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  • Finance 0

    If Someone Doesn’t Explain Why Stocks Are Lower, You Might Just Have To Buy Gold

    In a testament to the fact that, contrary to what Mario Draghi said in Washington last weekend, investors do not in fact believe that stocks can go down as well as up, there’s a mad scramble on Thursday morning to explain what, generally speaking, is a pretty mild decline in global risk assets. U.S. investors woke up to a sea of red in Europe and also to a sharp decline in the Hang Seng that unfolded in the final minutes of trading and the chatter pretty clearly suggests that everyone is having a Captain Picard moment: “Explanations” range from the plausible (Catalonia) to the conspiratorial (it’s all about the Black Monday anni...
    On October 19, 2017 / By
  • Finance 0

    EURUSD Recovers, Eyes Further Bull Pressure Towards 1.1879 Region

    With the EURUSD pair seen following through on the back of its Wednesday gains on Thursday, more strength is expected in the days ahead. Resistance comes in at 1.1850 level with a cut through here opening the door for more upside towards the 1.1900 level. Further up, resistance lies at the 1.1950 level where a break will expose the 1.2000 level. Its daily RSI is bullish and pointing higher suggesting more strength. Conversely, support lies at the 1.1750 level where a violation will aim at the 1.1700 level. A break of here will aim at the 1.1650 level. Below here will open the door for more weakness towards the 1.1600. All in all, EURUSD cont...
    On October 19, 2017 / By
  • Finance 0

    Philly Fed Manufacturing Index: Continued Growth In October

    The Philly Fed’s Manufacturing Business Outlook Survey is a monthly report for the Third Federal Reserve District, covers eastern Pennsylvania, southern New Jersey, and Delaware. While it focuses exclusively on business in this district, this regional survey gives a generally reliable clue as to the direction of the broader Chicago Fed’s National Activity Index. The latest Manufacturing Index came in at 27.9, up from last month’s 23.8 and has been positive for fifteen consecutive months. The 3-month moving average came in at 23.5, up from 20.7 last month. Since this is a diffusion index, negative readings indicate contrac...
    On October 19, 2017 / By
  • Finance 0

    Why Are These 6 Dow Stocks Fairly Valued? – Part 4

    << Read More: Are These The 6 Best Stocks In The Dow Jones Industrial Average? – Part 3 << Read More: The 6 Most Expensive Stocks In The Dow Jones Industrial Average – Part 2  << Read More:  The 6 Most Expensive Stocks in the Dow Jones Industrial Average – Part 1  Introduction Thus far, with the first 3 parts of this five-part series, we’ve examined 60% (18 of 30) of the 30 stocks in the Dow Jones Industrial Average.What we found so far were that the majority of these constituents are currently overvalued or at least fully valued.Finally, with this Part 4, we will examine 6 additional Dow constituents t...
    On October 19, 2017 / By
  • Finance 0

    EUR/USD Support Bounce, USD Drops Ahead Of Pivotal ECB Meeting

    Next week brings a pivotal ECB rate decision on Thursday. This is the last rate decision before the bank’s December meeting in which the current stimulus program is set to expire, and the large expectation for next Thursday is that we’ll see the European Central Bank ‘recalibrate’ their stimulus program. In latter September, the ECB’s Chief Economist said that the bank would not look at a full-scale stimulus exit, instead electing to recalibrate current measures. The expectation around that is that we’ll see a smaller monthly amount of purchases beyond the current expiration of December 2017. The big question there is by how much...
    On October 19, 2017 / By
  • Finance 0

    Parallels Between 1987 Stock Market Crash And Today?

    Steve Sosnick, Chief Options Strategist at Interactive Brokers, breaks down some similarities between the 1987 market and the current market. Video Length: 00:04:25...
    On October 19, 2017 / By
  • Finance 0

    IBM Seems To Be Making Slow But Steady Progress

    In its recent third quarter results, IBM (NYSE: IBM) came quite close to breaking the streak of 22 straight quarters of revenue declines. However, despite the revenue decline of 0.4%, it handily beat revenue and earnings estimates and looks set for a boost to its stock. IBM’s Financials Revenues for the third quarter declined 0.4% to $19.15 billion, but beat analyst estimates of $18.6 billion. Adjusted earnings of $3.3 for the quarter were also better than the Street’s estimates of $3.28. Net income fell to $2.73 billion or $2.92 per share from $2.85 billion or $2.98 per share, a year ago. By segment, revenue from Cognitive Solutions inc...
    On October 19, 2017 / By
  • Finance 0

    USD/JPY And AUD/USD Forecast – Thursday, Oct. 19

    USD/JPY The US dollar rallied significantly during the day on Wednesday, breaking the top of the shooting star from Tuesday, which is always a very bullish sign. We tested the 113 level, and seemed to be ready to break above there. The fact that we close towards the top of the range is a good sign, and at this point I believe the pullbacks will offer value the traders are willing to take advantage of. I look at the 112 level as support, and therefore I believe that any dip towards that level will probably attract attention. Longer-term, I anticipate that this market is going to go looking for the 114.50 level above, and then perhaps even brea...
    On October 19, 2017 / By
  • Finance 0

    Underlying Industrial Production Trend Ex-Hurricanes Remains Positive

    A few weeks ago, I suggested a hurricane workaround for industrial production. That approach was to average the four regional Fed indexes excluding Dallas, and add the Chicago PMI, and finally discount for the unusual strength this year in these regional indexes vs. production. Here was my conclusion: The average of the 5 is 22.9. Dividing that by 5 gives us +.5. Subtracting .3 gives us +.2. We can be reasonably confident that underlying trend in industrial production in September, despite the hurricanes, has been positive. That approach was borne out yesterday when overall September Industrial Production was reported at +0.3%, with manufac...
    On October 19, 2017 / By
  • Finance 0

    “It’s A Synchronized Global Risk-Off” On The Anniversary Of Black Monday

    As Nanex’ Eric Hunsader shows, today’s trading session is shaping up – at least for now – as the biggest post-midnight selloff in the S&P in 2017.   With a notable risk-off tone…   Yield Curve Inverts, Yuan Slides As China GDP Growth Slows Despite all the talk of deleveraging, China did anything but according to its most recent data but the lagged impact… The selloff is global… AsiaPac…   Europe… And US… Of course, after months of calm acquiescence to the melt-up in global risk assets, a modest drop like today’s needs a narrative to explain it – in order that bullish...
    On October 19, 2017 / By