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What’s Next For Apple And The S&P: This Is What The Charts Say
Following last week’s relentless drop in Apple, and what appears to be a head and shoulders cap to the S&P rally which started with a double bottom in February, two questions posed most frequently by traders are a) what happens to AAPL next and b) where does the S&P go from here. We don’t know, since fundamentals clearly dont’ matter while technicals tend to be offset on virtually every step by some new and improved jawboning by central bankers, however, here is one attempt to answer that question by Bank of America’s chief chartist Stephen Suttmeier. Here are his key takeaways: AAPL breaks key support at $92... -
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Wall Street’s Week Ahead: Cisco Systems, Salesforce.com, Wal-Mart Stores And Applied Materials
Analysts are anticipating earning reports from many big-name stocks this week, namely Cisco Systems, Inc.(NASDAQ:CSCO), salesforce.com, inc. (NYSE:CRM) Wal-Mart Stores, Inc.(NYSE:WMT) and Applied Materials, Inc. (NASDAQ:AMAT). Here is what to watch as each company posts earnings this week: Cisco Systems, Inc. Cisco Systems, Inc. is expected to post Q3:2016 earnings Tuesday, May 18, after market close. Analysts expect the multinational technology company to post EPS of $0.55, and revenue of $11.97 billion. In the same quarter of the previous year, Cisco posted revenue of $12.1 billion which was a 5% increase y/y, and EPS of $0.47. Though... -
Finance 0
Time To Cash Out Of Lending Club
Lending Club (NYSE: LC) recently announced that its chairman and chief executive, Renaud Laplanche, resigned after an in-house review revealed violation of the organization’s business practices. The company indicated that the violation related to the sale of $22 million in near-prime loans to one individual investor. Lending Club did not comment on how the sale deviated from the client’s order, although they stressed that pricing and credit quality was not at issues. In the announcement, the company stated that the financial impact of the sale was minor; however, the violation of stated practices, along with a lack of full dis... -
Finance 0
Tesla Hires Audi Production Veteran Ahead Of Model 3 Ramp
Tesla (TSLA) announced that Peter Hochholdinger is joining the company as VP of Vehicle Production. “At Tesla, Peter will be responsible for continuing to increase and improve Model S and Model X production, as well as help build a scalable, cost-effective and quality manufacturing program specifically designed for Model 3,” the carmaker said. Hochholdinger joins Tesla from Volkswagen’s (VLKAY) Audi (AUDVF), where he spent 22 years working across the entire production chain. He is currently responsible for leading the production of Audi’s A4, A5 and Q5 vehicles. Hochholdinger has also been serving as an advisor for bri... -
Finance 0
First Support Level Re-Tested
Last week’s summary stated: “SPX appears to have completed the first phase of its correction on Friday by reaching a P&F phase target as well as a strong support level. This price area also corresponded to a normal downside projection for the H&S pattern which formed as a top. It should bring about a rally which may be strong enough to carry it back to 2075 — a 50% retracement of the move down from 2111.” This is pretty much what happened last week when the index filled its base projection of 2084, reversed, and started a correction which, by the end of the week, brought it within four points of where the rally star... -
Finance 0
Official Source: Global Silver Supply Deficit Surges On Revised Data
If the cumulative global silver deficit since 2004 of one billion ounces wasn’t large enough, a data revision published by the Silver Institute shows the actual figure was much higher. How much higher? A great deal when the additional revised amount would totally wipe out all the silver at the Comex and Shanghai Futures Exchange warehouses. The Silver Institute receives its figures from the GFMS Team at Thomson Reuters. The GFMS Team also puts out the World Silver Surveys. Some of the data from the World Silver Surveys are published on the Silver Institute website. Before I get into the details of this deficit revision, I want to discuss th... -
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Cycles That Require Your Attention
The next downswing in small cap stocks could get very messy. Using readtheticker.com Hurst cycle tools we can see that both small cap stocks and crude oil may be swinging down over the next few months. The easy money has been made on the upswing. Yes, there may be little more to go on the upswing, but not much. When the cycle works it’s a good idea to keep an eye on it. Small cap stocks are a good measure of Risk On vs Risk Off. Remember true accumulation sees the reduction of volatility. So far we have not seen this, which suggests distribution is the main theme of this consolidation, and lower prices normally follow. Click for ... -
Finance 0
China Stock Roundup: Alibaba Misses, Yingli Green, JD.com Disappoint
Markets showed a downward trend over the week following fresh concerns about China’s economy. The benchmark index declined on Monday following the release of discouraging trade data. The Shanghai Composite Index closed nearly flat on Tuesday as the impact of a report in a leading Communist Party publication continued to weigh on investor sentiment. The benchmark index increased on Wednesday with consumer and healthcare stocks leading the gainers. The Shanghai Composite Index declined marginally on Thursday with consumer staples and industrials leading the declining stocks. Alibaba Group Holding Ltd. (BABA – Analyst Report) repor... -
Finance 0
Fed Minutes And UK Data Dominate
The third week of May is already more USD-focused with the Fed minutes and inflation data. This could be the last opportunity for Yellen and company to hint of a hike in June, something that seems unlikely at the moment. Also note that inflation data is tentatively heating up. For the UK, apart from the Brexit debate, we now have key data released day after day. Also note the euro, which shows signs of weakness. ... -
Finance 0
EC Insider Trading Report Edition 308: Notable Buys And Sales
Welcome to edition 308 of Insider Weekends. Insider buying increased last week with insiders buying $79 million of stock compared to $43.91 million in the week prior. Selling decreased with insiders selling $1.84 billion of stock last week compared to $2.43 billion in the week prior. Sell/Buy Ratio: The insider Sell/Buy ratio is calculated by dividing the total insider sales in a given week by total insider purchases that week. The adjusted ratio for last week dropped down to 23.26. In other words, insiders sold more than 23 times as much stock as they purchased. The Sell/Buy ratio this week compares favorably with the prior week, whe...
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