Today, the Dow Jones Industrial Average hit a high of 24,534.04. Not quite at my terror point, but close. The last time I used the analogy from the Twilight Zone episode when William Shatner sees a gremlin on the wing of the airplane he’s flying in, was when the Dow tried for 18,000. In 2015,…
The Reserve Bank of Australia’s (RBA) last interest rate decision for 2017 may shake up the near-term outlook for AUD/USD should the central bank prepare households and businesses for higher borrowing costs. The RBA is likely to reiterate that ‘holding the stance of monetary policy unchanged would be consistent with sustainable growth in the economy and achieving…
After Friday’s sell-and-recovery it had looked like there was an opportunity to play a bounce, particularly for the Semiconductor Index. However, the reality proved to be different. Instead, sellers maintained the run of form from Friday and pushed the Semiconductor Index right down to Friday’s low – undercutting the 50-day MA in the process. Monday’s…
The Top 10 of the Ranking and Rating list for the coming week shows the following stronger currencies being well represented for going long: the EUR(4X) with the GBP(4X). The weaker currencies are the NZD(4X) followed by the AUD(2X), JPY(2X) and USD(2X). By diversifying a nice combination can be traded in the coming weeklike e.g.: EUR/NZD…
DOW + 58 = 24,290 (Record) SPX – 2 = 2639 NAS – 72 = 6775 RUT – 11 = 1532 10 Y + .02 = 2.38% OIL – .91 = 57.45 GOLD – 4.00 = 1276.70 Cryptocurrency Number of Currencies: 1,362 Total Market Cap: 1,362 Volume (24h): $13,255,090,001 1,362 Name Symbol Price USD Market Cap Volume…
Tax Bill Timeline Monday’s market trading was affected by the changes in tax policy, once again, with the Dow underperforming the Nasdaq. Let’s first look at the timeline of the legislative process. The bill has gotten through the critical steps of passing the House and the Senate, but since both bodies passed different bills, there needs…
There is no absurdity so palpable but that it may be firmly planted in the human head if you only begin to inculcate it before the age of five, by constantly repeating it with an air of great solemnity.- Arthur Schopenhauer Gold bottomed in 2002, and it took nine years for its trade to a…
India’s GDP grew 6.3% annually year over year in the July-September quarter of 2017, missing expectations of 6.4%, per a Bloomberg survey. However, it rebounded from 5.7% growth in the previous quarter, which was a three-year low, owing to headwinds related to Modi’s demonetization move in November and the introduction of a major tax reform…
Natural gas prices declined another 2.5% today after gapping up modestly last evening. Prices lingered up into this morning before a wave of morning sellers hit prices hard, and we were unable to recover losses through the trading day, settling just a couple cents off the lows. Cash prices were not quite as pressured, actually…
SPX Monitoring purposes; Neutral Monitoring purposes Gold: Short GDX on 11/13/17 at 22.56 Long-Term Trend monitor purposes: Neutral. Today, the SPY touched another high and HYG made a lower close producing a five-day divergence. The 21-day moving average of the Equity Put/Call ratio fell below .62 and in an area where the market had trouble…
