Pending Home Sales Stumble In January
This morning the National Association of Realtors released the January data for their Pending Home Sales Index. Here is an excerpt from the latest press release: Lawrence Yun, NAR chief economist, says pending sales took a noticeable step back to start 2018. “The economy is in great shape, most local job markets are very strong […]
Sterling Continues To Slide On Brexit Fears
The Pound Sterling once again is under pressure as FX traders await the official release of the first draft of the document governing the Brexit transition. Earlier today, Michel Barnier, the EU negotiator, said that Theresa May’s government was holding tight to an “illusion” even as the clock winds down toward Britain’s withdrawal sometime next […]
Despite Soaring Demand, Lithium Prices Could Crash In Half
At the end of 2017, Bloomberg Business-week published an article titled ‘We’re Going to Need More Lithium,’ which outlined the challenges currently facing the global lithium industry as demand for the rare earth has surged over the past few years thanks to a spike in demand for electric vehicles, which are now competing with laptops […]
January 2018 Pending Home Sales Seasonally Adjusted Index At Lowest Level In 3 Years
The National Association of Realtors (NAR) seasonally adjusted pending home sales index fell significantly. Our analysis says pending home sales are in contraction. The quote of the day from this NAR release: … With the cost of buying a home getting more expensive and not enough inventory, some prospective buyers are either waiting until listings […]
S&P Tests Key Technical Support As Crude & Breakevens Plunge
S&P 500 is testing back to its 50DMA as WTI prices and breakevens plunge to the lows of the day… Only Nasdaq is holding on to positive for now… As Breakevens plunge in an ugly echo of early Feb’s chaos… And WTI/RBOB prices are plunging…
Lowe’s Tanks On Earnings, Possible Short-Term Bottom
Lowe’s Companies (LOW) fell 8% on Wednesday morning after a mixed earnings report. While the company beat on revenue and same-store sales, it missed by $0.13 on earnings per share (EPS). LOW reported adjusted EPS of $0.74 and total revenue of $15.49 billion, compared to the market’s expectations of $0.87 and $15.33 billion. Same-store sales […]
Nasdaq 100- Bearish Reversal At Double Top In Play
Both charts above are the Nasdaq 100. Monthly on the left, weekly on the right. NDX hit the top of rising channel (1) in January and stopped on a dime. Soon after it declined 10%, then reversed higher after hitting rising support at (2), which has been in place for the past 2-years. The weekly chart highlights […]
NZDUSD Hits Target On Powell’s Comments And China’s PMI
The New Zealand dollar fell against the U.S. dollar as projected in the Forex Weekly Outlook. The Fed’s hawkish comments during Tuesday’s testimony helped boost the U.S dollar outlook against emerging currencies but the unexpected slowdown in Chinese manufacturing PMI further weighed on New Zealand’s currency outlook as experts are projecting a slowdown in the Chinese economy in […]
BTC/USD Forex Signal – Wednesday, Feb. 28
Yesterday’s signals were not triggered, as there was no bearish price action at $10,894. Today’s BTC/USD Signals Risk 0.75% per trade. Trades may only be taken before 5pm Tokyo time, over the next 24-hour period. Long Trade Go long after a bullish price action reversal on the H1 time frame following the next touch of $10,481. […]
Now Is The Time To Stock Up On Exxon Mobil
The long time powerhouse in the oil and gas industry, Exxon Mobil (NYSE: XOM) has had a tough time lately. Last year, 2017, wasn’t kind to shareholders. The beginning of 2018 looked promising, but then the company announced earnings and the stock tanked. What is going on with Exxon Mobil? Is this stock a has-been and […]
