Above The 40 – Overbought Conditions Abruptly End On A Reversal Day
AT40 = 64.0% of stocks are trading above their respective 40-day moving averages (DMAs) – ended a 1-day overbought periodAT200 = 62.7% of stocks are trading above their respective 200DMAsVIX = 11.7Short-term Trading Call: bullish Commentary It figures that just one day after the stock market finally crossed into overbought territory, it dropped right back out in dramatic fashion. […]
A Key Decision Awaits Bank Of Canada
Today, at 3PM GMT, the Bank of Canada will release its first interest rate decision of the year. To traders, investors, and Canadians, this decision will be vital. As you recall, before the financial crisis of 2008/09, the base interest rate in Canada was 4%. Within and after the crisis, the BoC started providing support […]
IBM Upgraded To Overweight From Underweight At Barclays
Barclays analyst Mark Moskowitz double upgraded IBM (IBM) to Overweight from Underweight and raised his price target for the shares to $192 from $133. The technology giant closed yesterday up 69c to $163.85. The company could be entering a period of top-line stability and maybe even modest growth over the next 12-18 months, Moskowitz tells […]
Dow 30 Index Hits 26,000 As U.S. Stocks Gain $7.8 Trillion In Value Since 2016 Election
TODAY’S NEW ALL-TIME HIGHS: the Dow 30 Index spiked above 26,000 briefly today (Tuesday), as shown on the following Monthly chart the S&P 500 Index spiked briefly above 2800, as shown on the following Monthly chart the Nasdaq Composite Index spiked briefly above 7300, as shown on the following Monthly chart …amid reports that measurements of the Wilshire 5000 Index indicate that U.S. stocksgained roughly $7.8 Trillion in value since the November 8, 2016 […]
The US Dollar Index Is Testing Local Lows
2017 was the worst year for the US dollar in the last decade, but the analysts say that this is not the end. The low inflation and a moderate growth of the US economy contribute to the further weakening of the US currency. Investors believe that the closing of the asset purchase program and the […]
Gold Prices May Fall If BOC Signals More Rate Hikes On The Horizon
Gold prices were in for a volatile session. The metal began the day on the defensive as US markets returned in an upbeat mood after Monday’s holiday closure but a violent intraday reversal inspired a swift recovery that erased nearly all of the decline. The benchmark S&P 500 stock index touched a record high only to turn sharply […]
Why Commodities Are A Better Bet These Days
It’s been a long time since an article about commodities felt like ‘click bait.’ After all, commodity indices have been generally declining for about seven years – although 2016 saw a small advance – and the Bloomberg Commodity Index today sits 63% below its all-time high set in the summer of 2008. I’ve written before, […]
EUR/USD: The Pair Strayed, Then Returned To The Balance Line
Previous: On Tuesday the 17th of January, trading on the euro/dollar pair closed 3 pips down. The intraday low was 1.2195. In the European session, the euro dropped after reports from Germany, where the Social Democrats are split on whether or not to join in a coalition government with Angela Merkel’s Christian Democrats. Later, a Reuters […]
Indian Indices Trade Marginally Higher; IT Stocks Witness Buying Interest
Stock markets in India are presently trading marginally higher. Sectoral indices are trading on a mixed note with stocks in the IT sector and banking sector witnessing maximum buying interest. Realty stocks are trading in the red. The BSE Sensex is trading up 123 points (up 0.4%) and the NSE Nifty is trading up 32 points (up 0.3%). The BSE Mid Cap index is trading down by 0.1%, […]
Markets Head Downward With Cryptocurrencies Leading The Decline
Bitcoin briefly hit below $10,000 on Tuesday on Coinbase, a leading cryptocurrency exchange, for the first time since crossing the milestone price in November 2017. Other key cryptocurrencies were also under pressure, with ripple falling below $1 and Ethereum sinking a whopping 30 percent to a low of $854 before heading higher. As of 2:11 p.m. […]
