Category Archive: Finance
Above The 40 – The S&P 500 Shows Off Again
AT40 = 59.3% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 58.3% of stocks are trading above their respective 200DMAsVIX = 9.9 (volatility index)Short-term Trading Call: neutral Commentary The stock market continued its healing process from its last bout of mild indigestion. Most impressive is the S&P 500 (SPY) which confirmed support at its […]
Gold Steady Ahead Of Inflation, Retail Sales Data
Gold prices ended Thursday’s session down $2.32 after Federal Reserve Chair Janet Yellen said she believed a recent slowdown in inflation won’t last. Upcoming inflation data will be closely watched as a recent softness in consumer prices has been of concern among Fed officials who want to see further evidence of continued toward the central […]
Loonie’s Upward March Continues
The Canadian Dollar, familiarly known as the Loonie, firmed against the greenback late on Thursday and extended earlier gains after the Bank of Canada’s announcement yesterday that it had raised the benchmark lending rate. Analysts are still debating whether the BOC will pencil in another rate hike this year with that likelihood now priced in […]
Slowing U.S. CPI To Keep EUR/USD Supported Above July-Low (1.1312)
Another downtick in the U.S. Consumer Price Index (CPI) may spur a rebound in EUR/USD as the Federal Open Market Committee (FOMC) appears to be scaling back its hawkish outlook for monetary policy. Why Is This Event Important: Even though U.S. Retail Sales are projected to increase in June, the prepared remarks for the Humphrey-Hawkins testimony appears to have […]
E USD Index Searching For A Base; A Reversal In View
USD index is still trading bearish, specifically in black wave 5 of 5). We can see the recent rally as a corrective wave 4, that found its resistance at the 96.21 level, from where a new drop occurred. That said, ideally current black wave 5 will now search for support and a low near the […]
Draghi To Attend Jackson Hole – Will EUR/USD Rise?
The European Central Bank is sending mixed messages regarding its next moves. On one hand, the economic situation is improving with growth picking up and employment on the rise. On the other hand, inflation, the ECB’s mandate, is hardly moving. In his Sintra Speech, Draghi talked about reflation replacing deflation and that the ECB will gradually remove stimulus. This […]
EURUSD: Growth To 1.1451 Expected Before The Weekend
Previous: On Thursday, trading on the Euro closed down. During the European session, the single currency depreciated against the Dollar, reaching 1.1371. This sharp drop on the euro was linked to comments from ECB governing council member and governor of Latvijas Banka, Ilmārs Rimšēvičs. He remarked that, due to low inflation in the region, the […]
S&P 500 And Nasdaq 100 Forecast – Friday, July
S&P 500 The S&P 500 rallied slightly during the day on Thursday, testing the 2450 handle. The 2450 handle is massively resistive as it was the previous high in the market, and as a result I think if we can break above there the market will continue to go much higher. Pullbacks will be supported […]
Quick Look: Retail ETFs Face Tough Test
I’ve been fascinated watching the sentiment and price trends in publicly traded retail stocks over the last six months. Unless you have been living under a rock, you are probably aware that Amazon.com (AMZN) has been minted as the front-runner to take over just about every conceivable retail segment in the next decade. Their share […]
Will The US CPI Data Hold Up Or Is There More Disappointment In Store?
Traders will be looking at the consumer price index data to be released today. According to economists polled, consumer prices are expected to rise 0.1% on the month. This would reverse the 0.1% decline seen in the previous month. On a year over year basis, headline consumer prices are expected to rise 1.7%, marking a […]
