Author Archive: Jeremy Parkinson
S&P 500 And Nasdaq 100 Forecast – Monday, Oct. 16
S&P 500 The S&P 500 continues to show resiliency, as we rallied during the day on Friday. The 2550 level looks to be offering support, and with earnings season kicking off this week, we had seen money flowing into the index anyway. I think that eventually we will break out to the upside, but I’m […]
Triangle On GBPNZD Points Higher
Good day traders! Today let’s have a look at GBPNZD and its potential Elliott wave pattern. GBPNZD is trading in a potentially complex correction as part of wave iv). We see a possible contracting triangle correction in the making, with four sub-waves already unfolded. Current intra-day move can now be final sub-wave e of iv), […]
Investors Are Ignoring The Evidence At Their Peril
I was recently watching a movie about the FBI trying to bring down a terrorist cell in the U.S. During their investigation, their evidence board became more and more cluttered with people, evidence, and locations as they attempted to track down the “cell.” At first, the clues were disparate, and they didn’t provide a clear path […]
BTC/USD Forex Signal – Monday, Oct. 16
Today’s BTC/USD Signals Risk 0.75% per trade. Trades must be taken before 5pm New York time today only. Long Trades Go long after a bullish price action reversal on the H1 time frame following the next touch of $5380.48, $5225.22, or $4911.53. Put the stop loss 1 pip below the local swing low. Adjust the […]
U.S. Dollar Index Prepares To Test 93 Level, Once Again
This week’s Chart of the Week features the U.S. Dollar Index (DXY) as it prepares to test the $93 level once again. The last time $93 was tested, we saw a rally above $94, however we are expecting $93 to fail this time around. Beyond $93, we are looking to break below the trendline at $92.85 and […]
Russia To Create Its Own “Cryptoruble” After Denouncing Cryptocurrencies
After denouncing other cryptocurrencies, Russia is planning to join the cryptocurrency game. Russian President Vladimir Putin has officially stated that Russia will issue its own ‘CryptoRuble’ at a closed-door meeting in Moscow. How Will Russian Cryptocurrency CryptoRuble Be Different? So how will this new Russian cryptocurrency be different? Well, in a true Russian manner, it is […]
The Great Reckoning For Policymakers’ Failures Has Begun
Next week, I will publish my annual Budget Outlook, covering the 2018-2020 period. The aim, as always, will be to challenge conventional wisdom when this seems to be heading in the wrong direction. Before publishing the new Outlook each year, I always like to review my previous forecast. Past performance may not be a perfect […]
Netflix: Volatility King
With 3Q earnings reporting underway this seems this like a good time to update and expand upon Digest Issue 39 “Volatility Kings 3Q 2017 [Charts]” with another look at Netflix (NFLX) scheduled to report after the close today. First a brief market review. S&P 500 Index (SPX) 2553.17 advanced 3.84 points or +.15% for the week after making a new […]
US Dollar Erases Gains As Euro And Commodity Currencies Recover
The US dollar index erased October’s strong trading gains and fell below its key 200-week moving average last week, as a less dovish than expected FOMC Meeting Minutes and worse than expected US inflation data pushed the greenback lower. Inside the Fed Minutes, Federal Reserve officials reiterated that they saw the US economy expanding at […]
WTI Crude Oil And Natural Gas Forecast – Monday, Oct. 16
WTI Crude Oil The WTI Crude Oil market rallied on Friday, breaking the top of the hammer that formed on Thursday, which of course bounced off the psychologically important $50 level. For me, the signals that we are ready to go higher. I think eventually we will go looking towards the $53 level, but I […]
