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Archives by Year:
Factory Orders Jump A Greater Than Expected 2.8 Percent
Factory orders from Commerce Department, chart by Mish.When I first looked at the factory order numbers this morning, some of them looked shocking. Durable goods jumped 4.6 percent and transportation orders rose 12.7 percent.The numbers were influenced by a whopping 92.5 percent jump in nondefense aircraft orders. It’s best to ignore aircraft and focus on […]
Wall Street Set To Extend Rally After Economic Updates
Wall Street’s rally is gaining even more momentum today, as Treasury yields dip following the Fed’s decision to leave interest rates unchanged, as well as a deluge of economic data. The Dow Jones Industrial Average (DJI) more than 380 points higher this afternoon and pacing for its fourth-straight win alongside the S&P 500 Index (SPX), while […]
Continuing Claims Keep On Rising
Following up on yesterday’s slowing ADP and JOLTS numbers, today’s release of weekly jobless claims likewise showed a cooling labor market. Initial claims were revised up by 2K last week to 212K, and this week’s number came in higher at 217K. That was 7K above expectations which would have assumed no change to claims. With […]
Silver Forecast: Sees Volatility As We Wait For The Fed
Despite the cautious atmosphere, precious metals have been on an impressive bullish streak recently. Silver faced some challenges during Wednesday’s trading session, exhibiting a degree of erratic behavior. Currently, the market appears to be in the process of constructing a bullish flag pattern, indicating a period of consolidation. Nevertheless, there were signs of a modest rebound in […]
Solana And Cardano: Solana Climbs To A New High At 46.97
Solana chart analysisThe price of Solana climbed to a new high yesterday at the 46.97 level. After that, we see a pullback to the 40.00 support level. We got support at that level, and we are starting a new bullish consolidation up to the 44.00 level. We are currently pausing a bit at that level […]
Crude Oil Forecast: Sees Support Just Below
It is essential to recognize that Brent is influenced by a similar set of factors as WTI, as both are intertwined with global issues that extend beyond the oil industry. In the early trading hours of Wednesday, the West Texas Intermediate (WTI) Crude Oil market experienced a slight rebound, engaging with the 200-Day Exponential Moving Average – […]
Chart Of The Day: Parsons – One Of The Best IT Stocks
The Chart of the Day belongs to the IT services company Parsons (PSN). I found the stock by using Barchart’s powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price […]
No More, Markets Said
S&P 500 moved up in two bursts – on underwhelming manufacturing PMI and on Powell. No more hikes – yields moved sharply lower on both short and long end, implying the end of the tightening campaign even if inflation is demonstrating sticky characteristics. Former leaders again kicked in on the rates relief – tech, communications […]
Asia Week Ahead: RBA Meeting And A Flurry Of Regional Growth And Inflation Reports
The Reserve Bank of Australia will likely hike rates next week, while third-quarter GDP reports could show economies slowing across the region.Unsplash Reserve Bank of Australia likely to hike ratesInflation has been drifting higher over the last two months, and although this is partly due to less favorable base effects, the monthly run rates for August and […]
USD/ILS: Risk Sentiment And Healthy Forex Correlations Seen
After touching a high of nearly 4.08550 last Friday the USD/ILS has incrementally lowered in value. Adverse risk sentiment certainly played a role in the climb of the USD/ILS in the wake of the war starting between Israel and Hamas on October 7. Monday’s high for the USD/ILS on October 9, was near the 3.98120 ratio […]
