Author Archive: Jeremy Parkinson
Weekly Unemployment Claims: Down 4K
Here is the opening statement from the Department of Labor: In the week ending March 10, the advance figure for seasonally adjusted initial claims was 226,000, a decrease of 4,000 from the previous week’s revised level. The previous week’s level was revised down by 1,000 from 231,000 to 230,000. The 4-week moving average was 221,500, […]
Downward Pressure Mounting
The main U.S. stock market indexes extended their Tuesday’s losses, as they closed 0.2-1.0% lower yesterday. The S&P 500 index lost 0.6% following Tuesday’s bounce off resistance level at 2,800. However, it remained at the support level of last Friday’s daily gap up. It currently trades 4.6% below January 26 record high of 2,872.87. The Dow Jones […]
Boeing, About To Bring Down The Dow If This Breaks
When it comes to high flying stocks in the Dow, Boeing is a top performer, as it is up tenfold since the 2009 lows. The trend in BA is up and nothing of late has changed that! The strong rally saw Boeing kissing the underside of 30-year resistance line (A) and 9-year rising channel (B) […]
Retail Sales Have Been Weak Lately, But The Trend Is Still Positive
Consumer spending has been soft in recent months, prompting some analysts to forecast trouble for the economy later this year. Perhaps, but looking through the monthly noise continues to paint an upbeat profile for retail sales. The growth rate has decelerated lately, but the year-over-year comparisons remain upbeat. The stakes are high, of course. Consumer […]
WTI Crude Oil And Natural Gas Forecast – Thursday, March 15
WTI Crude Oil The WTI Crude Oil market went back and forth during trading on Wednesday, as we continue to bounce from the uptrend line that you see on the chart. The market tends to be very sensitive to this area, and I think that the $60 level is now essentially the most important level […]
Alexion Jumps After Blood Disorder Drug Succeeds In Head-To-Head Trial
Shares of Alexion (ALXN ) jumped in pre-market trading after the company said its rare blood disorder drug was successful in a late-stage study. WHAT’S NEW: The drug, ALXN1210, was being tested against another drug, Soliris, in a Phase 3 study in patients with paroxysmal nocturnal hemoglobinuria, or PNH. ALXN1210 was shown to be non-inferior […]
The Impact Of Fed Rate Hikes On Core Fixed Income
While fixed income strategists have called for rising rates in nearly every year since the financial crisis, 2018 has marked one of the worst starts for bond investors since 1996.1 With 10-year rates up more than 45 basis points (bps), many investors are questioning what if any changes they should be making to their portfolios. Central to […]
Largest US Radio Company Files For Bankruptcy
On Thursday, iHeartMedia – the largest radio conglomerate in the US – finally succumbed to its enormous debt burden and filed for a long-anticipated Chapter 11 bankruptcy protection (iHeartMedia Inc., 18-31274, U.S. Bankruptcy Court, Southern District of Texas) after the company and a majority of its creditors reached an agreement for a pre-pack deal to […]
EUR/USD, GBP/USD Bounce At Previous Tops Within Wave 4 Patterns
GBP/USD 4 hour The GBP/USD made a break and pullback above the long-term resistance trend line (dotted red) and is now testing a lower time frame resistance level. The next break could be a bullish continuation within wave 5 (blue). Price will need to stay above the support trend lines (green) otherwise the uptrend is […]
Locating Distress In California’s Economy
California’s economy struggled in 2017, to the point where it was quite reasonable to ask if the state was experiencing a recession. In answering that question, we found that economic and employment data from multiple sources were consistent with recessionary conditions being present within the state, which is to say that some sectors of California’s economy were indeed […]
