USD/CAD Weekly Analysis – Sunday, March 4
USD/CAD extended its upside movement from 1.2248 to as high as 1.2915, facing the previous high resistance at 1.2920. A breakout of this level could take price to 1.3200 area. Support is at the rising trend line on the daily chart, only a clear break below the trend line support could signal completion of the […]
Euro Contends With Italian Election Results, ECB Meeting
Fundamental Forecast for EUR/USD: Neutral Italian election results won’t be officially released until Monday morning, and exit polls have a history of being well-off the market. Take what you see at market open on Sunday with a grain of salt. The ECB is likely to signal that easing will continue for the foreseeable future, especially given […]
More Selling In The Offing?
Last week, I wrote about the looming bull trap. On Feb 27, the stock market topped and the SPX fell 142 points or about 5% in 3 days. My observation was based on time cycles and Elliott Wave. Most of the decline was blamed on the Trump announcement of tariffs on Aluminum and Steel, with […]
SPX At Another Crossroad
After the abrupt and significant correction from 2872 took place, I questioned whether it could end before the 40-wk cycle had made its low in May. That does not mean that we could not have a retest of the high before dropping back into the cycle low. The market has been very volatile since the […]
E Have Gold Prices Bottomed?
Gold Futures Gold futures in the April contract settled last Friday in New York at 1,330 an ounce while currently trading at 1,326 down about $4 for the trading week, however, its currently trading up $18 as money flows are coming out of the equity market and into the precious metals as a flight to […]
3 Strategies For Managing Higher Volatility
“Everyone has the brain power to make money in stocks. Not everyone has the stomach,” once observed legendary fund manager Peter Lynch. His point was that most people don’t have the stomach – or emotional stamina – for sticking to an investment plan when market conditions get choppy. What makes 2018 remarkably different from the […]
Caterpillar Initiated With An Overweight At Morgan Stanley
Morgan Stanley analyst Courtney Yakavonis initiated coverage of the Construction Machinery space, starting Caterpillar (CAT) with an Overweight rating and $185 price target. Construction machinery stocks have outperformed since 2016, but a recovery in the global economy and key end markets leads Yakavonis to believe that there could be further to go, she tells investors. […]
Chief Powell Is Walking A Monetary Tightrope Blind
Some commentators might even have felt some sympathy for Fed Chief Powell in his first testimony before Congress. He is so obviously navigating a treacherous monetary path ahead without any reliable compass. That is no different from the reality of his predecessor’s position, but at least in Mr. Powell’s case, there is not the academic […]
Realty Ponzi Schemes Rampant: Would-Be Investors Beware
The past decade of escalating debt has led to falling due diligence and investment return prospects, and fueled rampant speculation in so many areas– especially real estate. Somehow the more expensive and opulent the projects appear, the more gullible and trusting the ‘investors’. Whether its condo developers and board members siphoning off funds for their own […]
Bull Of The Day: MasTec
I last wrote about MasTec (MTZ – Free Report) as the Bull of the Day on February 6 as earnings estimates and price targets were rising before their quarterly report this week. The $3.75 billion E&C services (engineering & construction) provider for telecom and energy companies delivered record fourth-quarter 2017 adjusted earnings per share of 47-cents, beating the Zacks Consensus Estimate […]
