Short term Elliott Wave View in SPX suggests that the rally from the 1/23 low is unfolding as a 5 wave Elliott wave impulse structure where Minor wave 1 ended at 2301, Minor wave 2 ended at 2267, and Minor wave 3 ended at 2400.98. Internals of Minor wave 3 shows an extension and subdivided also as an impulse structure where Minute wave ((i)) ended at 2289.1, Minute wave ((ii)) ended at 2271.6, Minute wave ((iii)) ended at 2371.54 and Minute wave ((iv)) ended at 2358.96. Minor wave 4 is unfolding as a double three where Minute wave ((w)) ended at 2375.4, Minute wave ((x)) ended at 2389.9, and Minute wave ((y)) of 4 is in progress towar...
Previous: On Monday, trading on the euro closed down. After an unsuccessful attempt by buyers to take the price above 1.0630, the euro fell against the dollar to 1.0575. A touch of volatility was to be found during the day yesterday as news came in from France. Ex-Prime Minister Alain Juppe ruled out taking part in the French presidential elections. The euro fell as US 10-year bond yields rose during trading in New York. US 10-year bond yields: 2.494% (up 0.72% from 06/03/17). In Asia, bond yields rose by 0.12% to 2.496%. Market expectations: In Asia, the euro is in a sideways trend, staying at around the 1.0581 level. From the intraday price...
WTI Crude Oil The WTI Crude Oil market initially fell on Monday, but found enough support at the 50-day exponential moving average to turn around and form a hammer. The hammer of course is a bullish sign, and the 50-day exponential moving average tends to attract a lot of attention. If we can break above the top of the candle, the market should then reach towards the $55 level. That is a level of considerable resistance is going to be difficult to break above, and once we do that could send this market towards the $60 level. A breakdown below the 50-day exponential moving average should send this market looking for the $51 level underneath. R...
This week Boeing (BA) posted news that will help the Aerospace Company net millions in profit. It had stated that it has already received $46 million from the U.S. Air force to perform contract work for Saudi Arabia’s recently purchased F-15SA Eagle fighter bombers. This contract is a good step for Boeing to receive additional revenue in the military spending area, especially since there was a drop in military spending in the recently announced fourth quarter 2016 earnings report. This might help the company get back on the right track and hopefully boost military revenue in the next earnings report. Boeing has already made traders a lot ...
Donald Trump has made a lot of enemies during his short political career, but it’s one rift in particular, which has many investors nervous. On September 26, Trump launched an attack on the Federal Reserve, arguably the most powerful institution in the United States. Trump accused Chairwoman Janet Yellen of “doing political things” in keeping interest rates low. While some pundits shrugged off the attack as hot air, Trump’s feelings toward the Fed can no longer be ignored now that he’s President. That wasn’t the first time Trump took a swing at the Fed. At a rally in September the GOP leader criticized Yellen of doing President B...
The possibility of a rate hike in the Fed’s March policy meeting increased following comments from a few officials including Dudley, Williams, Kaplan and Harker. If this was not enough, Fed Governor Lael Brainard – who was a strong proponent of easy money policy before – also signaled a sooner-than-expected tightening saying “it will likely be appropriate soon to remove additional accommodation.” With this, the odds of a March rate hike increased to 69% as per CME while some other market gauges claim that it is as high as 80%. Stabilization in the global economy with the U.S. staging a steady recovery, a solid labor market and a ...
TM editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence. The 3 nano cap ideas below share multiple improving value attributes. Specifically, these attributes trade at historical value discounts compared to 2013 to 2015 for… Gross margin %, shares outstanding, total/non current liabilities, debt per share, FCF margins, EV/EBITDA, EV/Revenue. In addition, the 3 stocks (CRVP , TRT , EEI) reported positive insider buying. Crystal Rock Holdings (CRVP ) produces, markets and distributes bottled water under Crystal Rock and Vermont Pure brands. In a...
By John Benjamin If investors were looking for another reason to be bullish on the U.S. dollar and the Fed rate hike, then last week’s ISM manufacturing data was another reason. The Institute for Supply Management reported last Wednesday that the headline PMI index rose to the highest levels since August 2014 at 57.7 in February, this was an increase from January’s 56.0 print. February’s data also showed that the manufacturing PMI rose for the sixth consecutive month, adding further to the optimism. Looking into the details, data showed that new orders increased to 65.1 while production jumped to 62.9 in February, up from 60.4 and 61.4 ...
EUR/USD did not change much since yesterday, so our view remains the same; we see a three wave move in wave 2 which structured a flat correction which suggests a sharp fall in the very near-term. Ideally market will fall strongly as next big leg down can be even wave 3 based on higher time frame pattern, but as always focus on minimum expectations which in our case is a drop to 1.0470. At the same time, keep an eye on 1.0677 level where next resistance can be seen if wave 2 will get more complex. EUR/USD, 1H...
AVEO Pharmaceuticals, Inc. (AVEO – Free Report) is expected to report fourth-quarter 2016 results this month. The company has an impressive track record for the last four reported quarters having beaten estimates on three occasions and meeting expectations in one with an average positive surprise of 17.56%. In the last reported quarter, AVEO posted a positive surprise of 41.6%. Let’s see how things are shaping up for this quarter. AVEO’s share price movement shows that the stock has underperformed the Zacks classified Medical-Biomedical/Genetics industry in the past one year. In fact, AVEO has lost a substantial 14.8% during thi...