If you are looking for a trend on the daily or any clue as to the direction of this market, you won’t find it by looking at the daily chart on the S&P 500 (SPX). In fact, you will have to drill down into the intraday, namely the hourly or half-hour chart to find what the market is really doing under the surface, and that is, it is stuck in a downtrend, while rallying today following an established lower-low on Friday. Follow me so far? Essentially, don’t be fooled by this bounce today. Yes it sucks, if you are trying to follow a trend, but it doesn’t resolve anything for you the trader. Unless it can find a way to br...
We’ve finally reached late August, meaning your Facebook newsfeed is probably brimming with children and teenagers sporting brand new sneakers and backpacks in preparation for their first day of school. Maybe one or twof your young ones are heading back this week or next. If so, I wish them all the best this year, and I hope you enjoy and cherish watching them grow. It’s also around this time that hundreds of thousands of 18-year-olds will be attending their very first day of college or university. This cohort, born mostly in 1998, is among the youngest of millennials, the generation born between 1980 and 2000. According to Census Bureau ...
Central bankers have impeccable usually PhD level credentials from all the right places. Because of that, it is simply assumed that they are the preeminent experts of how any economy works. In reality, however, the term stamped on each of their doctoral degrees is highly misleading. Though it may say economics, it was really and truly nothing more than a rigorous training in statistics and regressions. The word “economics” itself is derived from the Greek; Latin oeconomia from Greek oikonomia, meaning “household management.” It wasn’t until the 17th century that more cumulative study was made turning the aggregate decisions of h...
Amazon is about to enter into the student loan business, alongside Wells Fargo, with the promise of cheaper rates for those who pay for a ‘Prime Student’ subscription. The decision means subscribers to the service will receive discounts, free and fast delivery, video streaming services and reduced fees for student loans as part of the $49-a-year package. “Amazon’s looking for increased membership in Student Prime. That’s what they want out of this deal”, said the head of Wells Fargo’s personal lending division, John Rasmussen, in an interview with Reuters. “What we’re looking for is exposure to our products and services, an...
The move to punish the UK picks up steam even though such actions will damage the EU far more than the UK. Belgium is the latest country bounds and determined to punish the UK. Please consider EU will not help UK out of ‘black hole’, Belgian premier warns. Britain’s vote to leave the EU has opened a political “black hole” in Westminster and Europe’s leaders will not bend to help it out, Belgium’s prime minister has warned. Charles Michel’s caustic views on the unreal “dreams” of Brexiters, outlined in an hour-long interview with the Financial Times, speak to the difficulties Britain faces in reaching an exit trade deal th...
Jason Zweig, who a year ago called Gold a “pet rock” is doubling down. He reiterates his belief, albeit a misguided one that Gold is a pet rock and justifies it with the usual anti gold bug propaganda. Unfortunately, Zweig along with many gold-bashers and ironically some gold bugs continue to either neglect Gold’s major fundamental driver or have no clue about it. Roughly year ago, I wrote my first book, The Coming Renewal of Gold’s Secular Bull Market. Numerous readers and subscribers praised the book for being the best book ever written on the subject of Gold and gold investing. Unlike other present books on the subject my book is...
Gold: The commodity extended its recovery the past week leaving risk higher in the days ahead. On the downside, support comes in at the 1,355.00 level where a break will turn attention to the 1,250.00 level. Further down, a cut through here will open the door for a move lower towards the 1,340.00 level. Below here if seen could trigger further downside pressure targeting the 1,330.00 level. Conversely, resistance resides at the 1,370.00 level where a break will aim at the 1,380.00 level. A turn above there will expose the 1,390.00 level. Further out, resistance stands at the 1,400.00 level. Its weekly RSI is bullish and pointing higher sugges...
On Wall Street, everything boils down to making money. If you think your broker or fund manager is juicing returns to put more money in your pocket… well, sadly, you’re mistaken. In fact, the father of index funds, retired Vanguard CEO John Bogle, wholeheartedly agrees. But the worst part, he says, is that retirement investors are still being duped. If you’re an investor still buying into the fantasy, Steve McDonald says it’s time to snap out of it. Get the full scoop in today’s “Slap in the Face” Award video. Transcript: This week’s “Slap in the Face” Award goes out to Wall Street and retirement investors. And it com...
MFS Growth Allocation A Fund (MAGWX) a Zacks Rank #2 (Buy) was incepted in June 2002 and is managed by Massachusetts Financial Services Company. MAGWX’s investment objective is to seek long-term growth of capital, and secondarily current income. MAGWX seeks to achieve its investment objective by allocating its assets according to the following target asset class allocations: U.S. Stocks – 60%, International Stocks- 20%, Bonds – 20%, Cash – 0%. MAGWX implements its allocation by investing in a mix of underlying funds, which in turn may invest directly in U.S. equity securities, foreign equity securities and bonds. Thi...