Category Archive: Finance
Small Caps Attempting 20-Year Breakout, Says Joe Friday
The Russell 2000 trend remains solidly higher, as it has created a series of higher lows and higher highs inside of rising channel (1) over the past 25-years. Small caps have been an upside leader in 2018, as they are very near all-time highs. We applied Fibonacci extension levels to the 2007 highs and 2009 […]
Mortgage Delinquencies At Multi-Decade Lows
Earlier this week, we noted that the New York Fed’s quarterly household debt data showed a collapse in the share of consumers facing collections for bad debts. On Thursday, quarterly data from the Mortgage Bankers’ Association relating to mortgage bankruptcy and delinquency showed similar results. In the charts below we show the share of all loans facing […]
Crude Oil: Hot Dog Days
The dog days of August have set in on the moves in the commodities, have been exaggerated. While oil holds the 200-day moving average, after a major seasonal sell-off, the concerns about a serious demand slowdown are most likely overblown. Turkey, of course, is a major oil producer and Consumer. NOT! The fears of contagion, […]
WTI Crude Oil And Natural Gas Forecast – Friday, August 17
WTI Crude Oil The WTI Crude Oil market has bounced a slightly during trading on Thursday, as it reached the psychologically important $65 level. By hanging on to this level, it shows signs of life, as this is a crucial level, to say the least. I think that part of this is probably due to […]
Sensex Ends 284 Points Up; FMCG & Metal Stocks Top Gainers
Indian share markets settled higher today taking cues from their Asian peers. At the closing bell, BSE Sensex ended up by 284 points, while, NSE Nifty ended up by 86 points. Except for energy stocks, all sectoral indices ended the day in green with metal stocks and FMCG stocks leading the gainers. Globally, Asian stock markets finished mixed as of the most recent closing prices. The Hang Seng gained […]
Morning Call For Friday, August 17
Overnight Markets And News Sep E-mini S&Ps (ESU18 -0.11%) this morning are down -0.09% and European stocks are down -0.10% as losses in technology stocks weigh on the overall market. Nvidia is down almost 4% in pre-market trading and Applied Materials dropped nearly 6% after both companies gave disappointing guidance on future earnings. Another negative is […]
E Markets: Explanations
The storyline for the week has been China trade talks and a stable CNY versus Turkey defiance as it goes its own way to fix the TRY and economic crisis as it battles the US over a jailed Pastor. The US Treasury Mnuchin threat for more sanctions on Turkey at the US close has led the TRY […]
Gold’s Initial Lackluster Response To Turkey Likely To Be A Red Herring
Turkey is going through an economic crisis―the lira has dropped to an all-time low, 34% over the week ending August 10. The euro also fell 2% over the week because some of the eurozone’s largest banks are lenders to Turkey, as highlighted by the European Central Bank’s financial watchdog department. Gold traditionally has been seen as a […]
Say No To Currency Contagion
Once again the deteriorating relationship between the United States and Turkey is leading the news. The Lira is sliding again and it does seem to be bringing some of the other emerging market currencies with it. As we’ve been saying throughout the week, it’s very possible that the declines in the crypto market earlier this […]
Dollar Limps Into The Weekend
The US dollar is trading heavily against most of the world’s currencies today. The main exceptions come from the emerging markets where the Turkish lira, Russian ruble, and Mexican peso are the chief exceptions, and their losses are modest. This week’s dollar gains are being pared in largely corrective activity and amid a light news […]
