Author Archive: Jeremy Parkinson
US Dollar Price Action In The Spotlight As Jackson Hole Begins
Talking Points: The Jackson Hole Economic Symposium is now underway and there have been multiple Central Banker interviews already on financial television. Today is marked by a series of speeches and interviews and this produces a backdrop that could bring continued volatility throughout the day. Potentially complicating matters for short-term traders is the fact that […]
Longest Bull Market Breaks Out To New High
This is now the longest bull market in history and it just broke out to a new high record high. The major indices broke out of a long 6-month trading range and hit fresh record highs after the Federal Reserve made it clear it will do whatever it takes to fight inflation. Stepping back, […]
E Turkey’s Financial Problems Are Starting To Resemble The Greek Crisis Of 2010
“Some market pundits continue to claim that developments in Turkey will remain contained to that country. We heard similar comments just before the Greek crisis. Yet, it is worth noting that foreign banks’ exposure to Turkey ($260 billion) is just as large as in Greece circa 2008…. Canadian banks, unlike their European counterparts, have very […]
US Economic Data ‘Death Cross’?
Remember ‘global synchronous recovery’? That is over… For the first time since early 2015, US economic data is trending dramatically more disappointing than that of Europe. In fact, as the ‘global synchronous recovery’ evaporates, the US and European economic data has not been so completely decoupled in years… but don’t forget, this is the greatest economy in the world. […]
Gold COT Update: Big Specs Increase Shorts
Commercial gold traders are still short, but barely. I like the format of CotPriceCharts but there is a delay in updating the charts for some reason. I highlighted the changes as noted by the current US Commodity Commitment of Traders Report. Not all of the reports are in a single link. Commercial traders (miners forward selling gold plus […]
Energy’s Bounce Foretold
What a difference a week can make. In our Chart of the Day on August 15th, we noted that extreme oversold conditions (over 3 standard deviations below the 50 day moving averages) in the Energy sector had historically been a bullish signal in the near-term. Below we include the key data from that note. As shown in […]
Market Talk – Friday, August 24
No conclusion, as the US/China trade talks finish, a new PM in Australia, unchanged +0.7% release for Japanese inflation and a rally in oil and gold as the USD turned. All this ahead of Jerome Powell’s Jackson Hole speech and still no volatility. This all goes to show that traditional summer months are difficult to […]
