Data Note that this week included a holiday whilst the comparable week in 2016 did not. This makes this weeks analysis slightly […]
Schlumberger Limited Q1 Profit Beats, But Revenue Misses As Int’l Drags

Schlumberger Limited Q1 Profit Beats, But Revenue Misses As Int’l Drags

Schlumberger Limited (NYSE: SLB) early Friday posted mixed first quarter earnings results, as the oil & gas industry continues its slow recovery from its biggest decline in history.