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Finance 0
Why The Federal Reserve Always “Happens” To Be Wrong
The Federal Reserve Board finds itself back in a quandary of its own making. When Fed chair Janet Yellen pushed through an interest rate hike this past December, she confidently cited an “economy performing well and expected to continue to do so.” The Fed set the stage for more rate hikes in 2016. But something went awry along the way – namely, the Fed’s upbeat forecast. Official pronouncements of optimism don’t square with the economic realities now unfolding. Since the Fed’s rate hike, warning signs of a looming recession have rapidly accumulated. Industrial production is slumping. Global bulk shipping rates ... -
Finance 0
SPY Going For The Head And Shoulders Pattern Again
SPY again trying to confirm this monumental head and shoulders pattern. And yes, if this pattern confirms, it does not bode well for the market going forward. Simply put, a close below 1820 on SPX or 182.00 on SPY means this pattern has confirmed. More importantly though will be tomorrow, and whether Friday’s price action keeps price below 1820 for the week or not. I did a post on this earlier this week, and it is worth doing again, because it is that important. Also important is the 1812 level which was the January lows that the market reversed higher for a period of time off of. We’ve tested that level exactly today and so ... -
Finance 0
Gold’s Cup And Handle Target Reached, What’s Next?
This is a short update on the gold price. As discussed in the gold video update from three weeks ago, gold’s daily chart was in a cup and handle formation. That triggered a big buy signal around $1,115 after the cup and handle was complete. The target laid out was very easy to calculate: the distance from the bottom to the top of the cup formation equals the distance from the breakout point. That target was right below $1,200 which was hit yesterday. Where do we go from here in gold? A pullback is very likely in the short run. In fact, a retracement is even very healthy. That retracement could go down till $1,142 while gold would still be i... -
Finance 0
Avon Dives After Reporting Fourth Quarter Losses
Shares of Avon Products (AVP) are plunging after the company reported fourth quarter results that fell well below analysts’ estimates. Avon manufactures and markets beauty products such as fragrances and cosmetics, and also offers jewelry and accessories. What’s new: Avon this morning said its adjusted continuing operations earnings per share were breakeven, compared with 21c in the year-ago period and analysts’ consensus estimate of 8c. Including items, Avon’s loss from continuing operations for Q4 was 70c per share. Revenue for the quarter came in at $1.6B, below analysts’ estimate of $1.82B. Total revenue was ... -
Finance 0
Will Rising Expenses Weigh Down Pandora’s Q4 Earnings?
Photo Credit: DrivingtheNortheast Pandora Media, Inc. (P) Information Technology – Internet, Software & Services | Reports February 11, After Market Closes Pandora is scheduled to report fourth quarter earnings after the bell on February 11. Shares of the internet radio company has been in a freefall since the company reported third quarter earnings in October. Concerns over slowing growth, coupled with macroeconomic volatility have contributed to share prices falling over 33% in the past three months. The upcoming fourth quarter earnings will shed some light on whether Pandora can compete in a crowded streaming music market. The ... -
Finance 0
EC European Peripheral Debt Is Under Attack
European peripheral debt is under attack. Yield on the Portuguese 10-year bond yield spiked as high as 4.425% from a low of 3.532% earlier today. Yield is up from 2.654% in January. Portugal 10-Year Government Bond Portugal Bears Brunt of Bond Selloff With Yield at 2014 High Bloomberg reports Portugal Bears Brunt of Bond Selloff With Yield at 2014 High. Portugal’s 10-year bonds plunged, pushing the yield to the highest level since the country exited its bailout program in May 2014 and adding pressure on Prime Minister Antonio Costa less than three months after his minority Socialist government took office. The European Commission last week... -
Finance 0
Binary Options Trading Opportunities For February 12, 2016
We get the University of Michigan Consumer Sentiment numbers and the core Retail Sales numbers during the day on Friday, and as a result it’s very likely that we will get a bit of volatility, especially in the Americas. Gold breaks out Gold markets absolutely shot through the roof during the day on Thursday, as the $1200 level was broken above. That being the case, the market looks as if it is going to continue to go much higher and with that being the case we are waiting to see pullbacks in order to start buying calls going into the short-term. We think that longer-term traders are also very long of gold but we also recognize that the gold... -
Finance 0
Reversal Of Fortunes: Capital Pours Out Of Banks And Into Gold
For banks, the recent news is pretty grim. But it’s about to get much worse, based on the following: Yield Curve Flattens: Now 10-Year Yields Just 1% More than 2-Year (Barrons) – Ye olde yield curve keeps getting flatter. Wednesday continued the trend — which is most pronounced between two and 10-year maturities. At 2:30 p.m., the two-year note was at .71%, 1.6 basis points higher than Tuesday’s close, while the 10-year was 2 basis points lower at 1.71%. That’s just 1 percentage point of spread between the two-year and ten-year Treasury notes. Peter Boockvar of The Lindsey Group says this flattening is “the most noteworthy event... -
Finance 0
Rio Tinto Admits Severity Of Commodities Collapse By Slashing Dividend
It finally happened. Rio Tinto plc. (RIO), a major producer of commodities like iron ore, has started to back off its generous dividend payout policy. In its latest earnings statement, RIO announced its total dividend for 2015 will come to 215 U.S. cents per share, the same as it paid out in 2014. Over the past 5 years, RIO reported a payout to investors of over $25B in dividends. However, RIO can no longer afford such generosity. Going forward, the company slashed the “intended” payout almost in half and warned investors that the dividend is now subject to change to align with business realities: “…with the continuing uncertain mark... -
Finance 0
U.S. Bullet Report – Global Sell-Off On Fears Of Global Recession
If a word could describe the situation in the markets the last 2 days, that word would be chaos. Financial markets are experiencing a global sell-off which has seen trillions of Dollars in value lost worldwide. The selloff is sparked again by FED chairwoman’s Janet Yellen careful remarks on the implications on the US economy stemming from the global slowdown and low oil prices. Yellen’s remarks suggested the Fed could delay its planned interest rate hikes amid the undergoing turmoil in financial markets. As a result, some highlights and points to consider if you are planning to trade. This was the worst week for USD since the Lehman crisi...
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