Author Archive: Jeremy Parkinson
E EIA Data – Big Drawdown In Crude Oil Supplies
EIA numbers are out this AM. Crude Oil supplies – DOWN -4.9 million barrels Gasoline inventories – UP + 1.4 million barrels Distillates inventories – UP + 1.8 million barrels HERE IS WHAT I AM LOOKING AT: DAILY PRODUCTION – DOWN 14,000 barrels per day. Production has now fallen 10 out of the last eleven […]
3 Mutual Funds To Buy On A Resurgent Chinese Economy
The Chinese economy has been at the root of the broader market malaise since the start of 2016. But, the world’s second largest economy showed signs of improvement in March. China’s factory indicators point to a pickup in the economy supported by greater stability in the yuan and a rise in its stock markets. Pressure […]
Crude Jumps After DOE Confirms Biggest Oil Inventory Draw Since January; Cushing, Gasoline, Distillates Rise
Following yesterday’s API data, which showed the biggest draw of 2016 with a 4.6 million reduction in oil inventories, everyone was keenly looking forward to today’s DOE data. Moments ago the DOE indeed confirmed the API data, reporting that in the past week oil inventories declined by 4.949MM, more than the API print, down from last […]
Broad US Stock Market
Here is the multi-index weekly chart. Most are above former resistance but… where are higher highs? Show me higher highs, Jerry.
Great Graphic: Head And Shoulders In Dollar-Yen
The old head and shoulders pattern in the dollar against the yen is back in vogue. We first pointed it out the first week in January here. Recall the details. The neckline is drawn around JPY116.30 and measuring objective is near JPY107.00. That target also corresponds to a 38.2% retracement of the big Abe-inspired dollar rally (~JPY106.80). This […]
The Dow — What’s Next?
The Dow failed to elect any Monthly or Quarterly Bullish Reversals. It did elect two of the three Weekly Bullish Reversals, leaving the 3rd intact. We provided these numbers previously, warning not to expect follow-through without electing all three. “In the Dow, we have a cluster of Weekly Bullish Reversals starting at 17680, 17750, and […]
Pfizer Confirms Termination Of Proposed Combination With Allergan
Pfizer (PFE) announced that the merger agreement between Pfizer and Allergan (AGN) has been terminated by mutual agreement of the companies. The decision was driven by the actions announced by the U.S. Department of Treasury on April 4, 2016, which the companies concluded qualified as an “Adverse Tax Law Change” under the merger agreement. In […]
E RBA Set The Interest Rate For April
On Monday, the AUD/USD pair traded lower due to a sell-off in the AUD caused by the worse than expected retail sales figures in Australia. The Aussie’s February retail sales came in flat on a monthly basis, expectations being of a 0.4% rise month-on-month after a 0.3% monthly rise in the month of January. The […]
The Stock Whisper Of The Day: BP, USO, DBC, MT, SPY
Hot stocks of the day: BP,USO, DBC, MT, SPY Video length: 00:06:48
Euro/Dollar Stabilised At 1.1380
Yesterday’s Trading: The euro/dollar on Tuesday managed to get back its losses after falling to 1.1335 in response to strong USA ISM service sector data. In March, the ISM index for business activity in the US service sector rose to 54.5 against 53.4 in February (forecasted: 53.6). Markit’s PMI rose from 51.1 to 51.3. It’s […]
