Bullish Sentiment Drops To A Six-Week Low
After a spike in positive sentiment among individual investors around the New Year, enthusiasm has been a bit more tempered in the last three weeks, falling by over 14 percentage points from its recent high on 1/4. According to the weekly sentiment survey from AAII, bullish sentiment dropped from 54.1% last week to 45.45% this week. That’s […]
E A Weak Dollar Is Not In The U.S. Best Interest
When Treasury Secretary, Steven Mnuchin argued at the Davos conference for a weaker U.S. dollar, he broke with a long line of Treasury secretaries who have historically favored a strong dollar. In the 1990s, Secretary of the Treasury, Robert Rubin was known for his firm stance that the dollar must be protected to safeguard the […]
The Nifty 500
There was a big bull market in the early 1970s, led by a group of fifty large cap stocks known as… drum roll… the “Nifty Fifty.” There is actually a Wikipedia entry for the old Nifty Fifty—click on it and you will see that while a lot of these companies are gonzo, the rest of them […]
Startups Help Clear The Way To Crypto
We see how fast cryptocurrencies are growing. Going from a market cap of $20 billion at the beginning of 2017 to around $550 billion today, cryptocurrencies have been on a tear. One of the more remarkable aspects? They’ve expanded in spite of the difficulties that come with buying and selling them. Sometimes it’s not easy […]
EUR/USD Has Reached Daily H5 Camarilla Resistance
The EUR/USD has touched Daily H5 camarilla resistance and we can see a retracement that might target the POC zone. POC zone 1.2430-15 could reject the pair but if the EUR/USD drops below the trend line, we might see a deeper retracement. Pay attention to order block confluence with 23.6 around 1.2461 as it can […]
January 2018 Initial Unemployment Claims Rolling Averages Again Improve
Hurricanes continue to impact claims taking procedures in the Virgin Islands and Puerto Rico. The market expectations for weekly initial unemployment claims (from Bloomberg / Econoday) were 225 K to 245 K (consensus 240,000), and the Department of Labor reported 233,000 new claims. The more important (because of the volatility in the weekly reported claims and […]
Celgene Beats On Q4 Earnings
Summit, NJ based Celgene Corporation (CELG – Free Report) is a biopharmaceutical company focused on the discovery, development, and commercialization of drugs targeting cancer and inflammatory diseases. Celgene’s key growth driver is Revlimid. The company’s portfolio also includes Pomalyst/Imnovid, Abraxane, Otezla, Istodax, Vidaza and Thalomid/Thalidomide. However, Celgene suffered a series of setbacks over the last few months. The […]
Morning Call For Thursday, Jan. 25
OVERNIGHT MARKETS AND NEWS Mar E-mini S&Ps (ESH18 +0.30%) this morning are up +0.21% as commodity producers and energy stocks rally with the dollar index sliding further to a new 3-year low. Metals prices all rallied with Feb COMEX gold (GCG18 +0.14%) up +0.16% and Mar silver (SIH18 +0.23%) up +0.18%, both at 4-1/2 month […]
The Threats To Global Recovery Are Economic – Not Political
The global economy enters 2018 with good momentum. Expectations for growth this year are rising in many countries, equities are hitting new highs and business confidence is buoyant. The worries around Brexit, the US elections, risks in the Chinese economy, and populism in Europe that loomed large 12-18 months ago have eased. Our “worry index,” […]
EUR/USD Surges On ECB; USD Weakness Steals The Show
Coming into this week, the ECB rate decision set for this morning appeared to be a pretty big event. This was the first rate decision for the bank in the New Year, and just the second since the ECB elected to extend their stimulus program into September of 2018. But already, we had started to hear the […]
