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Archives by Year:
“Will Chart For Booze” (And Advise About Google)
In Mountain View, just off the Shoreline exit and the Google campus, is a dive bar called the Sports Page. Now if you know anything about me, you understand that, first, I have absolutely no interest in sports, and second, I’m not the kind to hang out in dive bars. However, it just so happens […]
ECB Conference Did Not Bring Major News
Today’s ECB press conference did not bring major news. The Governing Council refrained from providing fresh monetary signals and from tweaking the language of its policy guidance concerning policy rates, QE and the reinvestment strategy. The only dovish change to the statement compared to the September one was the omission of the reference that “uncertainty […]
Did Today’s Market Bounce Negate Yesterday’s Breakdown?
Yesterday, I wrote a piece called “The #MAGA Stock Market Trendline Is Broken” in which I showed how the U.S. stock market’s sharp decline caused several major stock indices to break below their important uptrend lines that have formed in early-2016. I described this breakdown as a “very important change of trend”. I also explained that […]
Sector Watch: Whole Lot Of Damage But A Few Bright Spots
Technicals are pretty much a disaster for all the sectors. Except for Staples and Utilities, which are actually on the up and up, but that is to be expected when the street is looking for safe havens for its capital. The bulls have suffered for five weeks strong, and it is showing on the charts […]
Fake Boom No Match For The Calendar
The manufacturing renaissance at the base of this supposed US economic is disappearing. It is unsurprising, quite predictable actually. First, there was the cleanup from last year’s major storms and then frontrunning potential trade restrictions. Manufacturers domestically were gearing up for a whole host of non-economic reasons. If Keynes had ever been right about activity […]
AUD/USD Rate Holds Narrow Range Ahead Of U.S. GDP, Australia CPI
AUD/USD clings to the monthly range ahead of key data prints coming out of the U.S. and Australia, but the diverging paths for monetary policy continues to cast a long-term bearish outlook for the exchange rate as both price and the Relative Strength Index (RSI) preserve the bearish trends from earlier this year. AUD/USD RATE HOLDS […]
Durable Goods Mirage: Good Headline Number, Very Poor Details
Today’s headline durable goods number looks good. The details are another matter. The Census Bureau’s Durable Goods Report show orders rose 0.8%. The good news pretty much stops there. Low Lights Excluding transportation, new orders rose 0.1 percent. Excluding defense, new orders fell 0.6 percent. Core Capital Goods orders fell 0.1% Econoday Discussion A doubling in orders for […]
A Bearish EIA Print, A Revision, And Weather Craziness
Volatility continues in the natural gas market with prices bouncing all around within a rather narrow range through the day today. Prices initially saw strength again from strong physical prices, then quickly sold off but reversed on a bearish EIA print before declining post-settle on some bearish weather model guidance. Again gains were most significant […]
Stocks And Precious Metals Charts – FANGS Bite The Big One After Hours
The spokesmodels, cheerleaders, and stock pimps were all smiles today as the equity indices were bouncing back hard. But alas, after the bell both Amazon and Alphabet, the behemoth formerly known as Google, shit the bed on their financial results, and the futures headed south with a vengeance. Gold and silver were off a bit […]
