Category Archive: Finance, No picture
Cocoa Price Forecast: Commodity Expert Sees A 150% Upside
Photo by Alexandre Brondino on Unsplash Cocoa has moved into a deep bear market as it tumbled by over 38% from its YTD high. Pierre Andurand, a well-known commodity trader sees more upside this year. He cited climate change, disease, and the lack of fertilizer in key countries. Cocoa price has tumbled hard recently as some hedge funds unwound […]
Natural Gas Enthusiasts Rejoice: Long-Term Sinewave Continues To Perform
Image Source: UnsplashI know a lot of folks here are ga-ga over natural gas. I am so delighted to see that its long-term sinewave, which I’ve talked about off and on for the past year, continues to perform.More By This Author:Bearish Bets Amid Market HighsSurprised It’s Not HigherMarkets In The Green: Prospects For New Highs Every Day
China’s April Activity Data Disappointed As Heightened Caution Persists
Image Source: Pexels China activity monitor Retail sales growth fell to a new post-pandemic low April’s data continued to show a shift away from consumption as a growth driver for 2024. April retail sales growth fell to 2.3% YoY, down from 3.1% YoY in March, bringing the year-to-date growth rate to 4.1% YoY. The largest drag […]
Elliott Wave Technical Analysis: Bitcoin/USD Crypto Price News
Image Source: UnsplashElliott Wave Analysis TradingLounge Daily ChartBitcoin/ U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Flatposition: Wave ((C))Direction Next higher Degrees: wave (III)Wave Cancel invalid level: 31046.25Details: Wave IV may be complete and the Price increase again in Wave VBitcoin/ U.S. dollar(BTCUSD)Trading Strategy: Overall, Bitcoin is still in an uptrend, but it is currently in a […]
Import Prices Surprise
Image Source: PexelsThe index came in at +0.9% vs. +0.2% m/m.I’ve inverted the dollar index so that the exchange rate and import price should comove if there is exchange rate pass through.Figure 1: Nominal dollar value inverted (blue, left scale), and price of all imported commodities excluding petroleum, n.s.a. (tan, right scale). NBER defined peak-to-trough recession dates […]
AUD/USD Falls Amid Highs US Yields, Fed’s Tough Stance
Image Source: Unsplash Australian Dollar trades at 0.6678, down 0.23%, influenced by higher US yields. Jobless claims rise, housing data fluctuates, and industrial production stalls. Fed officials suggest higher rates may persist as Australian jobs report shows mixed results with unemployment revised to 4.1%. The Australian Dollar posted losses of 0.23% against the US Dollar on […]
Cooler Data Striking A Favourable Chord?
Image Source: PexelsMARKETSU.S. stocks closed lower on Thursday after the Dow Jones Industrial Average (.DJI) briefly touched an intraday high of 40,000 for the first time. Cooler inflation data and robust corporate earnings had initially supported the market’s upward momentum. However, with much of the good news already factored in and ahead of earnings from NVIDIA […]
Asia Morning Bites For Friday, May 17
Image Source: Unsplash Global Macro and Markets Global Markets: US Treasury yields on Thursday reversed some of the declines they experienced after this week’s CPI result. 2Y yields rose 7.2 basis points, while the 10Y yield rose a more modest 3.5bp taking it to 4.375%. Fed speakers again suggested that rates would need to remain higher […]
Please Tell Me You Didn’t Fall For Meme-Stock Craze II
Image Source: PexelsIt happened again. Meme stocks like Gamsetop (GME) and AMC Entertainment (AMC) had a round trip again, leaving countless retail investors in the dust.The apparent culprit behind the boom-bust in these names was an anonymous poster named “Roaring Kitty.” Whether or not this individual was responsible for the rip (and subsequent rug-pull) in these […]
Nasdaq 100 & S&P 500 Elliott Wave Update – Thu, May 16
Image Source: UnsplashDaily update for the S&P 500 & Nasdaq 100 – both markets did put in additional highs for the current sequences. Both markets look to have completed the minute 3rd waves, with minute 4th waves now in progress. I’m leaving open the potential for one additional rally to new highs before the minute 3rd […]
