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USD/JPY Recovers – Forecast Dec. 4-8 2017
Dollar/yen finally found its footing and began recovering. The USD enjoyed a potent mix of good data, positive comments from Fed officials and upcoming tax cuts. The yen did not manage to ride on fears from yet another North Korean missile test. Will it continue higher? Update: The Senate approved the bill by 51 to 49. USD/JPY fundamental movers It began with the highest new home sales in a decade, continued with a similar record from consumer confidence and then we got GDP at 3.3% annualized for Q3: an upgrade and also a great number on its own. Outgoing Fed Chair Janet Yellen was relatively upbeat about the economy, while incoming ... -
Finance 0
A Primer On The Bear’s Eye View
Back from my two week break and nothing much has changed: Dow Jones continues advancing Gold is range bound at current levels since the beginning of October The Dow Jones broke above 24,000 this week on Thursday. It was trading in the 23,000 range only since October 18th, a month and a half back. What’s next, the Dow Jones with a 25K handle by February? Well, when a market refuses to go down, the only thing it can do is go up until something happens to knock the wind out of the bulls’ sails. It needs to be said, and then said again, that the big bulls in this market are the central banks, institutions that never fear they may lose mo... -
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E Market Briefing For Monday, Dec. 4
‘Epic chaos’ on Monday roiled markets dramatically; but notably primary uptrends in the S&P or any other major index, were NOT broken as of yet. Much developed after the close, including ABC News recanting their story that ignited the fury (a ‘clarification’ as they called it); with a world of serious difference from what they alleged (whether more surfaces later or not who knows). Plus you had the Senate version of the tax bill pass in the wee hours last night; which now goes to reconciliation with the House (and we’ll see what firestorms they try to wrestle with, if any; but more likely some resistance... -
Finance 0
November MLP Fund Flows Overwhelm Fundamentals
In a single week in mid-November, from the 15th to 22nd, $317 million flowed out of MLP mutual funds. It was an extraordinary exit over such a short period, second only in recent history to the first week of December 2015, when $340 million bolted. That was a time when every seller was motivated while buyers were scarce. Within two months the sector bottomed and began the glorious 2016 rally. Nonetheless, the collective mutual fund exit in mid-November represented fully 1.5% of the $20 billion in such funds. In its way it was a run on the bank, punctuated by the apparent absence of a crisis anywhere else. Over that same time period, the S&... -
Finance 0
Why Are Top Analysts Obsessed With These 3 Disruptive Stocks?
TipRanks covers the latest market activity on over 5,000 stocks from eight different sectors. Here we focus in on three particularly interesting stocks. These are stocks that have the power to disrupt- and have significant backing from the Street. All these stocks have a ‘Strong Buy’ rating from the best-performing analysts- and big upside potential from the current share price. Indeed, Amazon (Nasdaq:AMZN) recently caused shock-waves with its snap takeover of retail store Whole Foods. Now, according to CNBC, the company is in preliminary talks about entering the lucrative drug purchasing market. But AMZN is just one of the stocks we co... -
Finance 0
Gold Stays Confined, But Silver’s Way Behind
We were privileged to kick off the month of December yesterday (Friday) by taking coffee late in the trading session over at “the club” with a great and good friend of The Gold Update. In sharing the screen over which we’d been brooding since midnight of the S&P 500 futures, their having floundered on the Flynn Follies, only to recover in anticipation of the Senate’s having enough votes (51-49) for its version of the tax bill, (next to be co-mingled with the House version), our topic swiftly switched to the precious metals. For in the microcosm of a single trading session, we were seeing just how untoward Silve... -
Finance 0
Sell Cryptos – Buy Gold
During the 2006-9 financial crisis, a collapse of the global financial system was avoided by massive money printing, guarantees and allowing banks to value assets at cost rather than market, as well as a panic lowering of interest rates from as high as 6% in the US to zero or negative. Bonds issued by eight major countries currently have negative interest rates from 1 & 2 year debt for Italy up to 15 & 30 year debt for Japan, Germany and Switzerland. GLOBAL LIABILITIES OF $2 QUADRILLION Whatever central banks and politicians say, nothing has been solved. On the contrary, risk has grown exponentially since 2006. Global debt has doubled... -
Finance 0
EUR/USD Targeting Further Bull Pressure, Eyes 1.1960 Zone
The EUR/USD pair faces further upside as it looks for more strength. Resistance comes in at 1.1950 level with a cut through here opening the door for more upside towards the 1.2000 level. Further up, resistance lies at the 1.2050 level where a break will expose the 1.2100 level. Conversely, support lies at the 1.1850 level where a violation will aim at the 1.1800 level. A break here will aim at the 1.1750 level. Below here will open the door for more weakness towards the 1.1700. All in all, EUR/USD faces further downside threats.... -
Finance 0
EC Earnings Growth Accelerates In 2018
Here are the key points from the week’s earnings trends: • We will start getting the earnings Q4 results in about two weeks’ time, though the reporting season will really get going only in the second week of the New Year. • Total Q4 earnings are expected to be up +8.6% from the same period last year on +6.6% higher revenues. The revisions trend for Q4 estimates has been very favorable, with earnings estimates holding up a lot better relative to other comparable periods. • The Q3 is effectively over, with results from 494 S&P 500 members already out. Total earnings for the 494 S&P 500 members that have reported a... -
Finance 0
Weighing The Week Ahead: A Strong Outlook Gets Even Stronger
The economic calendar is another big one, with an emphasis on the employment situation. Despite this, everyone will be scrambling to analyze the tax cut legislation. I expect many to be asking: What do the tax cuts mean for financial markets? Last Week Recap In the last edition of WTWA I predicted that attention would turn to the tax cut debate, with little attention to the economic data. That was an accurate guess, as the story took many twists and turns. My forecast that the legislation would not pass was mistaken. This broke my long string of successful forecasts of decisions on policy matters. The Story in One Chart I always start my p...
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