Author Archive: Jeremy Parkinson
HH The Yuan-Oil Future And Gold
“There can be little doubt that the introduction of the yuan-denominated oil future has been a major strategic step for China” Trading in the new Shanghai oil future commenced last Monday, and on the first three days trading there were 151,804 contracts traded with a turnover value of 65bn yuan. It is the first futures […]
E Price Rules, Your Opinion Drools
I am amazed at all the punditry happening this month as the stock market does exactly what the stock market should do. That is, make as many people as uncomfortable as possible. That means all rules still apply. Sure, maybe some of them must adapt to a world full of derivatives and a zillion ways […]
The Bond Market Will Make The Fed Change Course
Craig Hemke joins me for another look at the bond market. We have been chatting a lot about the rollover in long-term yields but that is because it might be the telling sign of what is to come. With all the work of the Fed to try to raise the long end the last few […]
Tesla’s Worst Month
March was Tesla’s (TSLA) worst-performing month since its IPO in June 2010, as shown on the following monthly chart. The March candle closed just above a medium-term 50% Fibonacci retracement level and below a long-term -50% Andrew’s Pitchfork channel line. We may see price decline further to the bottom of the pitchfork where it converges with the 60% Fib level at 236.00. Inasmuch as the momentum […]
Bond Yields Crash, Is The S&P 500 Next?
If the 30yr interest rates continue to trade lower in the futures market, the yield curve will flatten because of the Federal Reserve raising of short-term interest rates. If the Fed continues to raise interest rates, and the /ZB continue to rally, the equity indicies will crash. Video Length: 00:03:05
And They Are Still Hoarding Silver
This year, up to now, JP Morgan has hoarded as many as 20.4 million ounces of silver in its COMEX warehouse: source: Simple Digressions Interestingly, the JPM warehouse has been reporting higher silver stocks since 2015 (no matter at what price the silver was trading). If they continue hoarding silver at the same pace as in […]
Stocks: The Short-Term Trend
I think we have a new short-term uptrend, although it seems fairly weak. The SPX equal-weight closed above the 5-day, and the number of new 52-week lows dropped way down into the harmless range. It is a qualified uptrend, though, because it is probably within a sideways range meaning that the uptrend will soon find […]
March 2018: ECRI’s WLI Growth Index Rate Again Insignificantly Slows
ECRI’s WLI Growth Index which forecasts economic growth six months forward remains in expansion. ECRI also released their coincident index this week. Analyst Opinion of the trends of the weekly leading indices This index is indicating modest growth six months from today. Here is this week’s update on ECRI’s Weekly Leading Index (note – a […]
The Pound Will Need Strong Data To Recover, Not Sure It Will Find It
The GBP/USD is trading around $1.4050, the lowest in a week amid US Dollar strength. UK GDP came out as expected and the better Current Account figure is not enough to cheer the Pound. The break below uptrend support is a bearish sign. The GBP/USD is trading some 0.20% down on the day around $1.4050. […]
Quarter Back: US Markets At Quarter’s End
It was only fitting that the quarter should close in dramatic fashion for U.S. equities – fortunately for anyone who was ready to leap off a bridge after this week’s FANG turmoil, Thursday’s drama was of the “green” variety. Stocks surged to close the holiday-shortened week, helped along by White House spokeswoman Lindsay Walters who insisted […]
