E Oil Reached A High
Oil reached a high of $53.80 today and prices should close for the fourth time below the 10-day EMA. I’m entering 25% of my position today with a stop just above today’s high. If prices selloff from here I’ll add to my shorts when there is a clear breakdown in MFI or close below $52.50. […]
EURUSD: Elliott Wave Sequence From February Peak
EURUSD Elliott Wave Sequence from 2/2 peak doesn’t support the idea of 5 wave impulse or even a series of 1,2’s. Decline from 2/2/2017 high to 2/15/2017 low was a 7 swing sequence and the decline from 2/16/2017 to 2/22/2017 low was also a 7 swing decline. This means neither leg down from 2/2/2017 peak was […]
Q1 GDP Expected To Be 1.3%
The stock market was down slightly on Tuesday. Snap (SNAP) stock was down 11% to a 21 handle. While Snap doesn’t have a large market cap, it’s significant because it represents the latest excess of Wall Street. The company has a lock on the attention of teenagers and 20-somethings, but is burning cash quickly. It will […]
Urban Outfitters, Inc. Q4 Earnings Results Meet Estimates On Flat Comps
Urban Outfitters, Inc. (Nasdaq:URBN) late Tuesday [Mar 7, 2017 | 4:09pm ] posted in-line fourth-quarter earnings results, as comparable sales were flat from the year-ago period, as predicted. Written by StockNews.com The Philadelphia-based specialty apparel retailer reported Q4 earnings per share (EPS) of $0.55, which was in-line with the Wall Street consensus estimate of $0.55. […]
Market Talk- March 7th, 2017
The Nikkei continued its two-day slide ending today with just small -0.2% decline. The JPY had one of its tightest trading ranges in awhile even with geopolitics playing out on its doorstep. The talk around Asia remains focused on the FED and implications upon their (Asia’s) markets as they will be closed upon the […]
Bitcoin ETF Approval Odds At 50% As Decision Nears
What was once considered doubtful (by no less than myself) has become at least a coin flip and may actually be more likely than not. I’m talking about the potential SEC approval of the Winklevoss Bitcoin ETF (COIN). I was skeptical of how the SEC might react to volatility in the price of bitcoin, the number of […]
Small Caps Trendline Failure
Hurrah!!! Here’s the Russell 2000….. ……so, naturally, we’re finally making some headway on the ultrashort ETF as well!
Frothy Market Awaits Consolidation And New Catalysts
Last week, in the wake of the President’s address to Congress, stocks rallied hard but ran into a brick wall at Dow 21,000, Nasdaq 5,900, and S&P 500 2,400. For the moment, optimism is high due to solid economic and corporate earnings reports along with the expectation that economic skids will soon be greased by […]
US Credit Card Debt Sees Biggest Drop In Over Four Years
The credit-card fueled spending spree came to a screeching halt in January, when according to the latest just released consumer credit data from the Fed, revolving credit tumbled by $3.8 billion. This was the first decline since February of 2016, and the biggest drop since December 2012. On the other hand, the far more generous […]
