Remember this chart? (BofAML) Yeah, so that’s become something of a mainstay among those of us who enjoy reminding market participants about just how absurdly efficient the central-bank-inspired BTFD trade has become. Basically that visual underscores a point Marko Kolanovic made a while back, which is simply that the time it takes markets to mean revert after geopolitical earthquakes is compressing over time and in the case of Trump’s November victory was reduced to mere hours. Well on Monday we got what might be fairly described as a supercharged version of that dynamic when buy-the-populist-dip met market-friendly geopolitical out...
Cycles do exists in the market, and it PAYS to know about them! Here we see the 287 Daily Gold cycle has been working well for some time. Gold is still working through the demand and supply battle of this apex....
During the session on Tuesday, we get CB Consumer Confidence numbers, New Home Sales, and a few other lower level types of announcements. Because of this, we believe that a lot of focus will be on the United States. USD/CAD The USD/CAD pair broke higher during the session on Monday, breaking the top of the hammer from the Friday session. Because of this, looks as if we’re going to continue the bullish pressure, and call buyers seem to be very attracted to the market going forward, and perhaps trying to push this market towards the 1.35 handle above. WTI Crude Oil The WTI Crude Oil market continues to struggle, as we find the $50 level to be...
Most markets opened on Monday with a huuuuge gap. Some, in particular, opened at interesting levels. For example, GBPJPY Fibonacci analysis shows the pair opened at a hard resistance above the daily Ichimoku cloud. What’s an Invest Diva to do now? Let’s figure it out. 1- Fundamental Points It was mainly the French elections that drove the gap. We covered that yesterday. Japanese Yen was one of the currencies which got pretty strong. Probably because market participants turned to it as safe haven. UK Fundamentals: Brexit got pushed to the front once more after U.K. Prime Minister Theresa May called for a snap elect...
We all knew it was coming and now it has finally been confirmed that the Senate’s favorite Socialist will introduce legislation later this week calling for a $15 federal minimum wage. The pending release of the bill was confirmed earlier today by Bloomberg’s Josh Eidelson. Apparently co-sponsored by fellow liberals, Senator Murray, Keith Ellison, Bobby Scott and Raul Grijalva, the bill will call for a $15 federal minimum wage to be fully implemented by 2024. Bernie Sanders, Sen. Murray, Keith Ellison, Bobby Scott, Raul Grijalva et al will unveil bill Wednesday to raise minimum wage to $15 by 2024 — Josh Eidelson (@josheidelson)...
Podcast: Play in new window | Play in new window (Duration: 13:15 — 7.6MB) DOW + 216 = 20,763 SPX + 25 = 2374 NAS + 73 = 5983 RUT + 18 = 1397 10 Y + .03 = 2.27% OIL + .06 = 49.29 GOLD – 7.90 = 1277.00 Last Friday we spent some extra time talking about the French election; thinking it might be a significant event for the markets. Results in France’s election on Sunday saw centrist Emmanuel Macron and far-right nationalist Marine Le Pen emerge as the top two candidates for a run-off in two weeks’ time. Early polling shows that Macron is expected to win by a wide margin, with one poll showing the 39-year-old is expected to get 62...
In February 2017 while preparing for a presentation in Gothenburg about central bank gold, I emailed Sweden’s central bank, the Riksbank, enquiring whether the Riksbank physically audits Sweden’s gold and whether it would provide me with a gold bar weight list of Sweden’s gold reserves (gold bar holdings). The Swedish official gold reserves are significant and amount to 125.7 tonnes, making the Swedish nation the world’s 28th largest official gold holder. Before looking at the questions put to the Riksbank and the Riksbank’s responses, some background information is useful. Sweden’s central bank, Sveriges Riksbank aka Riksbanken ...
As of last week, your income taxes are all filed. Congrats! Or, like me, you got an extension. Boo! In either case, it’s a good week to think about what our tax money bought this year. And since we’ve all been promised federal tax reform this spring or summer from a unified legislative and executive branch it’s also good to reflect on how the federal government spends our tax dollars now, and how it might spend them in the future. A simple way to understand federal government spending is to compare it to a household. I don’t mean governments should be run like households – they shouldn’t – I just mean that we taxpayers can under...
Even as OPEC signaled that it may continue to restrict production during the second half of 2017 oil prices fell by more than 7% last week, their worst decline in about a month…so why did oil prices fall, and why are oil ETFs among the worst-performers this year? Written by Sumit Roy (ETF.com) …Key OPEC sources recently suggested that the cuts are likely to be extended. Kuwait’s oil minister, who expects the supply agreement to be renewed for another six months, said that he is satisfied with the compliance from OPEC and non-OPEC countries. Why Energy ETFs Are Struggling All else equal, an extension of the supply reductio...