Author Archive: Jeremy Parkinson
Brits Have Suddenly Stopped Buying Cars
British people have suddenly stopped buying cars and as BI’s Jim Edwards notes, it’s not clear why. As the following chart from Barclays shows, both new- and used-car sales have collapsed… While the slump in consumer confidence remains a major factor… as BI’s Jim Edwards notes, a number of other factors are colliding simultaneously to hurt UK car sales: The rise […]
E The Bank Of Canada Abruptly Changes Direction
Early this year the Bank of Canada was unsure about the future path of Canadian economy; accordingly, it announced no change in its rate policy all winter and spring. Suddenly, in August the Bank announced a rate hike of ¼% and followed up with a similar hike in September. This abrupt shift in outlook and […]
Even ‘Street Urchins’ Understand How To Trade The Market – So Why Don’t You?
Former trader and current man who had a whole weekend to find something one of colleagues wrote to disagree with, Richard Breslow, is out with his latest daily missive and unsurprisingly, he thinks you still don’t get it. What is it he thinks you don’t get? Well generally speaking, you don’t seem to get much […]
Hurricanes Are Damaging More Than Cities And Lives…
This is not an opine on the consideration of climate change, but perhaps it should be. In the midst of Harvey, Irma, Jose, and maybe more, I’d like to focus on the measurable (and the immeasurable) economic impacts that these storms are having on the US. In a nutshell, hurricanes cost billions of dollars. In […]
Breadth Indicator Foreshadowed And Confirmed Today’s New High
Posted New High Last Week While the S&P 500 struggled last week, NYSE New Highs – New Lows quietly said “be open to a rally in stocks” by making a new high on Wednesday, September 6 (see chart below). The S&P 500 followed on Monday, September 11, 2017 with a new all-time closing high (bottom […]
Asian Shares And Dollar Head Higher
Asian shares hit 10-year highs on Tuesday and the U.S. dollar headed higher as the damage from Hurricane Irma proved to be far less than expected.The hurricane was downgraded to a tropical storm on Monday and though it knocked out the power for millions of Florida residents, the damage to property and infrastructure was not as devastating […]
Sensex Up Over 170 Points; Realty Stocks Witness Buying
After opening the day firm, stock markets in India maintained their tempo. Sectoral indices are trading on a positive note with stocks in the realty sector and oil & gas sector witnessing maximum buying interest. The BSE Sensex is trading up 175 points (up 0.6%) and the NSE Nifty is trading up 49 points (up 0.5%). The BSE Mid Cap index is trading up by 0.7%, while […]
If Bitcoin Breaks Below Most Recent Low A Deeper Correction Becomes Likely
Summary • Bitcoin forms potential Head and Shoulders Top at resistance of Fibonacci confluence • Breakdown likely leads to a -29% or greater correction Bitcoin (BTC/USD) topped out at $4,979.90 last week before moving into a retracement that has so far seen a decline of as much as -19.6%, as of last week’s $4,001.93 low. […]
Gold Prices May Continue To Fall After Largest Drop In 2 Months
Gold prices plunged as a market-wide recovery in risk appetite sent capital flows pouring out of the safety of Treasury bonds, pushing yields upward alongside shares. The chipper mood likewise echoed in Fed rate hike expectations, with the priced-in 2017 policy path steepening and sending the US Dollar upward. Not surprisingly, this undermined the appeal of non-interest-bearing and […]
Gold Prices Fall As Dollar, Stocks Rise
Gold prices ended Monday’s session down $9.25 as investors continued to cash in profits from a recent rally that pushed the market to the highest level in a year. The reduced anxiety in the marketplace and the rallying world stock markets have put downside price pressure on the safe-haven gold market. XAU/USD is trading at […]
