DAX 30 Recuperates Its Losses Following The Attacks On Brussels
The DAX 30 (FXCM: GER30) is trading near levels seen on Monday and has recuperated its losses following yesterday’s attacks on Brussels. The technical trend is a bullish one since mid-February and the trend defining level is the March 10 low of 9397. The next resistance level is the January 13 high of 10,166 and on a successful breach to this high, the next high inline, the January […]
Gold Has Signaled A Failed Daily Cycle
Gold has signaled a failed daily cycle. It should now be starting a completely natural move down into an intermediate cycle low over the next 5-6 weeks. I expect the move will be tortuous and difficult for both bulls and bears. Gold is now in a new bull market. Don’t expect the declines to behave […]
E Brussels Attacks Move Across The Board
On Monday, the British pound lost further ground for the greenback (USD), pushing the GBP/USD major into daily lows near the 1.4370 handle. The pair is trading defensively in a market dominated by a major offer in riskier assets and a drop in the USD bid tone across the board. Last week’s surge has not […]
Wednesday Twofer
A twofer with this post. First is an update on the market which has been dancing back and forth around its 200 day moving average (DMA). I said back in August that I thought a bear market had started and I still believe that to be the case. To the extent bear markets start slowly, […]
Oil Drops To $40 Handle After IEA Warns Production Freeze Is “Meaningless”
It appears The IEA has come to the same reasoning as we have been pointing out for weeks – “freezing” production at what is already the highest output levels ever is “meaninglesss.” As Reuters reports, Saudi Arabia is the only country with the ability to increase output, a senior executive from the International Energy Agency (IEA) said on Wednesday. […]
The Stock Whisper Of The Day: UNG, MON, INTC
Hot stocks of the day: UNG, MON, INTC, /UG Video length: 00:05:34
Credit Suisse Blames “Worst January Ever” On Rogue Traders; Fires 2,000
When last we checked in on Credit Suisse (CS), things weren’t going so well. The bank had just reported a $6 billion loss – in the fourth quarter. The red ink for 2015 totaled some $3 billion, representing the firm’s first annual loss since the financial crisis. Shares promptly plunged 13% to their lowest level in nearly a quarter […]
U-Turn For Metals
As fear has made a swift exit from the market, the flight-to-safety trade has likewise disappeared. Look no further than gold for evidence of this, as gold gets monkey-spanked this morning: I’m delighted to see gold weak, because I’d like to get long at the right price. To my way of thinking, the “right […]
Bullet Report – Gold Selloff Despite Brussels Attack
Gold was the biggest mover overnight. Yellow metal jumped to $1259 following the Brussels attack, but it retraced to $1231 overnight as the USD strength and rising stock markets caused investors to sell it off. Trading Central Preference: short positions below 1249.00 with targets @ 1225.00 & 1220.00 in extension. GBP/USD was also dumped […]
