Author Archive: Jeremy Parkinson
Bullish Breakout In Three ETFs (IWF, IYR, XLK)
Diamond Bottom in IYR US Wedge breakout in XLK US Wedge breakout in IWF US My preferred strategy is to buy small size and add on a pull back orback test of the broken wedge pattern. Stop the recent lows. Target in all three cases is new highs.
US Reports Biggest Ever Trade Deficit Ex. Petroleum
With so much attention focused on trade data in recent weeks, Trump will hardly be happy to learn that not only did the US trade deficit grow by 1.6% in February from $56.7BN to $57.6BN, missing expectations of a $56.8BN print, but was the highest monthly trade deficit going back ten years to 2008. According […]
Weekly Unemployment Claims: Jump Of 24K
Here is the opening statement from the Department of Labor: In the week ending March 31, the advance figure for seasonally adjusted initial claims was 242,000, an increase of 24,000 from the previous week’s revised level. The previous week’s level was revised up by 3,000 from 215,000 to 218,000. The 4-week moving average was 228,250, […]
Meanwhile Back In The Real Economy
While markets get whipsawed on trade war fears, back in the real economy things are smoking. Not only did we see smoking demand for oil, the preponderance of economic data is signaling even stronger U.S. and global energy demand. Where it counts in jobs and growth, things are looking the best they have in years. […]
Facebook-Bullish Reversals Taking Place At 6-Year Support
Facebook has been in the news of late, unfortunately for the bulls, its been mostly negative. Could this situation be creating an opportunity? The Power of the Patterns believes it has. Facebook has experienced one of its sharper declines in its short history, since the highs in January. The decline brought it down to rising support […]
The Next Crisis Will Be The Last
It is an interesting thing. Throughout the last four decades there is a direct link between the actions of the Federal Reserve and the eventual economic and market outcomes due to changes in monetary policy. In every case, that outcome has been negative. The general consensus continues to be the markets have entered into a “permanently […]
EUR/USD: Dollar Gains As Fears Of A Trade War Diminish
In the past one month, the EUR/USD pair has moved up and down. It has moved to a high of 1.2477 before losing the gains to a low of 1.2237. The pair reached the above high on March, 27 following increased pressure about trade. Then, investors believed that the dollar would be a bigger loser […]
S&P 500 And Nasdaq 100 Forecast – Thursday, April 5
S&P 500 The S&P 500 pulled back initially during the trading session on Wednesday, reaching the bottom of the Bollinger Bands indicator. However, we have rallied rather significantly, and this is a strong sign, considering that we had sold off so drastically. Ultimately, the market that shows this type of resiliency is typically a very […]
Forex Critical: Mexican Peso – A Breakdown And The End Of A Trade
When I last wrote about the Mexican peso three months ago, I described the NAFTA-driven context surrounding the breakdown of USD/MXN below its 50-day moving average (DMA). I was still holding onto a long-standing short on USD/MXN. I managed to keep holding this short until Wednesday evening (April 4, 2018). The Mexican peso is sustaining a […]
US Still On Track To Post Moderate GDP Growth In Q1
The latest announcements by the US and China to slap trade tariffs on each other could take a bite out of economic growth. But at this stage it’s just talk. The potential for trouble in the months ahead can’t be dismissed. Meantime, the current estimates for first-quarter GDP growth in the US point to a continuation of […]
