Gold Prices Overbought Into 2017 Highs – Broader Outlook Constructive
Fundamental Forecast for Gold: Bullish Gold at fresh yearly highs- pullback to offer favorable long-entries Gold prices rallied for a third consecutive week with the precious metal up 1.8% to trade at 1349 ahead of the New York close on Friday. The advance comes amid continued weakness in the greenback with the DXY dropping to levels not […]
Florida Utilities Prepare For Irma: 2 Stocks In Focus
Hurricane Irma, which is now a Category 3 storm,has been making its way toward Florida and southeastern United States after wrecking Caribbean Islands. The storm, one of the strongest Atlantic Ocean hurricanes ever recorded, is expected to make U.S. landfall this weekend. NextEra Energy Inc. (NEE – Free Report) : NextEra Energy provides retail and wholesale electricity […]
Exor Shares Not Reflecting The Run-Up In Fiat Chrysler
Exor, the holding company for the Agnelli family in Italy, has seen some major changes to its portfolio in recent years including the sale of commercial real estate broker Cushman and Wakefield and the purchase of reinsurer PartnerRe. The fortune of the Agnelli’s was made through Italian car manufacturer Fiat. Exor still owns 29.2% of […]
Still Hakuna Matata?
If “missing” inflation is the bane of central bankers’ existence in the post-crisis world, it’s simultaneously the best thing that ever happened to risk assets. Investors are starting to figure out that the best of all possible worlds these days is decent or even robust incoming growth data against a backdrop of still subdued inflation. […]
E Market Briefing For Monday, Sept. 11
Capital market bubbles superficially seem relieved by the series of great challenges, tragedies, and natural disasters swirling around but this may be a sort of temporary palliative. Clearly as the measure of Hurricane Irma gets a bit clearer, there should be little doubt that, besides being a ‘budget buster’ of course, it also portends stresses […]
Financial ETF Still Churning After Failed Breakout
I last wrote about the Financial ETF (XLF) on July 11th. Since then, it failed to sustain a brief breakout above the 25.00 major resistance level, as shown on the following Monthly chart. Price is sitting at the bottom of the upper quarter of a long-term uptrending channel…a segment that it hasn’t typically remained in for very long, or ventured above, since […]
CAD Rally: Too Much, Too Soon?
Talking Points: USD/CAD falls to lows seen in May 2015 on Rate Hike Further hikes are being mooted but will the BoC wait? USD weakness is exacerbating the move. Fundamental Forecast for CAD: Neutral We remain neutral on CAD although any further sharp upward moves may open the opportunity to sell CAD against the USD for a short-term reversal. […]
E SPX Consolidates Above Short-term Support.
VIX had an inside week, but closed above Long-term support at 11.37. It is on a weekly buy signal with further confirmation above weekly mid-Cycle resistance at 14.93and the Ending Diagonal trendline near 15.00. Could the initial foray in August have broken the trendline already? (BusinessInsider) The New York Times’ DealBook had a great piece of […]
We’re Just Trying To Feed Our Families” – Equifax Hackers Demand $2.6 Million Ransom In Bitcoin
Two days after credit-monitoring company Equifax revealed that, because of its staggering negligence, hackers had managed to penetrate the company’s meager cybersecurity defenses and abscond with up to 143 million social security numbers and a trove of other personal data – including names, addresses, driver’s license data, birth dates and credit-card numbers – the cyberthieves […]
