JPM Elliott Wave Bullish Structure
The Elliott Wave view for JPMorgan Chase (NYSE: JPM) suggests the rally from February 2016 low (52.5) to 03/01/2017 peak (93.98) have ended wave (3). The pullback from there unfolded as zigzag ABC structure which ended wave (4) at 06/01/2017 low (81.79). Up from there, the stock rallied in another zigzag structure before ending that short term cycle after reaching extreme on […]
Jump In Investor Bullish Sentiment But Remains Below Long Run Average
Yesterday, the American Association of Individual Investors released their Sentiment Survey results for the week ending 7/19/2017. These results show individual investors’ bullish sentiment increased 7.3 percentage points to 35.5%. This is the highest reading since early May when bullish sentiment was reported at 38.1%. This jump in bullish sentiment still has the level below the long […]
3 Key Predictions For Microsoft’s Q4 Earnings Report
Shares of Microsoft (MSFT – Free Report) climbed nearly 1% higher to touch a new 52-week high on Wednesday, just one trading period before the software behemoth is set to release its pivotal fourth-quarter earnings report. Over the past several years, global demand for personal computers—and related software—has plummeted. This put Microsoft in a tricky situation; the […]
ECB Preview: EUR/USD Rally To Unravel On Wait-And-See Approach
– European Central Bank (ECB) to Preserve Zero-Interest Rate Policy (ZIRP). – Will the Governing Council Start to Taper the Asset-Purchase Program? The European Central Bank (ECB) interest rate decision may initially trigger a bearish reaction in EUR/USD as President Mario Draghi is widely expected to retain the highly accommodative policy stance. Why Is This Event Important: With the ECB in […]
Bank Of Japan Leaves Policy Unchanged As Expected – Admits Defeat On Deflation
Japan’s long and sordid dance with unconventional monetary policy continues. With most analysts expecting a ‘nothingburger’ from Kuroda (though some hinting at the potential for shock-and-awe), The BOJ delivered… nothing – no change. However, most critically, the BOJ admitted defeat of deflation and delayed the timing of reaching their 2% inflation goal to around FY2019. No change to […]
Tesla Initiated With A Neutral At Citi
Citi analyst Itay Michael started Tesla shares with a Neutral rating and $357 price target. The shares closed yesterday down $2.98 to $325.26. The analyst is positive on Tesla’s position as the “car of the future leader,” and thinks upside from current levels could “still be significant,” but he prefers to wait for a better […]
E Around The World Consumers Are Becoming More Optimistic
Among the advanced economies slow and steady growth has been accompanied by noticeable improvements in consumer confidence. The aggregate confidence indexes for a broad number of OECD and non-OECD countries are roughly back to former, pre-recession highs. In March, the U.S. consumer confidence index rose to its highest level in 16 years. The large economies […]
Trading The ECB With EUR/USD – 3 Opinions
The European Central Bank convenes today and would like to refrain from rocking the boat. In our preview, we discussed a potential desire by Draghi to drag the euro down. Can he do that? Here are previews from three banks, taking different approaches to trading the event with EUR/USD. Here is their view, courtesy of eFXnews: […]
DXY Elliott Wave View: Bounce In Progress
Short term DXY (USD Index) Elliott Wave view suggests the decline from 6/20 peak (97.87) is unfolding as a Zigzag Elliott Wave structure. Down from 97.87 high, decline to 95.47 ended Minor wave A, and bounce to 96.51 high ended Minor wave B. Wave C is unfolding as an Elliott wave Impulse structure with extension where Minute wave ((i)) ended […]
ECB Game Day
The US dollar is enjoying a firmer tone against the major currencies today. It does not appear to be simply position adjustments ahead of the ECB meeting. Consider that Australia reported strong employment data, and after making new highs, reaching almost $0.8000, it has reversed to toy with yesterday’s low. A convincing break of that […]
