If you thought the aussie was done rallying, you were wrong. Because we got the RBA minutes and the market is laser-focused on the comments about growth – or at least that’s what it looks like from where I’m sitting. Specifically, the RBA said quarterly economic growth likely rose in 2Q and added that recent labor…
The US Dollar faced heavy selling pressure in Asian trade after two more Republican Senators withdrew support from the healthcare reform bill supported by the White House, robbing it of the votes needed for passage. The initiative’s failure seemed to cast doubt on the administration’s general ability to turn campaign promises into policy. This sapped hopes of seeing…
Tech has been one of this year’s top performing sectors so it shouldn’t be surprising that the year’s top performing fund is tech-focused. The ARK Innovation ETF (ARKK) may not be a household name yet but its ability to pick the right stocks at the right time this year is about to put it on quite a…
EUR/USD 4 hour The EUR/USD uptrend is ready to continue higher now that price has broken above the resistance trend line (dotted red) and 1.15 round level. The bullish breakout confirms the continuation of the wave 3 (green). 1 hour The EUR/USD is most likely building a wave 3 (orange) momentum. Within the 3rd wave price…
After opening the day on a negative note, the Indian share markets witnessed further losses and went on to trade in the red. Sectoral indices are trading on a negative note with stocks from the FMCG sector and the energy sector witnessing maximum selling pressure. The BSE Sensex is trading down 247 points (down 0.8%) and the NSE Nifty is trading down 55 points (down…
Investors piled $2.7 billion into QQQ (the benchmark ETF tracking the Nasdaq 100 Index) in the five days through July 14 as shares in the fund posted their biggest advance this year. As Bloomberg notes, the biggest weekly inflow since September 2010 came as the tech-heavy index – with megacaps Apple, Amazon, Facebook, and Alphabet among its…
Real Estate Investment Trusts are popular investments among income investors, for obvious reasons. They are required to pass along the vast majority of their earnings in order to retain a favorable tax structure, which results in some eye-popping yields across the REIT asset class. For example, Whitestone REIT (WSR) has a 9% dividend yield, which…
AUD/USD was capped by the April 2016 high of 0.7840 and formed a double top. This did not last too long. A double-whammy of events sent the pair shooting higher. The pair is at the highest level in 26 months. AUD/USD is currently trading at 0.7915 and the high so far has been 0.7923. Will it…
Short term we have started a new Trading or Daily Cycle. The much bigger question is have we also found a 5-6 month Intermediate Cycle Low? That is still an open question. I have Gold on day 4 and GDX on day 5 of their new Trading/Daily Cycles. The weekly view on both shows the…
