Category Archive: Finance
Longest Bull Market Breaks Out To New High
This is now the longest bull market in history and it just broke out to a new high record high. The major indices broke out of a long 6-month trading range and hit fresh record highs after the Federal Reserve made it clear it will do whatever it takes to fight inflation. Stepping back, […]
E Turkey’s Financial Problems Are Starting To Resemble The Greek Crisis Of 2010
“Some market pundits continue to claim that developments in Turkey will remain contained to that country. We heard similar comments just before the Greek crisis. Yet, it is worth noting that foreign banks’ exposure to Turkey ($260 billion) is just as large as in Greece circa 2008…. Canadian banks, unlike their European counterparts, have very […]
US Economic Data ‘Death Cross’?
Remember ‘global synchronous recovery’? That is over… For the first time since early 2015, US economic data is trending dramatically more disappointing than that of Europe. In fact, as the ‘global synchronous recovery’ evaporates, the US and European economic data has not been so completely decoupled in years… but don’t forget, this is the greatest economy in the world. […]
Gold COT Update: Big Specs Increase Shorts
Commercial gold traders are still short, but barely. I like the format of CotPriceCharts but there is a delay in updating the charts for some reason. I highlighted the changes as noted by the current US Commodity Commitment of Traders Report. Not all of the reports are in a single link. Commercial traders (miners forward selling gold plus […]
Energy’s Bounce Foretold
What a difference a week can make. In our Chart of the Day on August 15th, we noted that extreme oversold conditions (over 3 standard deviations below the 50 day moving averages) in the Energy sector had historically been a bullish signal in the near-term. Below we include the key data from that note. As shown in […]
Market Talk – Friday, August 24
No conclusion, as the US/China trade talks finish, a new PM in Australia, unchanged +0.7% release for Japanese inflation and a rally in oil and gold as the USD turned. All this ahead of Jerome Powell’s Jackson Hole speech and still no volatility. This all goes to show that traditional summer months are difficult to […]
Eurodollar University: Dark Money
Deutsche Bank wasn’t the only global institution under the gun of the US Justice Department. While the German bank settled for a record fine earlier this year, RBS was also hit. Theirs was an eye-popping $4.9 billion settlement. The ostensibly British bank had already set aside $3.4 billion for the anticipated civil penalty, meaning that only $1.4 […]
Stocks And Precious Metals Charts – Somebody To Love – Madness
“In that direction,’ the Cat said, waving its right paw round, `lives a Hatter: and in that direction,’ waving the other paw, `lives a March Hare. Visit either you like: they’re both mad”. Lewis Carroll, Alice’s Adventures in Wonderland Fed Chair Jay Powell made dovish sounds in his talk at Jackson Hole today. And the PBOC made some noises about […]
