Lunch is coming to a close and some of the most active stocks have captured the attention of the investment community. Top trending marijuana and CBD-related stocks have seen a recent spike in trading volumes this week. Following statements by Sean Spicer that had negatively impacted the industry, reports surfaced that discussed Jeff Sessions’ seemingly new and less aggressive stance on the subject. This has had a more positive impact on the industry as a whole it would seem and many of the stocks in this category have seen the impact. Ubiquitech Software (UBQU), for one, has been making several announcements over recent months discuss...
It was another quiet day for most indices, but the Russell 2000 dropped into a potential ‘bull trap’ situation. The Russell 2000 experienced further weakness with a ‘sell’ trigger in the +DI/-DI with Slow Stochastics [39,1] just above the bullish midline – now the last line defense of the net bullish picture for this index. The S&P suffered small losses, but it did close with a MACD trigger ‘sell’ – the first such turn to weakness in supporting technicals. The Nasdaq also finished with a doji (like the S&P), but it’s just above its 20-day MA in what could be a retracement bu...
While the headlines have been all about the Republicans proposed replacement for the Affordable Care Act (aka Obamacare), the Atlanta Fed issued their latest forecast for first quarter GDP, which has been lowered yet again and is now sitting near stall speed at 1.3 percent. The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2017 is 1.3 percent on March 7, down from 1.8 percent on March 1. We also saw signs of slowing from across the Atlantic where in a major blow to the acceleration narrative in Europe, German Factory orders plunged 7.4% in January, the biggest sequential decline since the ...
Is the rate hike coming on March 15th already priced in? That is the view from Barclays: Here is their view, courtesy of eFXnews: We see limited scope for the USD to continue going up this week, as markets are already largely pricing in a March hike. Fed fund futures discount a 90% probability of a 25bp hike and 65bp for the remainder of the year, something that looks fair to us, given our expectation of monetary policy. In this regard, it seems that the USD may trade sideways as the next FOMC meeting approaches. More important will be expectations of trade policy in the US. Although rhetoric on tariffs has lost some steam recently, the im...
Written by StockNews.com H&R Block Inc. (NYSE: HRB) late Tuesday [Mar 7, 2017 | 4:29pm] posted a less than expected net loss for the fiscal third quarter, along with much higher than anticipated revenue, sending its shares soaring in aftermarket trading....
During the session on Wednesday, we get several announcements, not the least of which will be the ADP Nonfarm Employment Change numbers, but we also get the Crude Oil Inventories announcement. Because of this, it could be a rather interesting trading session. Gold Gold markets fell again on Tuesday, testing the 50-day exponential moving average. The $1220 level is sitting just below, and should offer a bit of support. If we can bounce from here, call buyers should be encouraged. Otherwise, the market could find itself drifting down to the $1200 level. CAC The Parisian index pulled back a bit during the day on Tuesday, as we are reaching towar...
Although gold sentiment is very bullish since early last year, the gold market continues to be in a bear market. The fact about bear markets is that they have only one turning point, most investors tend to forget this important investment insight. Gold remains in a bear market until proven otherwise. In our own, words, as long as gold does not break above its bear market channel, it remains in a bear market. We wrote last year that our gold price forecast suggested no trend change in the first period of 2017, and, so far, that forecast has been very accurate. At a certain point in time, gold will shine again. That moment is simply not now...
Oil reached a high of $53.80 today and prices should close for the fourth time below the 10-day EMA. I’m entering 25% of my position today with a stop just above today’s high. If prices selloff from here I’ll add to my shorts when there is a clear breakdown in MFI or close below $52.50. If the setup in oil is fitting, then prices should begin to decline later this week. Moving back above today’s high will indicate prices still aren’t ready to breakdown....
EURUSD Elliott Wave Sequence from 2/2 peak doesn’t support the idea of 5 wave impulse or even a series of 1,2’s. Decline from 2/2/2017 high to 2/15/2017 low was a 7 swing sequence and the decline from 2/16/2017 to 2/22/2017 low was also a 7 swing decline. This means neither leg down from 2/2/2017 peak was in 5 waves. Even if we were to force the bias and view the two legs down from 2/2/2017 peak as a 5 wave move, still the decline from 2/2/2017 peak is not an impulse because price has already broken above the downtrend line connecting 2/2/2017 high to 2/16/2017 high which negates the idea of a bearish 1,2, ((i))-((ii)). Thus, we can conc...