Famed technician Louise Yamada at LY Advisors warns that investors have been selling the rallies since the January peak, leading to a descending triangle formation on the chart, which is typically a bearish sign. Here’s some of what she told Financial Sense Newshour listeners on Saturday’s podcast regarding her technical outlook… Rallies Show Weakness Since…
May natural gas prices settled down just a few ticks on the day as heavy selling early was met with buying off the $2.65 support level. Prices recovered the most at the front of the strip, with later contracts generally lagging. The result was a rather significant move upwards in K/M today, indicative of the…
Indian stock markets ended higher on Monday taking cues from their Asian counterparts. The S&P BSE Sensex ended at 33,788, up 162 points while the broader Nifty 50 index settled at 10,379, up 48 points. Among sectoral indices, the Nifty FMCG index ended 1.2% up led by a rise in the shares of Marico and…
It seems the machines never sleep. Before China’s Xi had even uttered a word – in war or peace – Nasdaq futures were ramping up 1% from the cash close and the S&P and Dow following… And once it was clear that Xi was not going to drop another trade war tape bomb, futures extended…
A Mandarin language analysis of Alibaba’s decision to sell its stake in the hugely popular Chinese start-up Meituan states that Meituan was beginning to compete with Alibaba, creating a “shaky” situation. Moreover, Meituan refused to utilize Alibaba’s payment unit, Alipay, hurting Alipay and “clearly annoying” Alibaba CEO Jack Ma in the process, the article asserted. Alibaba sold its 7% stake in Meituan…
Another global bank CEO is given his walking papers. John Cryan’s tenure at Deutsche Bank was unsurprisingly brief. He began it by being realistic. Upon being hired for the top job, Cryan predicted his stay there would, “[depend] on how well we deliver on strategy, impress clients and reduce complexity.” It’s that last one nobody…
During the past month of surging market volatility and spectacular, confidence-sapping rollercoaster moves in the S&P, the one backstop bullish market commentators have used time and again is that Q1 earnings season will be spectacular, an offset to all other bad news. And, indeed, thanks to the passage of Trump’s corporate tax cuts in late…
Since the BTFD crowd and “it’s still a bull market” imbeciles were after me today, I thought this would be appropriate………….. As we move deeper into the year 2018, and as the market slips lower, I am increasingly confident that the gargantuan bull market that started on March 6 2009 ended on January 26 2018. We…
AveXis (AVXS) soared over 81% on Novartis (NVS) offer to buy the Company for $8.7B in cash and sparked another rally in gene therapy stocks . AveXis’ lead product AVXS-101 is expected to enhance Novartis’ position as a gene therapy and neuroscience leader. The FDA has granted AVXS-101 an Orphan Drug Designation and Breakthrough Therapy…
