Tech Mahindra Stocks Elliott Wave Technical Analysis – Friday, October 11
Oct 11, 2024
Jeremy Parkinson
Finance, No picture
TECH MAHINDRA – TECHM (1D Chart) Elliott Wave Technical AnalysisFunction: Larger Degree Trend Higher (Intermediate Degree, Orange)Mode: MotiveStructure: ImpulsePosition: Minute Wave ((iv)) NavyDetails: Minute Wave ((iv)) might be complete as a triangle around the 1600 mark. If correct, Minute Wave ((v)) to resume higher soon.Invalidation point: 1420Tech Mahindra Daily Chart Technical Analysis and potential Elliott […]
Tomorrow’s China Briefing Did Not Prevent The Continued Slide In Chinese Stocks Today
Oct 11, 2024
Jeremy Parkinson
Finance, No picture
The combination of the firmer than expected US CPI and larger than expected rise in initial and continuing jobless claims saw short-term US rates fall, and the odds of a quarter-point cut by the Fed rose from about 83% to about 93%. The Fed funds futures market boosted the odds of another quarter-point cut in […]
Why Has Eating Out Become So Costly?
Oct 11, 2024
Jeremy Parkinson
Finance, No picture
Through August 2024, the cost of eating out at establishments that provide full service meals and snacks has risen 23% since January 2021.In fact, when you go out to a restaurant today, it’s not uncommon to see things like $16 dollar BLT sandwiches on the menu. How is it possible that two slices of toasted bread, a couple strips […]
EUR/USD Struggles To Gain Ground Below 1.0950 Ahead Of German Inflation Data
Oct 11, 2024
Jeremy Parkinson
Finance, No picture
The EUR/USD pair remains on the defensive around 1.0935 during the early European session on Friday. The hotter-than-expected US inflation reading on Thursday has provided some support to the Greenback and caps the upside for the pair. The warmer US Consumer Price Index (CPI) reading coupled with the stronger-than-expected September jobs report strengthens the chance that […]
China M1 Is Key To Watch
Oct 11, 2024
Jeremy Parkinson
Finance, No picture
Image Source: PexelsChina is warming up stimulus to escape deflation. This means Chinese M1 is a priority number to watch. Chart 1 – China is still in deflation and she can not stay there. Wall Street bankers have stated that the PBOC must ramp up M1 (via QE) to be over M2, otherwise a Chinese (maybe world) […]
Market Briefing For Friday, Oct 11
Oct 11, 2024
Jeremy Parkinson
Finance, No picture
Image Source: Pexels Clenching-up – is what big-cap-led markets should be doing more of around now; but are resisting the ‘Rocktober’ tendencies. Aside the cap-weighted and thus pricey S&P (dominated by a so-called ‘magnificent seven’ not 493 ‘other’ stocks) gives an impression of strength beyond that exhibited by broader lists.Earnings resilience, or at least stability, matters; but so does the […]
Bitnomial files lawsuit against SEC, challenges its claim that XRP futures are securities
Oct 10, 2024
Jeremy Parkinson
Cryptocurrency, No picture
Key Takeaways Bitnomial legally challenges SEC’s classification of XRP as a security. Federal court’s previous ruling on XRP contradicts SEC’s current claims. Share this article The US Securities and Exchange Commission (SEC) has faced a second dispute this week. On Thursday, Chicago-based digital asset derivatives exchange Bitnomial said it had brought a lawsuit against the […]
The Impacts Of The Hot CPI Report Have Yet To Be Felt
Oct 10, 2024
Jeremy Parkinson
Finance, No picture
Image Source: UnsplashThe CPI report came in hotter than expected for the headline and core CPI metrics. CPI swap pricing did a good job of predicting the headline inflation rate. As a result, today’s report has led the swaps market to price higher CPI inflation rates for October and November. The swaps market is now pricing […]
Asia Morning Bites For Friday, Oct 11
Oct 10, 2024
Jeremy Parkinson
Finance, No picture
Image Source: Unsplash Global Macro and Markets Global Markets: Considering the disappointing CPI data yesterday, it is a slight surprise to see US Treasury yields heading lower again, though they had risen a fair bit in recent days, so perhaps yesterday’s moves reflected a bit of re-positioning. Various Fed officials shrugged off the CPI data, though Raphael Bostic […]
Nasdaq 100 & S&P 500 Elliott Wave Update – Thursday, Oct 10
Oct 10, 2024
Jeremy Parkinson
Finance, No picture
Image Source: UnsplashTonight, I update the current more preferred count that both the NQ and ES are within Minor 5th wave rallies to complete Intermediate 3rd waves. I am seeing slight differences between the NQ and ES, but that is within the minute 3rd waves in process for both. I also update a slight different view […]