Further to my post of December 18, the S&P 500 Index hit 2700 today, making the “Big Round Numbers” list (the Nasdaq Composite Index hit 7000 that day and is trading well above today). We’re still waiting for the Dow 30 Index to hit 25,000, but it’s well within striking distance…only 124 points to go (see Monthly charts below).
Today the Institute for Supply Management published its monthly Manufacturing Report for December. The latest headline Purchasing Managers Index (PMI) was 59.7 percent, an increase of 1.5 percent from 58.2 the previous month. Today’s headline number was above the Investing.com forecast of 58.1 percent. Here is the key analysis from the report: The report was issued today by Timothy…
The past week our forecasts have been dead on in terms of timing intraday tops, bottoms, along with oversold levels. The 30-minute chart of the SP500 index shows the two gap fills, oversold buying zones, and our recent forecast yesterday afternoon which was for a continued rally. Everything has played out as expected thus far. This…
Rick Ackerman is with us today to share his updated technical outlook for copper, oil, and gold. Rick has some higher target he is expecting. We also discuss what the move up in copper and oil are telling us about the global economy. (Audio length 00:11:32)
Car sales are down for the first time year-over-year in 8 years. However, this was the 5th strongest year in history. The Wall Street Journal reports U.S. Car Sales Fell Last Year, the First Annual Decline Since Financial Crisis. Full industry results for December, due out later Wednesday, are expected to show sales declined about 6%…
The U.S. manufacturing sector expanded at a faster pace in December, according to the Institute for Supply Management report released on Wednesday. The Manufacturing Purchasing Managers’ Index stood at 59.7 percent, up from 58.2 percent recorded in November. Master Lock’s manufacturing plant in Milwaukee, Wisconsin Gauge of new orders jumped to 69.4 percent, a 5.4 percent…
I am quoted in Smith Brain Trust (Robert H. Smith School of Business, University of Maryland) on “Top Five Stocks to Watch in 2018”. Bet on Berkshire, Apple, Wells Fargo, BofA and Kraft Heinz 2017 was a pretty happy year for stock investors, and David Kass says he expects 2018 to be rosy as well. Kass, a…
In 2009, Iranians went to an election pitting Mahmoud Ahmadinejad and the moderate Mir Hosein Mousavi. Ahmedinejad was announced the winner which led to massive protests in Tehran and other cities in what came to be known as Green Movement. The protests were later suppressed by the government, which killed tens of protesters. On Thursday,…
Not too long ago, Allergan was one of the best performing stocks largely thanks to the rollup nature of its Carl Icahn-sponsored core “roll-up” vehicle of Forrest Labs/Actavis, and led by mercenary activist CEO Brent Saunders, at least until its ill-fated 2015 merger with Pfizer was unceremoniously blocked by the Obama administration in April 2016, when…
Gold closed above $1,300 per ounce for the first time in 5 years as the U.S. dollar saw it’s worst decline over the past 14 years. Despite a strong start in 2017, XAUUSD spent most of the year in a sideways range around $1250 area before the final bounce came by year end to allow the precious metal to…
