EUR/USD is trading lower for the last few weeks away from 1.0828 where we see end of a red wave 4) corrective rally which puts wave 5) in play after a broken upward channel on February 08. So far, we have seen a nice move down which can be counted in five waves as labeled on the 4h count, so recent bounce is probably a corrective move; ideally a-b-c in wave 2 which may find a top near 1.0670/1.0700. EUR/USD, 4H...
It must never be forgotten that China is the world’s last remaining communist super-power. At the heart of the communist philosophy is the belief that ultimately, the people are in a struggle with capitalism which must be overthrown to establish a communist panacea across the world. The “experiment” that China is engaging with via its “flirtation” with capitalism must sit uncomfortably in a one party state with a regulated economy – ultimately, one thing or the other must give. The world’s second largest economy, China, has eased its growth target for 2017 by 0.5% and is now calling for growth of “just” 6.5%. Since adopting ...
Several eminent economists believe that without a concrete budget plan or legislative strategy, President Donald Trump’s pro-growth agenda could turn out to be what Silicon Valley calls ‘vaporware’ or promises without a product. The tepid pace of growth of the U.S. economy in the fourth quarter coupled with stretched valuations are making bulls skittish and giving hopes to bears. In such uncertain times, income seeking investors should look for funds that are exposed to stocks providing handsome dividends. Trump’s Impractical Budget In his speech to the Congress, Trump assured that he will keep the several campaign promises made to vo...
Short term Elliottwave view in Crude Oil (CL_F) suggests that the instrument is currently correcting cycle from 11/14/2016 low (42.21) in 3, 7, or 11 swing before the next leg higher. The decline starting from 2/23 high (54.94) is unfolding as a double three Elliottwave structure where wave ((w)) ended at 52.54 and wave ((x)) ended at 53.80. Near term focus is on 52.47 – 52.64 area to complete wave (w) of ((y)), then Crude Oil should bounce in wave (y) of ((y)) before turning lower again towards as low as 49.34 – 50.41 area, provided that pivot at 53.8 high remains intact. We don’t like selling the proposed pullback and expect the n...
Way back in 2002, you may remember something about a company called Enron, a company called WorldCom, and one of the big 5 (now 4) auditing firms, Arthur Anderson. In a very broad nutshell, Enron and WorldCom intentionally deceived investors into believing that they were making a lot of money when in reality the company was going bankrupt. At the same time, their auditors (Arthur Anderson) was a highly reputable auditing firm, so naturally no one suspected anything suspicious since it was clear that they were being audited by one of the best in the business. Well, the rest is history. Neither company exists anymore, their major executives a...
We could be in for an interesting day on the stock market if the closing price action is any indication. Bulls still have control of this market on the daily charts, but the bears intraday finally showed some signs of life today. Keep an eye out for that and make sure to keep. Here’s the Stockwatch: Long Ciena Corp (CIEN) Long Dow Chemical (DOW) Short Ball Corp (BLL)...
After opening the trading day on a cautious note, Indian markets witness selling momentum in morning trade amid weak global markets. Losses are largely seen in oil & gas stocks and metal stocks. The BSE Sensex is trading lower by 140 points and the NSE Nifty is trading lower by 42 points. The BSE Mid Cap index is trading down by 0.5% while the BSE Small Cap index is trading lower by 0.8%. The rupee is trading at 66.63 to the US$. Retail companies trading higher ahead of the Rs 18.7 billion initial public offering (IPO) of Avenue Supermarts Ltd, parent of D-Mart. Avenue Supermarts Limited (ASL) is an emerging national supermar...
Nimble Storage Inc. (NMBL – Free Report) skyrocketed by 46% to $12.58 yesterday after Hewlett Packard Enterprise (HPE – Free Report) announced their $1 billion acquisition of Nimble. Founded in 2007, Nimble is headquartered in San Jose, CA. The technology company makes flash-optimized storage devices and a combination of hard disk and flash drives. The flash storage device technology tends to be more reliable and requires less energy to operate because there are no moving parts. According to research firm International Data Corp., the flash storage industry is expected to rise to nearly $20 billion in 2020. Suresh Vasudevan,...
Asian stocks moved higher on Wednesday morning following positive Chinese trade data that showed signs of a strengthening global economy. China’s imports expanded 44.7 percent in February from the prior year, a growth that piggybacked off of January’s growth and caused an unusual trade deficit in China. The country’s exports rose 4.2 percent. A near 80 percent expectation for a U.S. Federal Reserve interest rate hike next week also inspired Asian stock gains. The MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.25 percent on Wednesday, and data from Thomson Reuters shows that though Asian stocks are cheaper than the...
As you’re no doubt aware, Japanese investors have been dumping US debt. “Data from Japan’s Ministry of Finance confirmed this past week that Japanese investors sold around ¥1.3 trillion ($11.52 billion) in foreign bonds between Jan. 21 and Jan. 28, taking net sales for the past 12 weeks to more than ¥3.7 trillion, the largest amount since April 2014,” WSJ wrote “way” back in January. Here’s a snapshot from last month broken down by investor type: (Deutsche Bank) Well, just moments ago, we got the latest data from the Japanese MoF and guess what? Via Bloomberg: Japanese investors sold a net 1.69t yen ($14.8b) of U.S. sover...