Our intraday outlook is bearish, and our short-term outlook is bearish. Our medium-term outlook remains neutral, following S&P 500 index breakout above last year’s all-time high: Intraday outlook (next 24 hours): bearish Short-term outlook (next 1-2 weeks): bearish Medium-term outlook (next 1-3 months): neutral Long-term outlook (next year): neutral The U.S. stock market indexes were mixed between -0.1% and +0.3% on Friday, as investors hesitated following Thursday’s move down. The S&P 500 index fell the lowest since end of May on Thursday, as it got closer to support level of 2,400. It is now trading 1.2% below its June 1...
Different technological changes impact business in different ways, but the most powerful is interactive technologies. (This article is not about the company of that name.) A typical business is subject to diminishing marginal returns. Let’s estimate the value provided to a company’s customer per unit of good or service sold. It begins with some positive value provided to customers, and that value typically improve holds over time. The company makes some marginal adjustments to the products that improve the customer experience. But the low-hanging fruit is eventually picked. Further improvements are harder and harder to make. On the sales ...
Deutsche Bank analyst Alan Hellawell raised his price target for Alibaba shares to $201 from $158 after spending two days with management in London. The stock closed Friday up 13c to $140.90. His new target reflects a roll forward to 2018 estimates. Management reflected on its ever-improving use of customer data, Hellawell tells investors in a research note. The analyst highlights Alibaba management’s “undiminished belief” in the potential to monetize core commerce through better ad targeting and analytical support of the platform’s merchants. It is clear that the company remains in the early stages of bringing togethe...
Your Top 5 Things to Know this Monday Today in our fundamental analysis: At the start of this week, we look at the major events you need to know before you start trading. US events will be in focus this week and today UK PMI data will be released. Gold prices are lower while oil prices are higher. Fundamental Analysis For the week ahead, US events will be the major focus. The US dollar was the second weakest major currency last month as many of global central banks turned hawkish. There are a lot of doubts on whether Fed will deliver another rate hike in September. PMI (Purchasing Managers Index) data will be the main focus today. UK wi...
Previous: On Friday, June 30, trading on the euro/dollar pair closed down. On the last day of the week, month and quarter, buyers retreated from the 1.1445 high to 1.1392 (-53). During the month of June, the euro appreciated by 1.55% (+175 pips). During the second quarter, it rose by 7.11% (+750 pips). I believe that this is a technical correction that still hasn’t come to an end. Markets ignored the statistics released before the long weekend in the US and Canada. US statistics: The personal income index in May grew by 0.4% (forecast: 0.3%, previous reading: 0.4%). The personal spending index for May grew by 0.1% (forecast: 0.1%, previous ...
It’s one thing to read about cryptoeconomics and another thing to actually do it. I had been reading about Bitcoin in the abstract from 2009, but it wasn’t until I became an owner in 2013 that I began to realize the implications of this technology. My boots were on the ground, as they say, and I saw and experienced things I never imagined possible. A money and payment system in one application? Made entirely from code? Invented by an anonymous programmer and gradually adopted in a globally distributed system run by hobbyists? The whole thing seemed crazy. I wanted to know more. So I organized one of the earliest national conferences on ...
A significant slowdown in the UK manufacturing sector according to Markit. The manufacturing PMI drops from 56.3 to 54.3 points in June. A weaker pound helped the small sector. Did the recent strength of Sterling dampen the mood? GBP/USD extends the drops it had already begun before the release, hitting a new low of 1.2968. Support awaits at 1.29. Was the data leaked? Markit’s manufacturing purchasing managers’ index was expected to tick down from 56.7 to 56.4 points in June. This is the first PMI out of three, with construction tomorrow and services report on Wednesday. GBP/USD was trading just under 1.30 ahead of the publication, sellin...
S&P 500 futures have started the second half solidly in the green, up 0.3% to 2,429, tracking European markets broadly in the green, while Asian stocks fell slightly and crude oil is little changed. With US markets set to close at 1pm today trading volumes in many markets remain light before Tuesday’s July 4th holiday and as investors await Friday’s report on the American jobs market. Traders will be looking at key upcoming economic data for validation of the hawkish shift from central banks that roiled markets last week. The Asian session opened with the Yen initially strengthens following Prime Minister Abe’s shocking election ...
EUR/USD 4 hour The EUR/USD break above resistance (dotted lines) is showing strong bullish momentum. Price is approaching Fibonacci targets of wave 5 (purple) which could complete wave 3 (green). 1 hour The EUR/USD is building a triangle correction (red/blue lines) within a wave 4 (brown). The Fibonacci levels of wave 4 vs 3 could act as potential support levels. A break above the resistance could start wave 5 (brown) whereas a break below the support (green) makes a wave 4 less likely. USD/JPY 4 hour The USD/JPY is in a bullish trend channel which is indicated by the support (blue) and resistance (red) trend lines. A break above the channel ...