September 2024 -

Nasdaq 100 & S&P 500 Elliott Wave Update – Monday, Sept 30

Sep 30, 2024 Jeremy Parkinson Finance, No picture 0

Image Source: UnsplashI believe it will take additional time before we know and can chart the outcome from today’s end of quarter expirations and rolls. JPM completed rolling the larger “collar” out to the December 31st expiration. So, far, it appears that the action itself released some volatility and a lot of gamma with the market […]

BCYC: A Promising Play In The Biotech Sector

Sep 30, 2024 Jeremy Parkinson Finance, No picture 0

Image Source: PexelsThe long-awaited and overdue half-point cut in the federal funds rate was the impetus for the SPDR Biotech ETF (XBI) to finally break above the 102-103 level after three or four attempts. Meanwhile, Bicycle Therapeutics Plc (BCYC) had a strong ESMO following promising new data for BT8009, BT5528, and BT7480.Rising interest rates hurt biotechs – and vice versa […]

The Canadian Cannabis Report- Monday, Sept. 30

Sep 30, 2024 Jeremy Parkinson Finance, No picture 0

Image Source: PixabayFor the trading week ended September 27, 2024, my proprietary Canadian Cannabis Company Index MCCCI increased by 1.1%. The index consists of 14 stocks, many of which are among the most widely held holdings of the 3 ETFs (MJ, CNBS, and THCX) that I consider to be a reliable barometer of the Canadian cannabis […]

Inflation Progress & Labor Market Cooling: The Fed’s Rate Cut Thinking

Sep 30, 2024 Jeremy Parkinson Finance 0

Image source: WikipediaThe Federal Reserve made a relatively large reduction in short-term interest rates at its September 2024 meeting. They were not, though, in a panic or worried about an imminent recession. Instead, they were thinking that the old interest rate would not be appropriate going forward. That’s a very sensible position.The phrasing of Jerome Powell’s statement […]

BlackRock sees potential in spot Ethereum ETF, despite slower uptake compared to Bitcoin

Sep 30, 2024 Jeremy Parkinson Cryptocurrency, No picture 0

Key Takeaways ETHA reached $1 billion in AUM but has not seen explosive growth compared to IBIT. BlackRock’s Bitcoin ETF quickly reached $2 billion in AUM, outpacing ETHA. Share this article BlackRock’s spot Ethereum ETF, also known as ETHA, has seen slower growth than its Bitcoin counterpart but Robert Mitchnick, the company’s head of digital […]

5 Best Leveraged ETFs Of The Third Quarter

Sep 30, 2024 Jeremy Parkinson Finance 0

Image Source: PixabayThe third quarter of 2024 was extremely volatile for the U.S. stock market. While recession fears, geopolitical tensions, fading AI craze and uncertainty surrounding the elections kept investors on edge, rate-cut optimism buoyed the stock market during the quarter. Investors shunned technology stocks in favor of smaller companies and other sectors, which are bigger […]

Iron Ore Price Forecast: Rally Could Be Short Lived

Sep 30, 2024 Jeremy Parkinson Finance 0

Image Source: Pixabay Chinese cities have followed in the footsteps of Beijing by easing various home-buying restrictions. Investors are optimistic over the demand for the major steel component. Shares of various key iron ore producers globally rose to multi-month highs. Iron ore prices jumped on Monday as major cities in China followed the federal government’s footsteps. […]

Gasoline And Oil Prices

Sep 30, 2024 Jeremy Parkinson Finance, No picture 0

Image Source: PexelsWe have weekly gasoline prices through week ending 9/30:What’s in store for the future? Oil futures and gasoline futures (RBOB) are in backwardation.More By This Author:Consumer Sentiment And Expectations (Rev’d) In SeptemberMisery Index, 2020M12 And 2024M08: 8.0% Vs. 6.8%Business Cycle Indicators – August 2024 And Annual Updates

A Bull Market Break

Sep 30, 2024 Jeremy Parkinson Finance 0

Image Source: PixabayGold looks like it’s correcting right now, although the longer-term prospects look better than ever. In fact, it seems that the entire financial universe is aligning in favor of gold.Gold’s lost about $40 over the past couple of sessions, after setting yet another all-time high and threatening to close above $2,700 on a spot basis.Frankly, […]

So Long As The Economy Holds Up, Disinflationary Rate Cuts Are Rocket Fuel For Equities

Sep 30, 2024 Jeremy Parkinson Finance, No picture 0

Image Source: PexelsDespite a midday wobble following a slightly less dovish Chair Powell—who seemed to throw cold water on hopes for a 50-bps cut in November—the S&P 500 dusted itself off and sprinted within a whisker of record highs, capping off yet another high-octane quarter for U.S. stocks. So, what’s the magic formula? Simple: As long […]