Author Archive: Jeremy Parkinson
BSE Sensex 30 Index: Multiple Time Frame Geometric Analysis
Short-Term/Daily: Uptrend in place since September 28, 2017. Market bounced off support last Friday. Intermediate-Term/Weekly: Uptrend progressing since February 29, 2016. Market dropping following hit of circular resistance. Possible change of trend. Long-Term/Monthly: Uptrend since March 2009. Possible failed breakout of a large geometric channel, with a potential drop to channel support coming, which would produce an intermediate-term […]
EUR/USD Wedge Pattern Awaits Bearish Or Bullish Breakout
EUR/USD 4 hour The EUR/USD could be in a wave B (purple) bearish retracement If price is able to break below the support trend line (blue). A bearish breakout could see price fall and challenge the Fibonacci levels of wave 2 vs 1 (pink). 1 hour The EUR/USD break below support (blue) could see price […]
Stock Market 2018: The Tao Vs. Central Banks
The central banks claim omnipotent financial powers, and their comeuppance is overdue. I will be the first to admit that invoking the woo-woo of the Tao as the reason to expect a reversal of the stock market in 2018 smacks of Bearish desperation. With everything coming up roses in much of the global economy, there is […]
USD/CAD Daily Analysis – Monday, December 4
USD/CAD moved sideways in a trading range between 1.2666 and 1.2916 and is now facing 1.2666 support once again. A breakdown below this level could take price to next support level at 1.2600, followed by 1.2433. Resistance levels are at 1.2800 and 1.2916, above these levels will indicate that the uptrend from 1.2061 (Sep 8 […]
Gold Intermediate Cycle Update – Monday, December 4
Please also see my weekend post on the USD. I will be adding a few more updates over the next few hours. This weekend, I would like to step back and take a longer-term perspective on where Gold is likely headed in 2018. My first chart is a 20+ year weekly showing that Gold is […]
What Could Go Wrong? Full Week Ahead Preview
Ok, it’s time to break out the Jared Vennett clip, because the coming week should bring plenty in the way of excitement. First on the agenda will be everyone playing catch up after Friday. Stocks were weighed down by the ABC story which incorrectly cited a person close to Michael Flynn as saying the disgraced former national security adviser […]
Demand For The American Currency Has Grown Significantly
Last week, trades on the majors were very active. At the same time, a unidirectional trend was not observed. The US currency has kept the current levels. The dollar index (#DX) closed the week with a slight increase (+0.14%). At the moment, the demand for the dollar has grown significantly. On Saturday, the US Senate […]
Tax Bill & Shrinkage Tantrum
The Congressional Budget Office (CBO) scoring of the tax bill was released at 8:49 PM on Friday night, and this link will take you to it. The title of this one-page document is a mouthful: “Summary of the Deficit Effects of a Bill to Provide for Reconciliation Pursuant to the Concurrent Resolution on the Budget […]
Are State-Sponsored Cryptocurrencies On The Way?
The theme of a recent report from Casey Research was that the Russian government is planning to issue its own cryptocurrency (the “CryptoRuble”) that would be created, tracked and held on a state-controlled digital ledger. This was portrayed as being a huge plus for the Russian economy. I don’t see how giving the government greater […]
People Spent $1M On Totally Useless Ethereum “CryptoKitties”
Launched just a few days ago, people have spent over $1 million on totally useless Ethereum-based “CryptoKitties”. Techcrunch reports People have spent over $1M buying virtual cats on the Ethereum blockchain. Launched a few days ago, CryptoKitties is essentially like an digital version of Pokemon cards but based on the Ethereum blockchain. And like most viral sensations that […]
