Author Archive: Jeremy Parkinson
Crude Oil (CL_F) Elliott Wave View: Calling More Strength
CL_F Elliott Wave short-term view suggests that the decline to 61.80 on 4/06/2018 low ended Intermediate wave (2). Above from there, Intermediate wave (3) remains in progress as Zigzag Elliott Wave structure. Looking to extend higher towards 70.43-72.47 area at a minimum. Up from 61.80 low, the instrument made a strong rally higher. And ended […]
Trump’s Important Decision Nobody Talks About
Trump arouses enormous emotions. His policies are usually widely debated. However, the recent decision passed relatively unnoticed. Bad! It’s really strange given its potential impact on the financial markets, including precious metals. So, what new is coming from Washington? Richard Clarida, The New Vice Chair On Monday, President Trump announced that he would nominate Richard […]
Declining Downtrend Remains In Focus
My Swing Trading Approach I am not opposed to adding more trades to the portfolio today, but the market needs to be favorable for it to happen. We could see a pullback, and I don’t want to buy ahead of that, even if it is likely to be just temporary. Indicators VIX – Volatility bounced some […]
EC Why Oil Prices Can’t Rise Very High, For Very Long
Oil prices are now as high as they have been for three years. At this writing, Brent is $74.14 per barrel and West Texas Intermediate is at $68.76. These prices aren’t really very high, if a person looks at the situation from a longer term point of view than the last three years. There is […]
Jobless Claims Little Changed
Jobless claims dropped a “whopping” 1K in the latest week and missed expectations by a margin of just 2K. In other words, little changed in the overall trend of claims. For the week, first-time claims came in at 232K. This is the 28th straight week that claims have been at or below 250K, and extends […]
Bull Of The Day: Western Digital (WDC)
Headquartered in Irvine, CA, Western Digital Corporation (WDC – Free Report) is a leading provider of storage technologies and solutions. They are one of the largest hard disk drive (HDD) producers in the US. They design, develop, manufacture and market a broad range of HDDs, which are used in numerous consumer electronic devices. With the acquisition of SanDisk, the […]
EUR/JPY: Strengthens But With Caution
EUR/JPY pair looks to consolidate further though seen strengthening on Thursday. On the downside, support comes in at the 132.50 level where a break if seen will aim at the 132.00 level. A cut through here will turn focus to the 131.50 level and possibly lower towards the 131.00 level. On the upside, resistance resides […]
Taxes: Bring Us Back To 1913; Or Better Yet, Bring Us Back To 1912
We are quickly approaching the deadline for filing (and paying) our federal and state income taxes (extended to Tuesday, April 17 this year because April 15 falls on a Sunday and Monday is Emancipation Day), and that means it’s time for my annual post at tax time to help put things in perspective. 1. Some […]
Silver-Gold Ratio… Set To “Spring” Precious Metals Higher?
Metal heads have been very patient in 2018 as Gold continues to press up against breakout resistance. One thing that has been missing is Silver strength… but yesterday’s big move by Silver may be the lift that precious metals need. During bull markets for precious metals, silver tends to lead. Similar to small caps, it adds […]
E The Canadian Economy Still Needs Lots Of Monetary Support
In a very forthright press conference, Stephen Poloz, the Governor of the Bank of Canada, explained why rates must remain low, despite the evidence of an improved economic situation. Simply put, although the Bank has succeeded in getting the economy near full capacity utilization and inflation near the 2 per cent target, “the economy is […]
