GBPUSD: Having reversed its Tuesday losses to break further higher during Wednesday trading session, GBPUSD targets additional strength towards the 1.4559 level. Support lies at the 1.4450 level where a break will turn attention to the 1.4400 level. Further down, support lies at the 1.4350 level. Below here will set the stage for more weakness…
OVERNIGHT MARKETS AND NEWS March E-mini S&Ps (ESH16 +0.26%) are up +0.20% as stock index futures track crude oil prices (CLH16 +1.84%) which are up +1.67%. European stocks are down -0.93% at a 1-1/2 week low as losses in Italian banks lead the market lower. The cost of insuring corporate debt in Europe rose as…
While the biggest news of the night had nothing to do with either oil or China, all that mattered to US equity futures trading also was oil and China, and since WTI managed to rebound modestly from their biggest 2-day drop in years, continuing the trend of unprecedented, HFT-driven volatility which has far surpassed that…
The top mid cap sectors are utilities and consumer goods. Packaging & containers is the best scoring industry. The average mid cap score is 55.76 and that’s above the four week moving average score of 52.86. The average mid cap stock in our universe is trading -30.36% below its 52 week high, -10.88% below its…
Oil price slid below $30 mark again in New York yesterday as weekly data from the American Petroleum Institute showed a 3.8 million barrel stock build. This abundant supply contrasted with recent mixed manufacturing gauges in China and Eurozone. The figure also matched expected inventories for official data by U.S. Department of Energy tomorrow. Volatility returned just…
Warren Buffett is worth over $60 billion. He knows a thing or two about investing. True geniuses tend to make things simpler, not more confusing. Buffett is no exception. Buffett simplifies investing down to the following: “All there is to investing is picking good stocks at good times and staying with them as long as they remain…
Soligenix (SNGX) pursues several treatments for rare diseases and other critical problems. It is always intriguing to watch new drugs develop in the hope they can make life easier for pain sufferers. The management team has the requisite background in drug development to make this company worthy of serious analysis. The company’s SGX942 drug for oral…
The U.S. economy is likely to dodge a recession but good jobs will remain hard to find. The global economy is slowing, because the EU, Japan, China and other emerging economies can’t execute long overdue reforms. Burdened by debt and excess industrial capacity, most seem bent on cheapening their currencies through a combination of capital controls and monetary policies that drive interest rates…
This was not supposed to happen. None other than The U.S. Federal Reserve Bank of Dallas, in a research paper released in January, said that A drop in oil prices brought about by rising supply — like the current one — should boost global growth by up to 0.4 percentage points. “This is mainly due to an…
As you may long know, T2108 is one of my favorite indicators. And that is saying something, considering that I really don’t much like indicators. But the T2108 is a great way of measuring the collective behavior and state of stocks across the board. With the T2108 you measure the percentage of stocks trading above…
