EUR/USD Forecast Nov. 13-17, 2017
EUR/USD managed to tick up amid OK data from Europe and weakness in the US dollar. GDP data stands out in a busier week. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD. German factory orders beat expectations while industrial output dropped by more than had been anticipated. The […]
Gold Slammed After Someone Pukes $4 Billion Notional In Gold Futures
As we approach the European close, the dollar index just spiked and precious metals (and crude) were pummeled. Gold futures tumbled on massive volume as over $4 billion notional was purged instantaneously… Over 30,000 contracts ripped through gold futures – over $4.2 billion notional – in the space of a minute. That’s around 10% of a […]
A Weekly Technical Perspective On DXY, AUD/USD, USD/CAD & Crude
In this series we scale-back and take a look at the broader technical picture to gain a bit more perspective on where we are in trend. We looked at a few of these charts in this week’s Strategy Webinar and heading into next week, here are the key levels to consider. DXY Weekly Chart Notes: The index has […]
Natural Gas In Danger Of Pullback Towards 3.01
Natural Gas is trading around 3.20 in an upward sloping wedge pattern. I will be bearish NG if we see the wedge pattern being broken downwards. The RSI has been diverging since 3.14 top was made. I believe that although the longer-term trend might be to the upside, NG should pull back towards 4 hour […]
Senate Tax Plan And Gold
Yesterday, the U.S. Senate tax cut plan was unveiled. What does it mean for the gold market? As we wrote on Thursday, the results of the 2017 U.S. one-off elections triggered some uncertainty about the tax reform prospects. The investors’ hopes were further reduced yesterday, as the U.S. Senate tax-cut bill was unveiled. As the proposal […]
Stocks Tried To Lie To Jeff Gundlach – And You Can’t Lie To Jeff Gundlach
Look, we’ve been over this before and we’ll go over it as many times at it takes for people to understand it: there is a national (and probably international) conspiracy against DoubleLine boss (and man who took Twitter lessons from Donald Trump) Jeff Gundlach. Like all good conspiracies, it’s not 100% clear what everyone’s motives […]
The End Of Shale: Onshore Production Growth Collapses
Last year, a blog post on the IMF Blog claimed that the oil market was facing a “new normal” as “shale oil production has permanently added to supply at lower prices” and going forward “demand will be curtailed by slower growth in emerging markets and global efforts to cut down on carbon emissions.” This wasn’t the first […]
Staying Nimble In This Market
My Swing Trading Approach Staying nimble in this market. The market is suddenly prone to large intraday swings, being flexible in this market will remain key. Indicators VIX – Was up as much as 24% at one point yesterday, finished only 7.4% at 10.50. T2108 (% of stocks trading below their 40-day moving average): Only 48% of […]
Bitcoin Bluster
I don’t chime in about Bitcoin since I’ve never touched it and have no business contributing to something I know so little about (although I suspect there are plenty who do anyway). But a couple of days ago, I sent out this innocent tweet… I usually don’t get much in the way of replies, but […]
J. C. Penney (JCP) Q3 Loss Narrows, Comps Gain, Stock Up
J. C. Penney Company, Inc. (JCP – Free Report) reported third-quarter fiscal 2017 adjusted loss per share of 33 cents that fared better than the prior-year quarter loss of 21 cents. In the trailing four quarters (excluding the quarter under review), the company’s bottom line had outperformed the Zacks Consensus Estimate by an average of 21.7%. Revenues: J. C. […]
