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Gold & Silver Mining Stocks Facing Triple Kiss Of Resistance Test
The XAU Index is the oldest Gold & Silver mining index in the states, as it started keeping track of Gold & Silver mining stocks in the early 1980’s. With this index having such a long history, it allows any of us to do pattern analysis going back 30-years. This chart looks at the XAU index over the past 20-years. Miners have experienced a strong rally so far in 2016. This strong rally has the index kissing the underside of potentially three resistance lines at the same time at (1) above. As we all know, coins have two sides to them. Bullish price action would result if mining shares can push higher and break above this resistance... -
Finance 0
USD Regains Ground – CAD The Weakest Link
The US dollar began the new trading week on the back foot, suffering some profit taking. However, it is now re-asserting itself and gaining some ground. Various FOMC members took turns in speaking out and left a mixed message. Nevertheless, their words keep the Fed on track for a hot summer hike and this keeps the greenback bid. Looking across the board, the Canadian dollar is the weakest link. The loonie also suffers from a slide in oil prices, which join still-reduced production in Canada, due to the Alberta wildfires. The fall to $47.47 in WTI Crude isn’t helpful. What’s new from the Fed? John Williams from the San Fancisco Fed t... -
Finance 0
Yield-Starved Foreign Investors Are Flooding The U.S. Muni Market
Strange are the times when a third of all government debt around the world carries a negative yield, and yet such is the case today. From Japan to eurozone countries, investors are faced with the tough decision of accepting subzero yields, doing nothing—or seeking other so-called “safe haven” options. Many have rediscovered gold, and as I pointed out earlier this week, demand for the yellow metal as an investment just had its best first quarter ever, with near-record inflows into gold ETFs. But gold hasn’t been the only beneficiary. Overseas investors, starved for yield, are also flocking to investment-grade U.S. municipal bonds, whic... -
Finance 0
U.S. Large Cap Value And High Yield Bond: 2 ETFs To Watch On Outsized Volume
In the last trading session, U.S. stocks closed in the green despite speculations about a sooner–than-expected interest rate hike by the Fed. Among the top ETFs, investors saw (SPY – ETF report) gain 0.63%, (DIA – ETF report) move up 0.40% and (QQQ – ETF report) rise 1.10% on the day. Two more specialized ETFs are worth noting as both saw trading volume that was far outside of normal. In fact, both these funds experienced volume levels that were more than double their average for the most recent trading session. This could make these ETFs the ones to watch out for in the days ahead to see if this trend of extra-inter... -
Finance 0
Messy Monday Markets – G7 Fails To Clean Up Currency Woes
F is for Failure. It’s also for Finance Ministers and F is also the grade they got at this weekend’s G7 meeting after failing to accomplish anything to calm the markets. As you can see from the Nikkei chart, Japan’s markets opened down a quick 2% before recovering half as it gyrated wildly into the close after testing 16,666, which is how the Banksters signal their minions that the fix is in and they have control. For those of us not looking for Satanic messages from the trading floor, 16,500 is a strong (40% of the run) retrace from the bottom we called at 15,900 back on May 4th (good for a $5,000 per contract gain) ... -
Finance 0
Eurozone Business Growth “Unexpectedly” Slows Down To 16 Month Low
It wasn’t just Japan’s PMI which overnight printed at a disappointing 47.6, missing expectations and signaling the sharpest decline in operating conditions since December 2012. Overnight Markit showed that the Chinese credit-induced global slowdown is coming far faster than most (if not Morgan Stanley) expected, when the Eurozone flash PMI printed at 52.9, down from 53.0 in April, below the 53.2 expected, and the lowest in 16 months. As Reuters put it, this offers “the latest evidence that a strong acceleration in growth in the first three months of the year was only temporary” and likely Curiously this happened o... -
Finance 0
Pound Sterling Steadies As Brexit Fears Resume
The Pound Sterling firmed against the US Dollar in Monday’s trading in Europe after seeing a 1% rise last week. With a public referendum looming, FX traders are still wary that Britain could pull out of the European Union. In fact, David Cameron, the UK Prime Minister and George Osborne, Finance Minister and the Chancellor of the Exchequer, are both campaigning hard to stay, recently taking their argument to the UK Parliament. The latest polls have the “in” camp, i.e. those in favor of staying, taking the lead by about 7/2 odds. That news, coupled with an unexpectedly upbeat retail sales report for last month, has helped drive the Pound... -
Finance 0
Morning Call For May 23, 2016
OVERNIGHT MARKETS AND NEWS Jun E-mini S&Ps (ESM16 -0.10%) are down -0.17% and European stocks are down -1.07%. Concerns about European economic growth are undercutting stocks after the Eurozone May Markit manufacturing PMI unexpectedly fell. Comments from St. Louis Fed President Bullard were another negative for equities when he said that there are signs that show the U.S. growing below trend pace of 2%. The weekend meeting of G-7 finance ministers and central bankers failed to inspire markets, although USD/JPY did fall after U.S. Treasury Secretary Lew reiterated his view that recent movements of the yen haven’t been overly vo...
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