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Finance 0
Copper New Intermediate Cycle : Bullish
Copper confirmed a new Intermediate Cycle this week with a breach and close above my Red Yearly Cycle Down trend line (see first two charts). Given that this last Yearly Cycle was extremely Right Translated, cycle methodology would indicate we should expect Copper to make new highs in the year ahead of us. My next two charts are on Copper Producers Freeport (FCX) and Southern Copper (SCCO). My next three charts are on three base metal miners, RIO, BHP and NSU. ... -
Finance 0
AUD/USD Unimpressed From Better Chinese Growth Prospects
The independent measure of China’s manufacturing sector, the Caixin manufacturing PMI, advanced above the 50=point threshold. At 50.4, the indicator not only returned to growth territory but also beat expectations that stood at 49.8 points for June. The Australian dollar is unimpressed, trading under the round number of 0.77. Why? China is Australia’s No. 1 trading partner and the indicator tends to have a strong impact. However, the accompanying statements state that inventory levels and confidence about future output, show that the rebound was probably temporary. Will it fall in July? And the Chinese figure is not the only market-mover ... -
Finance 0
Sensex Continues Momentum: FMCG Stocks Witness Buying
After opening the day on a positive note, stock markets in India have continued their momentum. Sectoral indices are trading on a positive note with stocks in the FMCG sector, metal sector and telecom sector witnessing maximum buying interest. The BSE Sensex is trading up 289 points (up 0.9%) and the NSE Nifty is trading up 84 points (up 0.9%). The BSE Mid Cap index is trading up by 0.8%, while the BSE Small Cap index is trading up by 1%. The rupee is trading at 64.74 to the US$. As per an article in the Economic Times, the rollout of the country’s most comprehensive indirect tax reform – the goods and services tax... -
Finance 0
Kuwait Stock Exchange Index (KWSE): Watch Out Below!
The Kuwait Stock Exchange Index (KWSE) is sitting on the edge of a cliff. We may soon see a decisive reversal of the uptrend begun from the January 2016 low. Following the January 2016 low, the KWSE advanced as much as 44.4 per cent as of the 7,091.46 peak reached in early-April. That high completed a 61.8% Fibonacci retracement of the long-term downtrend. During the rally, the index moved well above the pivotal 40-week exponential moving average (ema), and as of January broke out above the long-term downtrend line. This is all bullish behavior for the long-term. Nevertheless, over the past five months a well formed potential head and shoulde... -
Finance 0
EUR/USD: Higher L-Term But Ripe For A Setback N-Term On Change In Unhedged Flows – Nordea
EUR/USD finally made a breakthrough and holds onto higher ground. What’s next? Here is their view, courtesy of eFXnews: Nordea FX Strategy argues that while the longer-term direction for EUR/USD is higher, the pair is ripe for a setback in the near-term. “Everyone is already long European equities, seasonality for Bund yields is negative for July (yields typically drop 14bp), while US data will improve. There are also signs unhedged equity inflows are moderating. These unhedged investors are still well in the money, not due to European equities which have actually weakened since mid-May, but due to currency effects (higher EUR/USD). I... -
Finance 0
Euro Finds A Sorely Needed Bullish Driver In Recent ECB Commentary
Fundamental Forecast for EUR/USD: Neutral – EUR/USD sailed into fresh yearly highs last week, and may have a new bullish catalyst to work through the summer months. – The only EUR-cross that was negative last week was EUR/GBP, which was diverted thanks to surprising central bank commentary (but not from the ECB). – See our Q3’17 EUR/USD forecast at the start of the new quarter. After several weeks of sideways trading, the Euro finally picked a direction. The Euro gained versus every major currency last week save for the British Pound, as European Central Bank President Mario Draghi’s commentary on Tuesday sent th... -
Finance 0
Above The 40 – A Simple Explanation For Stock Market Confusion
AT40 = 57.2% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 57.6% of stocks are trading above their respective 200DMAsVIX = 11.2 (volatility index)Short-term Trading Call: cautiously bullish Commentary The cats were particularly frenetic in the last week of trading for the second quarter of 2017. The cats are frenetically grasping at balls of yarn. The major indices made some major moves, but it was hard to get a handle on why these moves happened. Why was the market a nut job in one direction one day, and then a nut job in the exact opposite direction the next day? The major indices swung wildly up and... -
Finance 0
Sensex & Nifty Open Firm; ITC At Record High
Asian equity markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.19%, while the Hang Seng is up 0.03%. The Nikkei 225 is trading higher by 0.13%. US equities closed mostly higher on Friday as Wall Street capped a strong first-half performance. Meanwhile, share markets in India have opened the day on a strong note. The BSE Sensex is trading higher by 160 points while the NSE Nifty is trading higher by 45 points. The BSE Mid Cap Index and BSE Small Cap index opened the day up by 0.3% & 0.2% respectively. Barring automobile stocks, energy stocks and information technology sto... -
Finance 0
The Real Cause Of The Opioid Epidemic: Scarcity Of Jobs And Positive Social Roles
We all know there is a scourge of addiction and premature death plaguing the nation, a scourge that is killing thousands and ruining millions of lives: the deaths resulting from the opioid epidemic (largely the result of “legal” synthetic narcotics) are mounting at an alarming rate: We also know that the proximate cause of this epidemic is Big Pharma, which promised non-addictive painkillers that lasted for 12 hours but delivered addictive painkillers that did not last 12 hours. The unsavory truth was reported by the Los Angeles Times last May (2016) in a scathing investigative series: ‘You Want a Description of Hell?&#... -
Finance 0
Bi-Weekly Economic Review: Draghi Moves Markets
In my last update two weeks ago I commented on the continued weakness in the economic data. The economic surprises were overwhelmingly negative and our market based indicators confirmed that weakness. This week the surprises are not in the economic data but in the indicators. And surprising as well is the source of the outbreak of optimism in the bond market and the yield curve. We’re growing at 2% or so and it is apparently going to take something big to move us off that number. Investors thought for a while that the new Trump administration would supply that something big in the form of tax cuts, regulatory reform and healthcare reform....
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