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Archives by Year:
Job Quits Drop Again, Well Below Pre-Covid Levels
Image Source: UnsplashJob quits continue to plunge in nearly all job sectors.Data from the BLS, chart by MIshJob Openings and Labor Turnover JOLTSThe Job Openings and Labor Turnover Summary for August shows some sobering trends. At the March 2022 peak, there were 12,182,000 job openings vs an unemployment level of 5,993,000. There were more than two openings per […]
Gold Prices Soar On Safe-Haven Demand Amid Middle East Conflict
Image Source: Pixabay Gold rises over 1% after Iran launched missiles at Israel, intensifying Middle East conflict. Market focus shifts from strong US jobs data to geopolitical uncertainty, driving risk aversion and boosting safe-haven demand for Gold. A daily close below $2,665 could trigger a pullback, but ongoing tensions keep bullish momentum alive for new record […]
Bearish For The Short Term
SPX Monitoring purposes;Sold long 9/13/24 at 5626.02= gain 2.23%; Long SPX on 9/5/24 at 5503.41.Sold SPX on 8/19/24 at 5608.25 = Gain 8.14%gain; Long SPX on 8/5/24 at 5186.33.Our Gain 1/1/23 to 12/31/23 SPX= 28.12%; SPX gain 23.38%Monitoring purposes GOLD:Long GDX on 10/9/20 at 40.78. We are up over 28% this year so far; SPX […]
WTI Extends Gains After API Reports Another Crude Inventory Draw
Image Source: Unsplash Oil prices surged today as the record spec shorts suddenly realized that the Middle East is shitshow of geopolitical bomb fuses just ready to be lit. WTI spiked dramatically up near $72 on the Iranian missile attack in Israel before fading back a little “Iran sits astride the world’s most strategic energy region, […]
Turnaround Tuesday – Rocking October Volatility
Nice timely call on Occidental Petroleum from last night’s Daily?So, let’s move on to volatility as we start October or Rocktober.And things are certainly rocking, making me feel all late 1970s all over again.Eerily the port strike last happened in 1977.Today is President Carter’s 100th birthday.The Middle East is unstable and WTI oil is back […]
Stocks And Precious Metals Charts – Back Into Reality
The long awaited invasion of Lebanon by the Israeli army shook the markets back into reality.What a surprise.The usual safe harbors saw activity as gold, silver, and the Dollar all rallied.Risk assets like stocks slumped.Have a pleasant evening. More By This Author:Stocks And Precious Metals Charts – Reckless Arrogance, Shameless Greed Stocks And Precious Metals […]
Geopolitical Tensions Rise As Stocks Teeter Near Highs
Image Source: Unsplash A category 4-equivalent typhoon is barreling toward some of Taiwan’s most important semiconductor factories… Ground war is spreading in the Middle East… Some of the biggest, busiest ports in the United States are frozen by strikes…The cherry on top: Fed Chairman Jerome Powell sounded ever-so-slightly hawkish when he said the Fed was in […]
Disinformation Risk Threatening The Global Economy
Image Source: Pixabay As China is fueling global growth prospects, the real risk haunting the international economy is protectionism, sanctions and geopolitics – increasingly disguised by disinformation in the West.The ongoing year marks the 75th anniversary of the founding of the People’s Republic of China. On September 21, 1949 Mao Zedong announced to the nation that […]
Fortinet Inc. Elliott Wave Technical Analysis
FTNT Elliott Wave Analysis Trading Lounge Daily Chart,Fortinet Inc., (FTNT) Daily ChartFTNT Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave 3DIRECTION: Upside in wave 3.DETAILS: Looking for a bottom in place in Minor wave 2 as we are moving higher in what should be minor wave 3 of (3), which should then provide us with a steep angle […]
Rates Spark: Geopolitics Are Only Part Of The Mix
Middle East escalation acted to push bond yields lower. But also in the mix is the ongoing reassessment of the ECB amid a gloomier outlook for the eurozone – the pricing of a 1.75% terminal rate shows recessionary vibes. The reaction of usual safe-haven indicators was more muted. Treasuries are still laser focused on Friday’s payrolls report.Image source: Pixabay Lots of […]
