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  • Finance 0

    Snap Jumps After Barclays Says Buy Ahead Of Turning Point

    Shares of Snap Inc. (SNAP) are on the rise after Barclays analyst Ross Sandler upgraded the stock to Overweight, a buy-equivalent rating, as he sees 2018 as the turning point for Snapchat parent. The analyst argued that the app redesign could help the company and there may be a potential narrative change from Facebook (FB) being a Snap killer to the companies being able to co-exist. BUY SNAP: In a research note to investors this morning, Barclays’ Sandler upgraded Snap to Overweight from Equal Weight and raised his price target for the shares to $18 from $11. The analyst argued that Snap may start hitting or exceeding consensus revenue ...
    On December 5, 2017 / By
  • Finance 0

    ISM Non-Manufacturing PMI Misses With 57.4 – USD Temporarily Slides

    The services sector is slowing down according to the ISM Non-Manufacturing PMI: a score of 57.4 points is significantly lower than a slide from 60.1 to 59 was expected. The high score of October was the best since 2005, so a drop from the sky-high levels is not a that bad on its own. The employment component is down from 57.5 to 55.3 points, pointing to slower hiring during the month and in theory, a negative hint towards Friday’s Non-Farm Payrolls report, although there are many factors there. The New Orders component is down from the extremely high level of 62.8 to 58.7 and Prices Paid are also lower at 60.7. Nevertheless, the headline in...
    On December 5, 2017 / By
  • Finance 0

    Is Volume/Breadth Aligned With Bullish Case? – Tuesday, Dec. 5

    An August 2016 analysis outlined a long-term bullish signal for stocks that has occurred only ten other times in the last thirty-five years. If we fast forward to December 2017, is market breadth/volume aligning with or contradicting bullish data we have in hand? The chart below shows up/down volume (1996-2010) for the NYSE Composite Stock Index, along with its 50-week moving average (thick blue line). Notice how all-things-being equal, the probability of bad things happening increases when the 50-week moving average is flat or negative (see orange and red arrows below). Conversely, the probability of good things happening increases when th...
    On December 5, 2017 / By
  • Finance 0

    AUDNZD Double Bullish Confluence

    The AUD/NZD shows Double Bullish Confluence on an intraday time frame. We can see the W pattern that pushed the price up while at the same time it has formed the bullish SHS pattern (inverted head and shoulders). If the price drops to the POC zone 1.1050-60 (78.6, EMA89, D L3, shoulder bottom) we could see a spike towards 1.1130 W H4 target. The ATR (14) has already been filled so we might see another spike up during late NY or Tokyo session. W L3 – Weekly Camarilla Pivot (Weekly Interim Support) W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance) W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance) D H4 – Da...
    On December 5, 2017 / By
  • Finance 0

    Consumer Defensive Lead The Way

    My Swing Trading Approach Light is best right now. I have the flexibility here to get more long or to start adding short positions depending on what the market wants to do today.  Indicators VIX – Afternoon spike kept its 6-day winning streak intact. Currently at 11.68.  T2108 (% of stocks trading below their 40-day moving average): Struggling to make any sustainable moves higher, but also holding strong despite some overall breadth concerns. Currently sitting at 61%. Moving averages (SPX): Testing the 5-day moving average right out of the gate this morning.  Industries to Watch Today Consumer Defensive led the way, followed by C...
    On December 5, 2017 / By
  • Finance 0

    Wesdome Gold – An Unlucky Miner

    TM editor’s note: This article discusses a penny stock/or microcap. Such stocks are easily manipulated; do your own careful due diligence. Wesdome Gold (WDO.TO) is an unlucky miner. The company owns an excellent mine, Eagle River, but it also has a big shareholder, Resolute Funds, that some time ago has decided that Wesdome is not a decent investment. As a result, since the end of 2016 Resolute Funds has been selling the company’s stocks dragging them down to US$1.4 a share. The charts below document this process:   source: Simple Digressions Note that initially Resolute was a typical contrarian – the fund was purchasing ...
    On December 5, 2017 / By
  • Finance 0

    Senate Tax Vote Not Yet A Game-Changer, According To The Dollar

    Following the Senate tax vote late last Friday, the US dollar rallied on Monday morning as markets raised their expectations of tax cuts becoming reality. The most inflation-sensitive pairs, such as USD/CHF and USD/JPY, enjoyed the biggest rallies. While initial momentum was strong, the dollar gave up a big portion of its gains later in the day. Looking at USD/JPY, the pair strengthened above 113 yesterday but ended the day at 112.40. The pair continues to trade near similar levels today. According to markets, inflation still on the horizon Following Trump’s victory in late 2016, markets were certain of higher future inflation given his pro...
    On December 5, 2017 / By
  • Finance 0

    AUDUSD Daily Analysis – Tuesday, Dec. 5

    AUDUSD broke above 0.7644 resistance, indicating that the downside movement from 0.7897 had completed at 0.7532 already. Further rally could be expected and next target would be at 0.7729. Support levels are at 0.7575 and 0.7532, only break below these levels could trigger another fall towards 0.7450....
    On December 5, 2017 / By
  • Finance 0

    ISM Services Pull Back From A Multi-Year High

    After hitting a 12-year high in October, sentiment in the services sector of the US economy pulled back a little more than expected in November. While economists were expecting November’s ISM Non-Manufacturing report to pull back from 60.1 to 59.0, the actual reading came in even weaker at 57.4. Taking this morning’s report and factoring in Thursday’s report on the Manufacturing sector, the combined ISM for November came in at 57.5 compared to 59.9 in October. In a vacuum, the commentary section of this month’s report shows pretty widespread optimism, but if you’ve been reading these sections of the report on a regular basis, thing...
    On December 5, 2017 / By
  • Finance 0

    When Will Quiet Metals Markets Get The Catalyst They Need

    Fear and greed drive the precious metals markets, but there hasn’t been much of either pushing gold and silver prices lately. Investors have grown tired of worrying about geopolitical events, ever-increasing federal debt ceilings and ever-inflating equity bubbles. Meanwhile, greedy trend traders continue piling into hot markets. With the exception of palladium, metals prices have been stagnant for most of the year. For the time being, gold and silver are looking pretty boring relative to the hefty gains in stock prices and the explosive rise in Bitcoin. Goldbugs are still waiting for a catalyst to shift investor attention back to the metals...
    On December 5, 2017 / By