Some of our pressing current challenges seem self-inflicted. The UK decision to leave the EU was not compelled by external circumstances. A non-binding referendum that won by 52% to 48% was taken to be a binding decision to break a 45-year old treaty. From before the end of WWII through 2016, the US sought to create…
USD/JPY 4 hour The USD/JPY is in a mild bullish channel which is testing key Fibonacci resistance levels. These Fib levels are a key break or bounce spot: a bullish break makes a wave 4 unlikely whereas a bearish break could indicate a continuation of the downtrend. The bullish pressure could see price make one…
We are now all good and focused on the fact that inflation is headed higher. As I’ve pointed out before, part of this is an illusion of motion caused by base effects: not just cell phones, but various other effects that caused measured inflation in the US to appear lower than the underlying trend because…
Economic activity as measured by IHS Markit’s Purchase Managers Index showed a broad-based decline across the manufacturing, construction and services sector in the UK during the month of March. Combined, the ‘all sector PMI’ that measures all three sectors was seen sliding to a 20-month low in the month of March and including weaker pace…
I recently ran across a terrific chart in Grant’s Interest Rate Observer that got me thinking about Hyman Minsky and The Financial Instability Hypothesis. After remaining relatively unknown during the course of his lifetime, Minsky really came to fame in the immediate aftermath of the financial crisis as his hypothesis helped to explain what left most economists baffled:…
WTI Crude Oil The WTI Crude Oil market initially pulled back during trading on Thursday but found enough support near the $66 level to turn around and form a bit of a hammer. The hammer, of course, is a very bullish sign, and the fact that we are starting to rally from the $66 level…
Whether its Bank of America imposing a $12 fee on a popular low-budget checking account or Wells Fargo fraudulently opening fake accounts in their clients name and proceed to billing them – all without their knowledge – American consumers have every reason to be frustrated with the big retail banks. Which is one reason why Silicon…
Asian share markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.5% while the Hang Seng is down 0.4%. The Shanghai Composite is trading down by 0.5%. US stocks rose sharply on Thursday after President Donald Trump clarified his position on a possible missile attack in Syria, while bank shares popped ahead of…
Welcome to the third installment of the Road to Mastery Series, and you can read previous installments here. In the last installment we established that the quantitative elements are the businesses numerical data, which are found in: The cash flow statement The balance sheet The income statement The equity statement And in addition, the company’s annual…
So, the weekend is ahead. Will the bulls remain tentative?
