Leading Indicator Double Topping Going Into May
Many times over the years, what the stock markets do in Germany and Europe, impacts stocks in the states. Several times Germany has been a leading indicator in bull and bear moves, ahead of what take place in the S&P 500. Below looks that the DAX index over the past decade and the important pattern […]
Theresa May Calls Snap Election In UK After Getting Sick Of “Game-Playing
Well, you knew this was going to be something dramatic right from the start. Just check out the buildup: U.K. PM Theresa May Making Statement at 11:15am Local Time: BBC GBP/USD REVERSES GAIN, DROPS BELOW $1.2550 BEFORE MAY STATEMENT U.K. 10-YR GILT YIELDS EXTEND DROP TO 3BPS BEFORE MAY STATEMENT U.K. 10-YEAR YIELD DROPS BELOW […]
Day Trading Stock Picks For This Week – Tuesday, April 18
Fairmount Santrol Holdings (FMSA) Average day range (30) is 7.44% and average volume (30) is 6.6 million. Cliffs Natural Resources (CLF) Average day range (30) is 5.79% and average volume (30) is 15.8million. AK Steel (AKS) Average day range (30) is 5.52% and average volume (30) is 17.6 million. Community Health Systems (CYH) Average day […]
Deutsche Bank: “Early UK Elections Are A Gamechanger; We Are Closing Our Bearish GBP Trades”
This morning’s shocking announcement caught virtually everybody by surprise, and is prompting one bank after another to thoroughly revise their cable forecasts, case in point Deutsche Bank, whose strategist George Saravelos just announced he is changing his view on sterling because the “early elections are a game-changer”, something which the market clearly anticipated judging by […]
US Sector Showcase: “High” Tech Stocks In More Ways Than One!
Remember the so-called “Trump Trade”? Both in terms of political developments and price action, it seems like November 8th was about a half-decade ago, not just five months ago. When it comes to the stock market, traders rushed out to buy industrial, material and financial stocks, while selling health care and technology stocks. The bearish health […]
GBP/USD: Sterling Squeezes Higher On Surprise Election Announcement
The big news on the morning highlights yet another geopolitical pressure point as British PM, Theresa May, announced that she is calling for early general elections in the U.K. with a vote to be held on June the 8th. Given Prime Minister May’s considerable advantage seen in polling numbers, this can be seen as a potential […]
Harley-Davidson, Inc. Shares Plummet Amid Mixed Q1 Earnings, Weak Outlook
Harley-Davidson Inc. (NYSE: HOG) early Tuesday posted mixed first quarter earnings results and offered a tepid shipment forecast for the second quarter, sending its shares plunging in premarket trading.
Euro Remains Waterlogged But Testing A Key Level
And finally to the euro index which continues to wallow in a sea of misery, as both politics and fundamental news continue to batter and buffet the single currency on a daily basis. The latest political news to impact the euro is this morning’s surprise announcement of a snap general election in the UK in […]
Housing Starts Drop Most In 4 Months; Single-Family Starts Collapse In The Midwest
Another mixed picture from housing data following the roll-over in homebuilder sentiment last week. Housing Starts dropped 6.8% MoM in March to 1.215mm SAAR – the lowest since Nov 2016. The biggest driver was a 16% plunge in starts in The West and Midwest (35% plunge in Midwest single-family starts). Starts decline in both single- and […]
Hey! I Know May Stole The Show But Don’t Forget Iron Ore Is Collapsing
Well, needless to say, Theresa May stole the overseas spotlight this morning when, just after 6 am EST, she called for snap elections in the UK. That triggered a knee-jerk move higher in GBP/USD and a concurrent jump in gilt yields: But it was a sharp move lower in iron ore that weighed on risk sentiment […]
