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Archives by Year:
US Dollar Hampered By Downswing In Q1 Growth Expectations
The US Dollar (via DXY Index) has had a docile week thus far, with each of the past two days of price action constrained by the high/low range established on Tuesday. Despite rates market pricing in a 100% chance of a 25-bps rate hike by the Federal Reserve next week, a disappointing reaction to the February CPI […]
Tis The Season To Go Long Petro
Tis the season to get long oil as the five years upward price trajectory between mid-March and April has been solid for at least the last five years. For oil bulls, this is the most wonderful time of the year. This comes as the Energy Information Administration shocked markets with big product draws as bears […]
March 2018 Empire State Manufacturing Index Improves
The Empire State Manufacturing Survey improved and remains in expansion. It was well above expectations. Analyst Opinion of Empire State Manufacturing Survey I am not a fan of surveys – and this survey jumps around erratically – but has been relatively steady for the last year. Key internals in the report marginally improved so I […]
Testing Financial Cycle Mania
Over the last year, cryptocurrencies became an icon for the speculative fervor that has increasingly driven the 2009-18 financial cycle. Leading the sector, bitcoin rose from $1200 last March, to $19,187 by December and back to $8140 this morning. Between rampant fraud, stolen coins, regulatory crackdown, outright bans and liquidation selling, cryptos can’t seem to […]
Weekly Unemployment Claims: Down 4K
Here is the opening statement from the Department of Labor: In the week ending March 10, the advance figure for seasonally adjusted initial claims was 226,000, a decrease of 4,000 from the previous week’s revised level. The previous week’s level was revised down by 1,000 from 231,000 to 230,000. The 4-week moving average was 221,500, […]
Downward Pressure Mounting
The main U.S. stock market indexes extended their Tuesday’s losses, as they closed 0.2-1.0% lower yesterday. The S&P 500 index lost 0.6% following Tuesday’s bounce off resistance level at 2,800. However, it remained at the support level of last Friday’s daily gap up. It currently trades 4.6% below January 26 record high of 2,872.87. The Dow Jones […]
Boeing, About To Bring Down The Dow If This Breaks
When it comes to high flying stocks in the Dow, Boeing is a top performer, as it is up tenfold since the 2009 lows. The trend in BA is up and nothing of late has changed that! The strong rally saw Boeing kissing the underside of 30-year resistance line (A) and 9-year rising channel (B) […]
Retail Sales Have Been Weak Lately, But The Trend Is Still Positive
Consumer spending has been soft in recent months, prompting some analysts to forecast trouble for the economy later this year. Perhaps, but looking through the monthly noise continues to paint an upbeat profile for retail sales. The growth rate has decelerated lately, but the year-over-year comparisons remain upbeat. The stakes are high, of course. Consumer […]
WTI Crude Oil And Natural Gas Forecast – Thursday, March 15
WTI Crude Oil The WTI Crude Oil market went back and forth during trading on Wednesday, as we continue to bounce from the uptrend line that you see on the chart. The market tends to be very sensitive to this area, and I think that the $60 level is now essentially the most important level […]
Alexion Jumps After Blood Disorder Drug Succeeds In Head-To-Head Trial
Shares of Alexion (ALXN ) jumped in pre-market trading after the company said its rare blood disorder drug was successful in a late-stage study. WHAT’S NEW: The drug, ALXN1210, was being tested against another drug, Soliris, in a Phase 3 study in patients with paroxysmal nocturnal hemoglobinuria, or PNH. ALXN1210 was shown to be non-inferior […]
