The Harsh Truth About Gold
Oct 17, 2017Jeremy Parkinson0
Is gold dead? Over the last three years, the SPDR Gold Shares ETF (GLD) has lollygagged in a sideways direction. I’d honestly rather watch paint dry than analyze a gold chart. Given such an uninspired performance, I don’t believe that gold warrants a major weighting in your portfolio. Of course, my assertion above constitutes sacrilege […]
Sensex Trades In Red; Bank Stocks Top Losers
Oct 17, 2017Jeremy Parkinson0
After opening the day in the red, share markets in India have traded on a volatile note and are presently trading below the dotted line. Sectoral indices are trading on a mixed note, with stocks in the capital goods sector and stocks in the realty sector witnessing maximum buying interest, while stocks in the banking sector are leading the losses. The BSE Sensex is […]
The Distribution Of Returns The Randomness Embedded In Them
Oct 17, 2017Jeremy Parkinson0
As traders, one of the most important traits we can adopt is humility. We have to embrace our fallibility. Markets are complex systems. We cannot know all the relevant variables and causal relationships. Therefore, when we make a market prediction or place a trade, we can’t truly know if the subsequent outcome occurred for the reasons we believed, […]
Above The 40 – A Quiet Bearish Divergence Out Of Overbought Territory
Oct 17, 2017Jeremy Parkinson0
AT40 = 69.9% of stocks are trading above their respective 40-day moving averages (DMAs) – ended 12 straight days overboughtAT200 = 59.7% of stocks are trading above their respective 200DMAsVIX = 9.9Short-term Trading Call: bullish (see caveats below) Commentary AT40 (T2108), the percentage of stocks trading above their respective 40-day moving averages (DMAs), slipped below the overbought threshold […]
Gold Snaps Six-Day Winning Streak
Oct 17, 2017Jeremy Parkinson0
Gold prices moved lower on Monday as the dollar clawed back some of its recent losses. In economic news, the Federal Reserve Bank of New York reported that manufacturing activity in the region jumped to 30.2 from 24.4 a month earlier. The XAU/USD pair is currently trading at $1294.15, slightly lower than the opening price […]
U.S. Bancorp (USB) To Report Q3 Earnings: What’s In Store?
Oct 17, 2017Jeremy Parkinson0
U.S. Bancorp (USB – Free Report) is scheduled to report third-quarter 2017 results on Oct 18, before the opening bell. The bank’s revenues and earnings are anticipated to be up year over year. Why a Likely Positive Surprise? Our proven model shows that U.S. Bancorp is likely to beat on earnings in the third quarter. This is because […]
USDCAD Daily Analysis – Tuesday, Oct. 17
Oct 17, 2017Jeremy Parkinson0
USDCAD moved sideways in a trading range between 1.2433 and 1.2598. A breakdown below 1.2433 will confirm that the upside movement from 1.2061 had completed at 1.2598 already, then the pair would find next support at 1.2300, followed by 1.2061. On the upside, a breakout of 1.2598 resistance will indicate that the uptrend has resumed, […]
EUR/USD Builds ABC Zigzag In Expanded Wave 4
Oct 17, 2017Jeremy Parkinson0
EUR/USD 4 hour The EUR/USD has made a bearish bounce away from the resistance trend line (orange) which therefore makes a bullish ABC (purple) zigzag within a wave X (pink) correction more likely in an ongoing and extended wave 4 (light purple). 1 hour The EUR/USD is building an ABC (blue) correction within the larger […]
S&P 500 And Nasdaq 100 Forecast – Tuesday, Oct. 17
Oct 17, 2017Jeremy Parkinson0
S&P 500 The S&P 500 rallied during the day after initially falling on Monday, showing signs of support at the 2550 level. I believe that the uptrend continues in this market, and we will continue to gain as earnings season should give us plenty of reason to go back into the stock market. I believe […]
UK Inflation Hits 3% As Expected – GBP/USD Slides
Oct 17, 2017Jeremy Parkinson0
Headline inflation comes at 3%, as expected. Core inflation also meets the early forecasts and stands at 2.7%. The RPI slightly missed expectations and remained at 3.9%. The House Price Index also fell short of projections and stands at 5% y/y. PPI Input rose by only 0.4% m/m, below expectations. All in all, the main figures […]