Morning Call For Thursday, April 20
OVERNIGHT MARKETS AND NEWS Jun E-mini S&Ps (ESM17 +0.28%) this morning are up +0.28% and European stocks are up +0.34% as a rebound in crude oil prices from Wednesday’s 2-week low boosts energy producing stocks. May WTI crude oil (CLK17 +0.89%) is up +0.97% on optimism that OPEC will extend its crude production cuts past June. Oman’s […]
A Couple Gold Ratios And Their Messages
The Palladium-Gold ratio (weekly) has furthered the scenario that it could be starting a new ‘Chop & Grind’ phase like the one that preceded 2015’s market top (that wasn’t); i.e. the market disturbances that manifested in 2015. To be sure, Pall-Gold is not broken and we are on a positive signal, but nothing in these […]
More Uncertainty As Investors Await Quarterly Earnings Releases
Briefly: In our opinion, speculative short positions are favored (with stop-loss at 2,410, and profit target at 2,200, S&P 500 index). Our intraday outlook is bearish, and our short-term outlook is bearish. Our medium-term outlook remains neutral, following S&P 500 index breakout above last year’s all-time high: Intraday outlook (next 24 hours): bearish Short-term outlook (next […]
Sensex Closes Higher; Realty Stocks Outperform
Indian share markets finished the volatile trading session in the green zone with Midcaps and Smallcaps indices leading the rally. At the closing bell, the BSE Sensex closed higher by 86 points, whereas the NSE Nifty finished higher by 33 points. The S&P BSE Midcap ended up by 0.7% while the S&P BSE Small Cap Index ended up by 1.1%. Among the BSE sectoral […]
Why Bonds Aren’t Overvalued
Doug Kass wrote a very interesting piece this week on the bond market: “As overvalued as I believe the U.S. stock market may be, fixed-income instruments may be even more overvalued. Yesterday the 10-year note was yielding 2.21% — the lowest yield since last Nov. 11 — and the long bond’s yield is down to […]
Canadian Banks Are Your Friends
About a month ago, TD Bank (TD.TO)(TD) was caught doing naughty things. They have been accused of pushing employees selling products clients don’t really need A bank pushing product sales? Nah, never gonna happen, right? To be honest, I laughed when I read that news. Many journalists jumped on this story and explain the world all banks […]
Is The Recent Divergence Between Soft And Hard Data Unusual?
Judging by media, blogosphere, and Wall Street reports in recent weeks, it’s tempting to assume that the so-called soft economic data – surveys of spending plans, expectations, etc. – have become disconnected from reality, defined by the hard data, such as payrolls, sales, and production. Morgan Stanley, for example, recently advised that “there is a record gap […]
Technical Levels For Majors And Crosses – Post Easter Edition
Markets are back from the Easter holidays and they are in full swing, with the pound standing out. What levels should we look out for? The two videos below discuss lines of support and resistance for both majors and crosses: Technical levels for major pairs – ahead of the French elections. Lines of support and […]
HelloPay To Be Rebranded Into Alipay Following HelloPay, Ant Financial Merger
HelloPay Group, which runs the helloPay payment platform on online shopping and selling site Lazada, and Ant Financial Services Group, parent company of Alipay, a mobile and online payment platform in China, jointly announced a merger between helloPay Group and Ant Financial. Because of this merger, helloPay will be rebranded as Alipay Singapore, Alipay Malaysia, […]
Europe And S&P Futures Higher, Dollar Drops As OPEC Talks Oil Up
European stocks rose amid earnings beats, offsetting weakness in the energy sector and easing investor concerns ahead of the weekend’s French election. Asian shares and U.S. futures also rise. The dollar weakens against the euro and most crosses, while crude oil rebounds following renewed OPEC chatter of a production cut, this time with Saudi Arabia […]
