(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. It helps to identify extremes in market sentiment that are likely to reverse. To learn more about it, see my T2108 Resource Page. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are occasionally posted on twitter using the #120trade hashtag. T2107 measures the percentage of stocks trading above their respective 200DMAs) T2108 Status: 57.5%T2107 Status: 61.4%VIX Status: 13.7General (Short-term) Trading Call: bullishActive T2108 periods: Day #187 over 20%, Day #7 over 30%...
Apple suppliers Foxconn and Pegatron may be looking into relocating their manufacturing operations for the iPhone from China to the U.S. The news comes on the heels of concerns that when Donald Trumps gets into the White House, he may start pushing Apple to start producing at least a certain number of components for the iPhone in the U.S. Foxconn said to be looking into moving Apple production Citing unnamed sources, the Nikkei Asian Review reports that Apple asked Foxconn and Pegatron to start studying the possibility of moving iPhone production to the U.S. The website claims that the iPhone maker requested that Foxconn look into this in...
China’s largest private education provider delivered another strong quarter. Analysts have been raising their price and earnings estimates after solid results, sending the stock back to a Zacks rank #1 (Strong Buy). About the Company Founded in 1993, New Oriental Education & Technology Group Inc. (EDU) is the largest provider of private educational services in China with over 26.6 million student enrollments. The company IPO’d on the NYSE in September 2006. Headquartered in Beijing, New Oriental group currently has a network of 771 schools/learning centers and over 19,700 teachers in 56 cities. Additionally, it has a larg...
The US Dollar traded broadly higher in overnight trade, rising alongside front-end US Treasury bond yields as Asian markets took their chance to price in yesterday’s comments from Fed Chair Janet Yellen. The central bank chief seemed to concur with investors’ thinking on the implications of a fiscal stimulus boost championed by President-elect Trump, saying such a move “could have inflationary consequences” that the Fed would “have to take into account”. Traders appeared to take this as an endorsement of the steepening in the priced-in rate hike path since the US presidential election and pushed on with gusto. The Japanese Y...
Next week, Black Friday and Cyber Monday will kick off the start to the U.S. holiday shopping season, during which consumers are expected to spend a total of $655.8 billion this year. With the average bill coming in at $938.50 for holiday spending, where are people finding the extra cash? We looked back at the last five years of Equifax data to see how consumer debt correlates to holiday purchases. THERE’S CREDIT IN STORE One way consumers take advantage of Black Friday deals is through the issuance of store credit. Specifically, Black Friday traditionally sees a noteworthy surge in signups to private label cards – the kind redeemed at ...
It has been more of the same this morning as the dollar extended its advance on the still undeteremined Trump reflationary policy measures after Yellen signaled an interest-rate hike could be imminent, while bond yields around the globe rose again, metals declined, European stocks advanced and futures were modestly in the red just shy of all time highs. A quick recap of what Yellen said: she reinforced the message that the Fed was close to raising rates, noting that the case for hiking ‘relatively soon’ would continue to strengthen as long as incoming data held strong. She also signaled the need for the FOMC to avoid delaying rate increas...
Recession risk in the US remains low in the wake of several upbeat economic. Retail sales and residential housing construction in particular posted firmer numbers for October. Industrial output was flat last month, but the mildly negative annual trend continues to move closer to zero, driven by modest growth in the manufacturing sector. Meanwhile, the labor market still looks poised to expand. Payrolls continued to rise in October and growth looks poised to continue in the near term based on yesterday’s news that jobless claims dropped to the lowest level since 1973. The macro trend, in other words, remains solidly positive. Octob...
Volkswagen has reached a deal to cut up to 30,000 jobs from its workforce, or nearly 5% of its headcount, Bloomberg reports, citing comments from VW brand Chief Herbert Diess at a press conference in Wolfsburg. The headcount reduction will come through attrition, and the automaker also agreed to refrain from forced layoffs until 2025. Diess commented, “This is a big step forward, maybe the biggest in the company’s history. All manufacturers must rebuild themselves because of the imminent changes for the industry. We need to brace for the storm.” Reference Link ...
Video length: 00:01:19 USD/JPY The US dollar broke higher against the Japanese yen during most of the Thursday session, and it’s only quite remarkable: tested the 110 level after forming a shooting star the previous day. This is a very strong sign, and as a result I believe that we are going to break out sooner rather than later. The fact that we reached above the top of the shooting star shows just how much upward momentum there is, but I would be the first to admit that the market seems to be a bit overbought at this point. I look at pullbacks as potential value plays, and we use them as such. I think that the “floor” in the market is...
Since the US election, the dollar has been on a tear. Pullbacks have been brief and shallow. There are powerful trends in place. The euro has fallen nearly five percent over the past ten sessions, during which it is not closed higher once. The dollar rose four days this week against the yen and four days last week. The dollar has risen a little more than 7% against the yen during this run to reach five-month highs by approaching JPY111 today. US 10-year yields have fallen once in the past two weeks. Above 2.30%, the yield is at its highest in nearly a year. The S&P 500 is within 0.3% of its record high set in mid-August...