Above The 40 – Stock Market Lift-Off
AT40 = 73.8% of stocks are trading above their respective 40-day moving averages (DMAs) – overbought day #7AT200 = 59.7% of stocks are trading above their respective 200DMAsVIX = 9.7Short-term Trading Call: bullish Commentary This is what a lift-off for an extended overbought rally looks like. The S&P 500 (SPY) followed its upper-Bollinger Band (BB) the entire week […]
Brexit Disaster Looms As UK Government Power Struggle Erupts
UK voters were never very bothered about membership of the European Union (EU) before the Brexit vote last year. Opinion polls instead showed they shared the general feeling of voters everywhere – that their country was heading in the wrong direction, and it was time for a change. Now, last week’s Conservative Party conference showed that […]
US Dollar Gains Ground As Politics Weigh On The Euro And British Pound
The US dollar index rose to its strongest level in over two months, while short-dated US Treasury yields climbed to a nine-year high, after data inside the September Non-farm payrolls job report showed the largest gain in US wages since December 2016, further boosting hopes on an interest rate hike from the Federal Reserve this […]
Macro Mondays: Correction
What is a ‘Correction’? A correction is a reverse movement, usually negative, of at least 10% in a stock, bond, commodity or index to adjust for an overvaluation. Corrections are generally temporary price declines interrupting an uptrend in the market or an asset. A correction has a shorter duration than a bear market or a […]
NZD/USD Remains Under Pressure
The NZD/USD has picked up the bearish tone once again overnight and into the London session as two primary forces continue to pressure the pair lower. The first of these is the continuing political uncertainty surrounding the currency with the recent election failing to deliver any clear mandate for either of the major parties […]
Dividend Income September 2017
Each month I will publish my dividend income. I will mainly do this for staying self motivated and to give you the readers the chance to follow my journey from the beginning on. The dividend income in the first couple of years will be on a very low level but investing in dividend stocks is […]
Weekly Gold Forecast – Monday, October 9
Gold prices rose $7.72 on Friday, recouping earlier losses, and settled at $1276.15 an ounce as traders assessed the likelihood of a December rate hike in the wake of a mixed employment report. Better risk appetite in the marketplace, as well as a strengthening greenback the past four weeks, have been bearish elements for the […]
EUR/USD Falling Wedge At 23.6% Fib Indicates Potential Bullish Reversal
EUR/USD 4 hour The EUR/USD is building a falling wedge chart pattern (blue/orange lines), which could indicate a bullish reversal. A bearish breakout below support (blue) and the 23.6% Fibonacci level of wave 4 (blue) could see price fall towards the 38.2% Fibonacci level near 1.15 whereas a bullish breakout could see price test the […]
Cable Remains Bearish Despite Bounce
The recent euphoria for the British pound driven by hawkish commentary and statements from BOE governor Carney has all but dissipated, and like the proverbial souffle, has virtually collapsed, with the pair now taking on a very bearish tone, and reflected on the currency strength indicator to the left on the daily timeframe. Here we […]
Fed Rate Hike Prospects Focus The S&P 500 In Week 1 Of October 2017
The first week of October 2017 saw the S&P 500 (Index: INX) reach daily new highs each day through Thursday, before slightly dipping by 2.74 points (0.1%) to close the week at 2,549.33. Since we had it set up to cover Week 1 of October 2017, let’s take one last look at our chart showing the […]
