Author Archive: Jeremy Parkinson
AUDUSD Daily Analysis – Friday, Dec. 1
AUDUSD extended its downside movement from 0.7644 to as low as 0.7550. Deeper decline to test 0.7532 support is still possible. A breakdown below this level will indicate that the downtrend from 0.7897 has resumed, then next target would be at 0.7450 area. Near-term resistance is at the top of the price channel on the […]
Barclays Ups GM Price Target To $57 After Tech Day
Barclays analyst Brian Johnson raised his price target for General Motors (GM) to $57 from $55 following yesterday’s tech day. The automaker closed yesterday down 72c to $43.09. While some view GM’s target of commercially launching at scale autonomous ridesharing in dense urban environments in 2019 as an unrealistic target, similar to the timelines pushed […]
Stock Exchange: Is It Time To Be Contrarian?
This Week: Is It Time To Be Contrarian? So far, volatility has ticked up this week, and the stocks that had been performing best all year (e.g. momentum, technology, growth, FANG) are underperforming this week, thereby leaving some investors wondering if it’s time to get contrarian. Considering momentum and FANG-type stocks have been performing so […]
E USDCAD Trading Near 1.2916 Resistance Zone; A Drop Can Follow
USDCAD was on the rise for the last week or so, it moved nicely from 1.2660 towards 1.2900 where pair may find resistance. The reason is a three wave recovery from November low that can be wave B) as part of an Elliott wave flat correction. In flats wave B) will usually find a turn […]
Tax Bill Adds $1 Trillion To Deficit (Without Cutting Taxes For Most)
Nonpartisan analysis, from several places, shows the Senate tax bill will all $1 trillion to the deficit. What’s next? The stock market surged today on news that Senator John McCain would vote for the tax package. As it stands, however, the bill does not remotely come close to passing budget rules. Automatic tax hike triggers […]
Sensex, Nifty Trade Flat; Energy & Metal Stocks Top Losers
Indian share markets continue to trade flat with a negative bias during the morning trade. Sectoral indices are trading on a mixed note with FMCG sector and capital goods sector leading the gains. Metal stocks and energy stocks witness the majority of the selling pressure. The BSE Sensex is trading lower by 25 points and the NSE Nifty is trading lower by 9 points. The BSE Mid Cap index is […]
Brexit: Irish Border Is Far From A Done Deal – Will GBP Fall?
Optimistic reports on a deal around the thorny Irish border issue were probably premature. An agreement that has a lot of “creative ambiguity” in it worried the DUP party that holds the British government intact. They threatened to bring down the May government if the union is in danger. And now it seems that such an agreement […]
An Update On Polly: She May Be Coming Back To Life
A Twitch of a Toe In our recent update on credit spreads we proposed to use the seemingly deceased Monty Python parrot Polly as a stand-in for the suspicion of creditors in today’s markets.The question was whether Polly was indeed dead or merely in a deep coma. Depending on this, one should be able to gauge how powerful a […]
No Trigger: The Umpire Strikes Back
The Senate parliamentarian ruled the trigger to prevent a revenue shortfall as unacceptable, thereby temporarily stymieing the bill. This is just as well, as the trigger would have been procyclical, raising tax rates if the economy hit a recession. The current working concept — to reduce the tax reduction by $350 billion — makes a lot more […]
S&P 500 And Nasdaq 100 Forecast – Friday, Dec. 1
S&P 500 The S&P 500 rallied again during the trading session on Thursday, slicing through the 2650 level but pulling back towards the end of the day. Ultimately, this is a bullish market but we are a bit overbought it on the stochastic oscillator, so I suspect it’s likely to see selling pressure, but that […]
