Elliott Wave Technical Analysis: Russell 2000 Index – Monday, Oct. 28
Oct 28, 2024
Jeremy Parkinson
Finance
Russell 2000 Elliott Wave Analysis – Daily ChartIndex: Russell 2000 Chart Type: Daily ChartRussell 2000 Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Gray Wave 2 POSITION: Orange Wave 3 DIRECTION NEXT HIGHER DEGREES: Gray Wave 3 DETAILS: The daily Elliott Wave analysis for the Russell 2000 index reveals a counter-trend structure with a corrective mode in gray wave 2, currently unfolding within the broader gray […]
At These Levels, Buying Silver Is Like Getting It At $5 In 2003
Oct 28, 2024
Jeremy Parkinson
Finance
The current setup on the silver chart is a lot like the start of the silver bull market of the early 2000s. In those days silver was under $5 and considered cheap.The current bottoming pattern from around 2014 to now is very similar to the early 2000s bottoming pattern (see the chart below). I have […]
Tech Heavyweights Set To Report 3Q Earnings This Week
Oct 28, 2024
Jeremy Parkinson
Finance
Leading into this week’s 3Q reports from five tech heavyweights, the Nasdaq 100 has not made much progress in the last couple of weeks. These results will have repercussions for other market cap-weighted indices, such as the S&P 500, where both bulls and bears defended their positions last week.The Nasdaq 100 has now rallied for […]
S&P 500 Retreats As Bearish Change In Interest Rates Scares Bulls
Oct 28, 2024
Jeremy Parkinson
Finance, No picture
Even though the U.S. Federal Reserve cut short term interest rates in the U.S. by a half point last month, longer term interest rates seem to have other ideas. Those rates increased in the past week. The bearish change spooked investors into backing off some of their recent bullish investments in stocks that would benefit from falling interest rates.That […]
Japan’s LDP Loses Majority, Sending Yen Lower
Oct 28, 2024
Jeremy Parkinson
Finance, No picture
Image Source: Unsplash Overview: The next couple of weeks in the capital markets are likely to be tumultuous, and the loss of the LDP majority in Japan get it started. The yen gapped lower amid the immediate uncertainty. The yen is off about 0.5% toward the middle of today’s range. Leaving aside the Scandis, where are mixed, […]
Elliott Wave Technical Analysis: JPMorgan & Chase Co.
Oct 28, 2024
Jeremy Parkinson
Finance
JPM Elliott Wave Analysis Trading LoungeJP Morgan & Chase Co., (JPM) Daily ChartJPM Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Minor wave 5DIRECTION: Upside within wave 5.DETAILS: Looking at the possibility of a wave {i} of 5 completed as we reached 220$ and we could not be looking for a pullbackn in wave {ii} before turning higher. […]
Weekly Market Pulse: Rose Colored Glasses?
Oct 28, 2024
Jeremy Parkinson
Finance
Image Source: Pixabay But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions… Alan Greenspan, The Challenge of Central Banking in a Democratic Society At the Annual Dinner and Francis Boyer Lecture of The American Enterprise Institute for Public Policy Research, Washington, D.C. […]
Daily Market Outlook – Monday, Oct. 28
Oct 28, 2024
Jeremy Parkinson
Finance
Image Source: Pixabay The results of Japan’s Lower House elections have led to a significant defeat for the Liberal Democrat-Komeito coalition. This is likely to contribute to ongoing volatility in the USDJPY exchange rate as political uncertainty in Japan is compounded by other macro risks, the benchmark Nikkei225 is trading sharply higher, gaining 1.8%. Mainland China […]
The Inflationists’ Narrative Is Crumbling
Oct 28, 2024
Jeremy Parkinson
Finance
Image source: Pixabay The United States 10-year government bond yield reached a low of 3.6% in September but has rapidly creeped up to 4.2%, erasing all the rate cut impact. The primary cause is the out-of-control public spending and the lack of confidence among bond investors in the government’s ability to manage its public finances. Therefore, […]
EUR/USD Weakens Amid Global Economic Uncertainty And Strong US Dollar
Oct 28, 2024
Jeremy Parkinson
Finance, No picture
Image Source: Unsplash The EUR/USD pair began the week around 1.0789, reflecting heightened global economic uncertainties and a strong inclination towards safe-haven assets. The appeal of the US dollar is bolstered by rising US government bond yields and positive consumer confidence indicators from the University of Michigan, which reported a rise to 70.5 points in October, […]