EUR/USD Breaks Resistance And Continues Retracement To 1.0750
EUR/USD 4 hour The EUR/USD broke above the resistance trend line (dotted red) as expected which could signal a larger retracement within wave 2 (brown). Price could head back to 1.0750-1.0775 at the 50-61.8% Fibonacci levels. 1 hour The EUR/USD break above the resistance trend line (dotted orange) which could trigger the development of an […]
Dead Cat Bounce Trade
Bear trap in the form of a dead cat bounce Yesterday proved that trying to play the short side of this market so far this month and not aggressively taking gains along the way was a futile approach. With just yesterday’s dead cat bounce, the market managed to wipe out a majority of the losses […]
Factory Output Tumbles In March – This Has Never Happened Outside Of Recession
US Industrial Production peaked in November 2014 and remains down almost 2% from those record highs (despite surging stocks). This has never happened without the US economy being in recession in history. While Industrial production headlines met expectations, factory output for March plunged 0.4% – the biggest drop since Feb 2015. Still who needs ‘production’ when we have Snapchat […]
Gold Shines On The Weekly Chart
If the latter part of 2016 was one to forget for gold bugs, the start of 2017 has certainly been one to remember with the precious metal finally finding some much needed bullish momentum. The recovery in gold, which has seen it move off the lows late 2016 and the $1130 per ounce area to […]
GNC Holdings (GNC) Beats Q1 Earnings & Revenues Estimates
GNC Holdings, Inc. (GNC – Free Report) is a leading global specialty retailer of health, wellness and performance products, including vitamins, minerals and herbal supplement products (“VMHS”), sports nutrition products and diet products. The company has a worldwide network of more than 8,900 locations. Currently, GNC Holdings has a Zacks Rank #5 (Strong Sell) but that could […]
E CAD/JPY Could Face Limited Downside
CAD/JPY can be trading in the final stage of an ending diagonal, with price particularly trading in final sub-wave C of 5). As such a significant turning point higher may be around the Fibonacci ratio of 261.8 level, from where a five wave rally would signal more gains to follow. CADJPY, 1H
5 Strong Buy Stocks To Track This Earnings Season
Earnings season has commenced again. And investors tracking specific stocks will be keenly monitoring whether select stocks outperform or underperform consensus estimates for Q1 2017. In general, the mood is optimistic: “Revenue and earnings are expected to trend upwards,” wrote Terry Sandven, US Bank Wealth Management chief equity strategist. “We continue to look for equities to […]
W.W. Grainger, Inc. Slashes Outlook As Q1 Earnings Miss Badly
W.W. Grainger, Inc. (NYSE:GWW) early Tuesday posted weaker than expected first quarter earnings results and slashed its full-year outlook, as it’s been forced to cut prices on various items in order to better compete in a tough business landscape.
Cardinal Health To Acquire Patient Product Portfolio From Medtronic For $6.1B
Cardinal Health (CAH) announced that it has entered into a definitive agreement to acquire Medtronic’s (MDT) Patient Care, Deep Vein Thrombosis and Nutritional Insufficiency businesses for $6.1B in cash. The purchase price does not include cash tax benefits of at least $100M. The acquisition is expected to be financed with a combination of $4.5B in […]
March 2017 Residential Building Improves
The headline residential building permits improved. Our analysis agrees. Analyst Opinion of Residential Building The backward revisions this month were slight.The nature of this industry normally has large variations from month to month so the rolling averages are the best way to view this series – and it shows permits growing, and completions also growing. […]
