Latest Posts

  • Finance 0

    EUR Lifted By Policy Commentary; JPY, Gold Pulling Back

    A quiet economic calendar has left traders focusing on overarching themes in markets, mainly: the state of fiscal policy reform in the United States, and how that may impact the Federal Reserve’s rate hike timeline; how the announcement of the snap elections in the UK will impact the Brexit negotiations; and incoming polls ahead of the first round of the French presidential elections this Sunday. For the US Dollar, it’s becoming more and more evident that any fiscal stimulus-driven inflation that could prompt a faster-than-priced-in Fed rate hike cycle is unlikely anytime soon. US Treasury Secretary Steve Mnuchin, who had previous...
    On April 20, 2017 / By
  • Finance 0

    What’s Ahead For Gold?

    It’s very late in gold’s intermediate cycle (18 weeks) it’s now due for an intermediate degree correction. As most know, I think gold is probably stuck in a difficult basing pattern this year. The big reversal on election night drove gold sharply back below the 200 DMA and that took the fire out of the metals sector. So instead of a continuation of the baby bull we are now left with a difficult basing pattern that could take the better part of the year to play out. It’s just going to take some time to turn that downward sloping 200 week moving average back up. Some patience is called for right now. Gold is very deep into its smaller d...
    On April 20, 2017 / By
  • Finance 0

    Oil Stumbles Back To $50 Handle As Saudi/OPEC Jawboning Fails

    Oil prices limped higher overnight as desperate jawboning of OPEC production cut deal extensions by the Saudis supported a recovery from yesterday’s post-inventories plunge. However, confirming the market’s lack of faith in OPEC (and Saudi’s ability to hold the deal together), WTI prices are sliding back towards a $50 handle as jawboning half-lives slump. As The FT reports, oil producers are moving closer towards agreement on extending the Opec-led deal to limit output, Saudi Arabia’s energy minister said on Thursday, as the cartel battles excess stockpiles and a resurgent US shale industry that have weighed on prices...
    On April 20, 2017 / By
  • Finance 0

    Verizon Unlimited Turns The Tide Of Wireless Losses In Q1

    Verizon Communications Inc. (NYSE:VZ) early Thursday posted worse than expected first quarter earnings results, although its new Verizon Unlimited wireless plan helped turn things around mid-quarter....
    On April 20, 2017 / By
  • Finance 0

    “OPEC Has A Deal!” Buy Euros! Wait, There’s A French Election? Welcome To Thursday

    Let’s start with oil real quick, because there are some notable headlines on Thursday morning. Recall that things took a decisive turn for the worst on Wednesday after EIA data confirmed Tuesday’s bearish API print(s). Specifically, the crude draw came in lower than expected (just like API) and the unexpected gasoline build was even bigger than the API build tipped the day before. And of course crude production keeps hitting new highs. So ultimately, we got this:   That meant it was time for some serious (call it “big league”) jawboning which is exactly what we got from OPEC. Here’s a bullet point summary from Bloomberg: Gulf Coop...
    On April 20, 2017 / By
  • Finance 0

    Foot Locker, Inc. Lowers Its Q1 Earnings Guidance Significantly

    Foot Locker, Inc. (NYSE: FL) early Thursday significantly lowered its first quarter earnings guidance and noted its full-year outlook would likely be impacted as well, blaming late tax refunds for slowing customer traffic....
    On April 20, 2017 / By
  • Finance 0

    Morning Call For Thursday, April 20

    OVERNIGHT MARKETS AND NEWS Jun E-mini S&Ps (ESM17 +0.28%) this morning are up +0.28% and European stocks are up +0.34% as a rebound in crude oil prices from Wednesday’s 2-week low boosts energy producing stocks. May WTI crude oil (CLK17 +0.89%) is up +0.97% on optimism that OPEC will extend its crude production cuts past June. Oman’s oil minister said that Gulf Arab oil producers have agreement to extend production cuts and Saudi Arabia’s energy minister confirmed the initial deal. Signs of strength in the global economy also supported stock gains after Japan Mar exports jumped +12.0% y/y, the largest increase in 2-yea...
    On April 20, 2017 / By
  • Finance 0

    A Couple Gold Ratios And Their Messages

    The Palladium-Gold ratio (weekly) has furthered the scenario that it could be starting a new ‘Chop & Grind’ phase like the one that preceded 2015’s market top (that wasn’t); i.e. the market disturbances that manifested in 2015.  To be sure, Pall-Gold is not broken and we are on a positive signal, but nothing in these markets happens at the speed that thought impulses fire off in our brains on a daily basis.  The signals craaaaaawl along, interminably and this one could be crawling toward a change over the next many weeks. Gold vs. general Commodities (monthly) continues to indicate the reflation-based Trump Trades are over for n...
    On April 20, 2017 / By
  • Finance 0

    More Uncertainty As Investors Await Quarterly Earnings Releases

    Briefly: In our opinion, speculative short positions are favored (with stop-loss at 2,410, and profit target at 2,200, S&P 500 index). 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 -0.6% and +0.2% on Wednesday, extending their short-term consolidation, as investors remained uncer...
    On April 20, 2017 / By
  • Finance 0

    Sensex Closes Higher; Realty Stocks Outperform

    Indian share markets finished the volatile trading session in the green zone with Midcaps and Smallcaps indices leading the rally. At the closing bell, the BSE Sensex closed higher by 86 points, whereas the NSE Nifty finished higher by 33 points. The S&P BSE Midcap ended up by 0.7% while the S&P BSE Small Cap Index ended up by 1.1%. Among the BSE sectoral indices, stocks from banking sector & energy sector led the losses. While gains were largely seen in stocks from realty sector and consumer durables sector. Stock markets in Asia finished mixed as of their recent closing prices. The Hang Seng gained 0.97% while...
    On April 20, 2017 / By