EUR/USD And GBP/USD Forecast – Friday, Oct. 20
EUR/USD The EUR/USD pair broke out during the trading session on Thursday, slicing above the 1.18 level above. By doing so, we triggered a buy signal based upon hammers from the previous 2 sessions, and that means that the market will probably go looking towards the 1.19 level, and then possibly the 1.20 level. I […]
Morning Call For Friday, Oct. 20
OVERNIGHT MARKETS AND NEWS Dec E-mini S&Ps (ESZ17 +0.21%) this morning are up +0.23% at a new record high on optimism that the Trump administration will be able to enact its tax reform plans after the Senate adopted a fiscal 2018 budget resolution by a 51-49 vote. Final approval of the measure will enable a […]
With European Sentiment Up, Market Cap Focus Should Be Down
The first three quarters of 2017 have started to see the long-awaited passing of the baton from U.S. markets to overseas markets. Year-to-date through September 30, the MSCI Europe, Japan and EM Indexes all outpaced the S&P 500.1 Given the younger ages of their respective rallies (consider this: if the U.S. bull market that was born in March 2009 were a person, it would […]
Weekend Reading: 24000 By Christmas?
This past week, the Dow crested 23000 sending the networks into a “tizzy.” It took about 5-minutes of crossing that magical “round number,” before questions raised of how long before the markets cross 24,000, and 25,000. The chart below shows the 1000-point milestones of the Dow going back to 2009. After a long break between 18,000 and 19,000 in […]
General Electric Plunges 5% After Slashing Guidance
While it may not have slashed its dividend, yet, General Electric shares plunged 5% in the pre-market after the company cut its 2017 profit forecast while its new CEO grapples with one of the deepest slumps in the iconic US manufacturer’s history. The company reported that adjusted earnings this year are expected to be only […]
Seattle Genetics Upgraded To Overweight From Equal Weight At Barclays
Barclays analyst Geoff Meacham upgraded Seattle Genetics (SGEN) to Overweight and raised his price target for the shares to $70 from $60. The biotechnology company closed yesterday up 33c to $64.01. The analyst has increased conviction in the company’s Echelon-1 study, which is evaluating Adectris as part of a frontline combination chemotherapy regimen in 1,334 […]
Chinese Economy And Gold
In the 2015 October edition of the Market Overview, we analyzed the impact of the Chinese slowdown, as well as the stock market crash and the devaluation of yuan, on the gold market. Two years later, it is worth providing investors with an update about the second biggest economy in the world, especially since the 19th […]
Why Tax Cuts Are Such A Heavy Lift
The Senate has passed its version of the annual budget resolution, which would permit a simple majority to pass a $1.5 trillion 10-year tax cut. That’s a modest amount—only about three-quarters of a percent of GDP—and factoring in some revenue gains from increased economic growth, it would increase the budget deficit by no more than one-fifth—likely […]
Sugar Or No Sugar With Your Coffee?
Good day to all and happy Friday… Today, I enjoy my coffee with a bullish attitude as I am expecting prices to bottom and turn around from 122-123 upwards. #COFFEE #KC one more new low with a new divergence in the RSI would be a nice buy setup pic.twitter.com/ihgTa2j9qd — Alexandros Yfantis (@alexanderYf) October 13, […]
WTI Crude Oil And Natural Gas Forecast – Friday, Oct. 20
WTI Crude Oil The WTI Crude Oil market fell during the day on Thursday, reaching towards the $51 level. There is a significant amount of support below though, so even if we pull back from here, I suspect that the buyers will come back rather soon. With this being said, I think it’s only a […]
