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Asia Morning Bites For Thursday, November 9
Image Source: PixabayGlobal macro and markets: Global markets: 10Y US Treasuries eased below the 4.5% level yesterday (falling by a little over 7bp), which our rates strategists have regarded as a key level to a renewed push higher for yields ahead of next week’s CPI release (see here for some discussion prior to last night’s price action). […]
A One-Two Warning
Image Source: PexelsThe collapse of Upstart Holdings (UPST) is an interesting example of a two-chart phenomenon. First, there is the gargantuan and well-formed head and shoulders top, highlighted in yellow. Second, following the plunge after the top was formed, was the powerful retracement up to the neckline (whose peak is marked with the arrow). This was […]
Alternative Estimates Of Chinese Q3 GDP Growth
Image Source: PexelsThe Fernald-Hsu-Spiegel China Cyclical Activity Tracker (CCAT) indicates Q3 growth 0.26 standard deviation below trend.Figure 1: GDP y/y growth in standard deviations below trend (blue), CCAT (tan), Li Keqiang index (green), imports (red). Source: Fernald-Hsu-Spiegel China Cyclical Activity Tracker (CCAT), accessed 11/8/2023.Detrended GDP growth is approximately 2.4%, so a below trend reading of 0.26 is 0.62%; since estimated […]
Current Analysis: Spark New Zealand
Image Source: PixabaySpark New Zealand Ltd (SPKKY) is one of only three big integrated telecommunications groups in New Zealand. It is the dominant provider of fixed-line services in the country and is effectively an equal-number-one player in the mobile telephone market.It also has a commanding presence in New Zealand corporate and wholesale telecommunications services. Spark’s operations […]
Juniors Struggling & GDX/GDXJ Downside
Image Source: PixabayJordan Roy-Byrne, Founder and Editor of The Daily Gold joins us to discuss the outlook for gold and silver stocks, by sharing potential lower levels for GDX and GDXJ. We dive into how he is viewing smaller-scale production companies, development companies, and junior exploration stocks. Jordan outlines why you need to be very careful […]
This Range Reversal Could Be Our Biggest Win Of The Week
Image Source: UnsplashAmazing day today – let’s do it again!Markets are bullish into the close, but there’s ONE BIG CLUE telling us this Range Reversal might be our easiest win of the week!Emini and Nasdaq finally gave us that deep pullback we’d been waiting for, but they failed to finish the job!Now with momentum shifting for […]
The Commodities Feed: Brent Settles Below $80
Image Source: UnsplashEnergy – Brent below $80/bblThe downward pressure in oil continued with ICE Brent settling more than 2.5% lower, leaving it below US$80/bbl. This is the first time since July that Brent has settled below this level. A lot of support has evaporated after the market broke below the 200-day moving average earlier this week. […]
LLY Stock Jumps After FDA Approves Eli Lilly’s Tirzepatide Drug For Weight Loss
Image Source: Unsplash LLY stock is rising following FDA approval of Eli Lilly’s tirzepatide drug for weight loss. FDA’s approval expands tirzepatide use from diabetes to chronic weight management. The approval creates competition in the obesity drug market. Eli Lilly And Co’s (LLY) stock saw a notable surge, trading at $610.50, up 1.69% (+$10.14) today, following the Food […]
A Different Kind Of Gap
Image Source: UnsplashYesterday, I bought puts in the clothing manufacturer/retailer Gap (GPS). I based the trade on the resistance line I’ve drawn below, and it was made easier by the surprising fact that this seller-of-jeans-and-t-shirts has a P/E of almost 50!More By This Author:What The Fed Is Watching? Color Me Dumbstruck By XerxesLooking Back At FTX […]
Oil Markets: I Dare You To Cut More Mode
Image Source: PixabayUS crude oil prices have dropped to their lowest levels since late July. This is due to concerns about an unusually high build-up in commercial crude oil inventories. Additionally, fuel demand has been lagging behind its seasonal average, which has raised concerns about demand destruction.According to the American Petroleum Institute’s data, US crude oil […]
