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USD/CAD Weekly Analysis – Tuesday, Oct. 30
USD/CAD stays above a rising trend line on the 4-hour chart and remains in the uptrend from 1.2782. As long as the price is above the trend line, the fall from 1.3159 could be treated as consolidation for the uptrend and further rise towards 1.3200 is still possible. Key support is at 1.2969, only a […]
Is China Cooling?
Xi Jinping, China’s president, speaks during day two of the Eastern Economic Forum in Vladivostok, Russia, on Wednesday, Sept. 12, 2018. The 4th annual Eastern Economic Forum, held in Vladivostok, will run from 11-13 September. Photographer: Andrey Rudakov/Bloomberg Chinese stocks have taken a hit in the past few weeks. The Shanghai Composite Index has tumbled […]
Are We Near The End Of A Correction Or Near The Start Of A Bear?
Everybody in the market is asking themselves this question. I don’t know the answer, but I know what the overwhelming weight of the technical evidence says at this point. The major averages have broken down below their 200 day moving averages and seem to have taken up residence there. That’s bad. Trump is bullheaded about […]
Gold Falls On Stronger Dollar, Profit Taking
Gold prices ended Monday’s session down $4.44 an ounce, weighed down by a strong dollar. The U.S. dollar index rose on reports that the United States is preparing tariffs on additional Chinese goods if talks between presidents Donald Trump and Xi Jinping fail to reconcile the ongoing trade dispute. Global stock markets were mixed yesterday, […]
Tanger Rated Underform By Wall Street
That real estate sector includes nine industries all related to real property ownership. The industries are: general real estate; Real estate services; and seven varieties of real estate investment trusts: diversified, healthcare facilities, hotel & motel, industrial, office, residential, and retail. Today I’m reviewing a mid-cap real estate investment trust – retail, named Tanger Factory […]
EUR/USD: Reversal Pattern Remains In Force As Merkel Announces End Of Political Career
Previous: On Monday the 29th of October, trading on the euro closed down. The price swayed in different directions against the background of statements by German Chancellor Angela Merkel and data from the US. Merkel has announced the end of her political career, stating that she will not see re-election in Germany’s next federal elections in […]
E S&P 500 Intra-Day View – Elliott Wave Analysis
We can see relatively slow moves in FX despite some volatile price action yesterday on US stocks. There was a new spike lower on S&P 500 futures, but JPY barely moved to the upside. In fact, it’s mostly trading lower since then as USD/JPY is trading towards 113.00 resistance. SP500 futures hit a new low […]
Inside The S&P 500 Correction
Since it peaked at an estimated $24.84 trillion on 20 September 2018, the S&P 500 (Index: SPX) has lost about $2.557 trillion in its total market capitalization through the close of trading on Monday, 29 October 2018, bringing its market cap down to $22.28 trillion, which is below the level where it closed 2017. Just five firms […]
Above The 40 – The Extended Oversold Period Finally Delivers A Bullish Divergence
AT40 = 11.9% of stocks are trading above their respective 40-day moving averages (DMAs) – (as high as 15.6%) 9th day of oversold period following 4-day oversold periodAT200 = 25.4% of stocks are trading above their respective 200DMAs (as high as 29.3%)VIX = 24.7 (as high as 27.9)Short-term Trading Call: bullish Commentary The trading day started off well […]
VIX And S&P 500 Diverge – Non-Commercials Actively Cover Net Shorts In VIX Futures
VIX continues to struggle to take out its high from 13 sessions ago, even as major equity indices dropped to fresh lows yesterday. Non-commercials in the meantime are actively covering their net shorts. At least near term, there is room for premium to come out of VIX. Equity bulls and bears are right in […]
