Gold Prices Rise As Hurricane Harvey, North Korea Upset Markets
Gold prices rose as risk appetite soured, sending capital fleeing for the safety of Treasury bonds and pushing yields downward. The downbeat mood echoed in Fed rate hike bets, flattening the projected policy bath and sending the US Dollar lower. Taken together, it seems hardly surprising that this amounted to a supportive environment for anti-fiat and non-interest-bearing assets. […]
GLD… Break Out Day
Below is a short term daily chart for GLD which shows it breaking out above the top rail of the blue expanding triangle today. The longer term 2-year daily chart shows GLD breaking out and backtesting the top rail of the triangle consolidation pattern. It looks like all the work is now finished with the […]
What? No EURUSD Parity Now?
I miss the days at 1.04-1.05 when EVERYONE was screaming parity and 0.90 for the EURUSD. It seems so far in the past right now with just a few pips away from 1.20. Now that everyone is bullish again, I say it is time to tighten our stops and be cautious. The EURUSD has been […]
Sensex Opens 130 Points Lower; NTPC Slips 3.3%
Majority of Asian stock indices are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.61% while the Hang Seng is down 0.49%. The Shanghai Composite is trading up by 0.06%. US stocks displayed a lackluster performance on Monday with the S&P 500 and Nasdaq ending with nominal gains and the Dow slipping in the negative terrain. Back home, share markets in India have […]
Stocks To Watch: BC, KMT, CTLT
Today’s stock picks Short Brunswick (BC) Short Kennametal (KMT) Long Catalent (CTLT)
The Weekend Walk Through
Were you prepared for this action today? At chartfreak, we have been selectively buying Miners and other commodity stocks for weeks, and discussing the bullishness in this sector, despite many articles expressing concern over it. I’m opening up the weekend report, because we have been expecting this break out in Gold for weeks now. I […]
Kospi, Nikkei Fall As Market Ponders Whether They’ll Be A Tomorrow Or Not
Ok, so just a quick update as everyone tries to sort out exactly what the hell happened a couple of hours ago when the second-most unhinged leader on the planet decided to fire a missile over Japan. Bloomberg notes that Japan CDS is leaking wider: JAPAN CDS 1-2BPS WIDER AT 43.5BPS AFTER NORTH KOREA MISSILE […]
EURUSD Daily Analysis – Tuesday, Aug 29
EURUSD remains in the uptrend from 1.1662. Further rise could be expected in a couple of days and next target would be at 1.2165 area. Near term support is at 1.1900, as long as this level holds, the uptrend will continue. Key support is at the bullish trend line on the 4-hour chart, only a clear […]
Goldman Says Hurricane Harvey Will Reduce Q3 GDP; JPMorgan Says It Will Boost It
There are still two to three days before the peak flooding – and damage – in Houston arrives, yet already Wall Street is trying to calculate how much the worst natural disaster in decades befalling the 4th largest American city will impact US GDP. Or rather boost it, because in two notes out late in […]
