Author Archive: Jeremy Parkinson
What Sell-Off: US Futures Rebound Sharply, Dow 26,000 Back On Deck
While global shares pulled back in early trading from record highs on Wednesday, U.S. equity index futures are staging another comeback and point to a higher open on Wednesday following a volatile day of trading Tuesday which saw the S&P 500 have its worst reversal in two years. Whether yesterday sharp drop in the S&P […]
EC U.S. Treasuries: Starting Off On The Wrong Foot
There is no doubt 2018 has gotten off to a far different start for the U.S. Treasury (UST) market as compared to the last few years. Indeed, from 2014 through 2017, the UST 10-Year note rallied in the first month or so in each year, but thus far in 2018, just the opposite has occurred. Remember, what happens in […]
USD/JPY Reaches -61.8% Fib Target And Reverses At 110
USD/JPY 4 hour The USD/JPY has reached the main -61.8% Fibonacci target and the round level of 110. Price bounced at that support and seems to be breaking through the resistance trend line (red). 1 hour The USD/JPY made one more lower low within the downtrend but now has made a bullish break above resistance […]
Yield Curve Flattens As 2-Year Treasury Rate Rises Above 2%
The 2-year Treasury yield is above 2% for the first time in nearly a decade. This rate, which is seen as a key proxy for monetary policy expectations, ticked up to 2.03% on Tuesday (Jan. 16), based on daily data via Treasury.gov. The increase, coupled with a fractional dip in the benchmark 10-year Treasury yield […]
‘Yesterday Was A Hell Of A Crazy Day’: Online Gold Sales Explode Amid Bitcoin Plunge
$250 billion. Or thereabouts. That’s how much was wiped off the total market cap of global cryptocurrencies from the time things started to go wrong on Monday to the lows on Tuesday: The dip-buyers showed up briefly on Tuesday evening following another bout of selling after the closing bell on Wall Street that left Ripple […]
WTI Crude Oil And Natural Gas Forecast – Wednesday, January 17
WTI Crude Oil The WTI Crude Oil market broke down significantly during the day, reaching towards the $63.50 level. There is a significant amount of structural importance to this level, so I think it’s only a matter of time before the buyers get involved. I would anticipate a rally from here will more than likely […]
Above The 40 – Overbought Conditions Abruptly End On A Reversal Day
AT40 = 64.0% of stocks are trading above their respective 40-day moving averages (DMAs) – ended a 1-day overbought periodAT200 = 62.7% of stocks are trading above their respective 200DMAsVIX = 11.7Short-term Trading Call: bullish Commentary It figures that just one day after the stock market finally crossed into overbought territory, it dropped right back out in dramatic fashion. […]
A Key Decision Awaits Bank Of Canada
Today, at 3PM GMT, the Bank of Canada will release its first interest rate decision of the year. To traders, investors, and Canadians, this decision will be vital. As you recall, before the financial crisis of 2008/09, the base interest rate in Canada was 4%. Within and after the crisis, the BoC started providing support […]
IBM Upgraded To Overweight From Underweight At Barclays
Barclays analyst Mark Moskowitz double upgraded IBM (IBM) to Overweight from Underweight and raised his price target for the shares to $192 from $133. The technology giant closed yesterday up 69c to $163.85. The company could be entering a period of top-line stability and maybe even modest growth over the next 12-18 months, Moskowitz tells […]
Dow 30 Index Hits 26,000 As U.S. Stocks Gain $7.8 Trillion In Value Since 2016 Election
TODAY’S NEW ALL-TIME HIGHS: the Dow 30 Index spiked above 26,000 briefly today (Tuesday), as shown on the following Monthly chart the S&P 500 Index spiked briefly above 2800, as shown on the following Monthly chart the Nasdaq Composite Index spiked briefly above 7300, as shown on the following Monthly chart …amid reports that measurements of the Wilshire 5000 Index indicate that U.S. stocksgained roughly $7.8 Trillion in value since the November 8, 2016 […]
