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Archives by Year:
Wall Street Attempts To Resume Record-Setting Rally
Stocks are slightly higher by midday Tuesday, as Wall Street attempts to resume its record-setting rally. For the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX), this run higher was cut short by back-to-back losses, though both benchmarks are notably higher this afternoon, while the Nasdaq Composite (IXIC) is on track for its […]
Softs Report – Tuesday, March 26
Photo by Marianne Krohn on Unsplash CottonGeneral Comments: Cotton was a little higher yesterday as ideas of weaker export demand went against improving ideas of demand potential from China. It is too early to plant in Texas but the heat and dry weather raises concerns about production potential later in the growing season and blackened […]
Cloud Stocks: Analysis Of Zscaler’s Avalor Acquisition
Image Source: Unsplash Cloud security provider Zscaler (Nasdaq: ZS) recently reported its quarterly performance that outpaced market expectations. The company is focusing on AI as its growth engine and recently announced an acquisition in the space as well. Zscaler’s FinancialsRevenues for the second quarter grew 35% to $525 million, ahead of the market’s forecast of $507.6 million. Non GAAP […]
Weakness In US Investment Keeps The Focus On The Consumer
Image Source: Pexels Durable goods orders are a good lead indicator for broader capex spending in the US. Unfortunately, ongoing weakness here suggests investment spending will remain a constraint on overall growth with the US’ 2024 economic prospects being determined by the consumer. Investment has lagged behind other parts of the economyThe US economy beat expectations […]
Analytical Overview Of The Main Currency Pairs – Tuesday, March 26
Image Source: Unsplash The EUR/USD currency pairTechnical indicators of the currency pair: Prev Open: 1.0807 Prev Close: 1.0836 % chg. over the last day: +0.27 % Weaker-than-expected US economic news on Monday pressured the US dollar after an unexpected decline in February’s new home sales. The weaker dollar on Monday caused some short covering in EUR/USD. However, the euro’s […]
Sensex Today Ends 361 Points Lower; Broader Markets Outperform
After opening the day marginally lower, Indian share markets continued the downtrend as the session progressed and ended the day lower.Equity markets were trading on a tepid note Tuesday amid a largely muted trend in Asia.At the closing bell, the BSE Sensex stood lower by 361 points (down 0.5%).Meanwhile, the NSE Nifty closed lower by 76 points (down 0.3%).Hindalco, […]
Gold: A Surge Into Summer?
More mainstream analysts are “tuning in” to gold by the day. They are noting the incredible resiliency of this mightiest of metals during the recent rate hiking frenzy.Is China “taking over” gold price discovery and if so… is the price headed significantly higher?Well, the commercial COMEX and LBA traders in the West have always keyed off […]
Ethereum: Bullish Test At 21-Day SMA
Ethereum (ETH) is currently trading around ~$3650, facing a test of its immediate resistance at the 21-day simple moving average (SMA) of ~$3679.If ETH can break above this level, it could potentially target $4000 key psychological level. Looking at the bigger picture, ETH sits above both the 50-day and 100-day SMAs, at ~$3254 and ~$2794 […]
Elliott Wave Technical Analysis: Johnson & Johnson – Tuesday, March 26
Image Source: Pexels JNJ Elliott Wave Analysis Trading Lounge Daily Chart,Johnson & Johnson, (JNJ) Daily ChartJNJ Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: Motive POSITION: Wave (3).DIRECTION: Upside in wave 3 of (3).DETAILS: Looking for a three wave move into wave (2) to be completed as we found support on Medium Level at 150$. We are still […]
Repeat Home Sales Price Declined Slightly In January
As I noted again yesterday, house prices lag home sales, which in turn lag mortgage rates. Yesterday we got the final February reading on sales. This morning we got the final January read on prices, for repeat sales of existing homes.Last week’s report on existing home sales showed a sharp increase in February, a repeat […]
