Author Archive: Jeremy Parkinson
GBP/USD: Bearish, Remains Vulnerable To The Downside
GBP/USD: The pair continues to face further weakness following more declines on Wednesday. Support lies at the 1.2150 level where a break will turn attention to the 1.2100 level. Further down, support lies at the 1.2050 level. Below here will set the stage for more weakness towards the 1.2000 level. Conversely, resistance stands at the […]
S&P 500 And Nasdaq 100 Forecast – Thursday, March 9
S&P 500 The S&P 500 fell during the session on Wednesday, but we continue to find support near the 2350 handle. Because of this, I have no interest in shorting this market and I see a couple of moving average is that are coming into play every time we dip. The 20-day exponential moving average, […]
ECB Keeps Rates On Hold, Keeps Dovish “Extended Period Of Time” Forward Guidance
Moments ago the ECB kept all three rates on hold, however in a dovish addition, it kept its current forward guidance which some analysts had expected may be scrapped, by noting that “the Governing Council continues to expect the key ECB interest rates to remain at present or lower levels for an extended period of […]
Oil Drops Below $50 A Barrel On Oversupply
For the first time in 3 months, WTI has dropped below $50 a barrel after crude inventories were shown rising by 8.2 million barrels last week. Inventory levels are now at their highest levels since the US government began recording data in 1982. Why this matters: while oil prices have come back to life, the […]
Staples, Inc. Q4 Revenue Badly Misses, But 2017 Outlook Meets Expectations
Staples, Inc. (SPLS) early Thursday posted mixed fourth quarter earnings results and offered an in-line outlook for 2017, as it makes progress in its delivery business but continues to struggle on the brick-and-mortar side.
Dollar Steady Ahead Of ECB, Oil Drops 5%
Today’s main event is the ECB meeting and press conference the European Central Bank is not expected to change its rate policy even though inflation has hit the 2% target for the first time since 2013 as uncertainties over the Euro area such as elections in France, Holland and Germany are likely to keep the […]
Above The 40 – A Quiet Pre-Fed Breakdown For The Stock Market
AT40 = 43.3% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 60.5% of stocks are trading above their respective 200DMAsVIX = 11.9 (volatility index)Short-term Trading Call: neutral Commentary Times like these really put AT40 (T2108), the percentage of stocks trading above their respective 40-day moving averages (DMAs), to test. The stock market’s underpinnings continued […]
ECB Leaves Rates Unchanged – On To The Draghi Drag
The European Central Bank left its interest rates unchanged as expected. The main lending rate stands at 0% and the deposit rate at -0.40%. The QE program continues as planned: 80€ billion / per month through this month and 60€ billion per month from April and until the end of the year. The focus now shifts […]
Bull Market Has More Room To Run
The bull market has a lot more room to run. With the Trump Administration and GOP Congress deconstructing investment-killing business regulations and aiming to cut taxes, the economy is poised to grow faster, and new technologies will support higher valuations over the next several years Supporting prospects for bigger profits, the energy and manufacturing sectors […]
Preview For ECB Rate Decision And Setups In EUR-Crosses
Video length: 00:08:01 While the ECB will be released new staff economic projections (SEPs) due on Thursday, the scope for the ECB to act at this meeting, one way or the other, seems very limited. Primarily, this is due to upcoming political risk, with Dutch elections next Wednesday, and French presidential elections in April and […]
