Bloodbath: Global Stocks Dive In Tandem
This wasn’t hard to see coming. The Nikkei had fallen for four consecutive sessions and was flat on Tuesday, European shares had fallen for six straight days and the Stoxx 600 was sitting a seven-week low. Oil plunged yesterday. A bond selloff was brewing in China. And junk bonds were snapping. So yeah, the stage […]
S&P 500 – Could Be Dangerous Place For Selling To Start
The trend in the S&P 500 remains up, as it is above long-term moving averages and is in a solid rising channel in the chart below. The little bit of softness that has taken place of late has done nothing to change that trend. The Power of the Pattern wanted to share with you this […]
DXY Index Slammed Down To Key Support Ahead Of US CPI, Retail Sales
The US Dollar took a major step back yesterday, crashing out of its three-week range and two-month uptrend. With 94.19 lost as support, attention has quickly shifted to the October 26 bullish outside engulfing bar low, formed the day of the October ECB meeting, at 93.44. Momentum has started to swing lower as well, with […]
Petroyuan Can Accelerate The De-Dollarization
The move away from Petrodollar In 1974, US President Richard Nixon and King Faisal from Saudi Arabia struck a deal. This deal gave birth to the petrodollar system which still lasts until this day. The deal involves Saudi Arabia selling oil to its largest buyer back then, the U.S. In turn, the U.S. provides Saudi Arabia with money, […]
Mash Up
After being extremely over bought with a record amount of hedge fund and large speculators long caused a sell off after a questionable report from the International Energy Agency’s, Traders hoping that the American Petroleum Institute weekly supply report would perhaps add some clarity only added to the confusion. In a major mixed bag of […]
Bitcoin Value Death Spiral
How close did Bitcoin get to disastrous chain death spiral? Video Length: 00:06:50
Cutting The Tax On Corporate Profits Would Probably Reduce U.S. National Income
Paul Krugman has been explaining (very slowly and clearly) that if the US attracts foreign investment by cutting taxes on profits, then it will have to pay the foreign investors. The Tax Foundation appears not to have noticed that loans are not gifts. This is the ultra-static effect of the cut in which its effects […]
GBP/USD Weakness Exposed – Cannot Rise On Good Data
The level of unemployment remains at record low levels: a jobless rate of 4.3% in September. What about wages? These rose by 2.2%, better than had been expected. In addition, the previous figure for August was revised up to 2.3%. In addition, the Claimant Count Change for October showed a very modest rise: 1.1K, better […]
EC HH The Risk Of Estimating Risk
The US stock market has defied the odds this year, or so it appears, by running hotter and staying calmer for longer than expected, based on a variety of risk metrics. It’s unclear if this is due to a failure of the risk metrics, irrational exuberance run amock, or both. The CAPE ratio for instance – a […]
E The Slide Begins
Adrian Ash, Head of Research at London gold-trading site BullionVault, writes: “One key requirement of money is that it doesn’t drop 27% of its value inside 4 days, only to regain half that drop in the next 36 hours. Hyper-volatility signaled the death of the German Reichmark following World War I. (Ed: actually in was the […]
