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  • Finance 0

    Gold Breaks Above 1200, USD/JPY Remains Weak

    Daily Forex Market Preview, 11/02/2016 While the US Dollar showed signs of strengthening into Fed Chair, Janet Yellen’s testimony yesterday the Greenback trimmed the intraday gains to settle lower. Gold prices managed to break above the $1200 handle while USDJPY was seen trading below 113. EUR/USD remained strong to the upside but is looking to post a likely correction lower if prices break out from the rising wedge pattern. On the economic front, there is not much of data to go by today except for Janet Yellen’s second day of testimony. EUR/USD Daily Analysis EUR/USD (1.12): EUR/USD closed with a long legged doji candlestick pattern yest...
    On February 11, 2016 / By
  • Finance 0

    Yellen Punts On State Of Economy

    Bulls hoped Yellen would deliver some dovish rhetoric but she didn’t say much overall. Pundits struggled to offer something concrete regarding what Yellen had to say this day but could only offer the most diplomatic comments. Finally, as stocks rallied modestly, early observers could only suggest what she hinted was interest rates would only rise “gradually”, if at all frankly. So that’s what passed for bullish news. Yellen has another day of testimony before the senate. Given that, she’ll return to her focus groups at the Fed ascertaining what she might say next to push stocks higher. Her client/owners, the primary dealers (appx. ...
    On February 11, 2016 / By
  • Finance 0

    That’s Her Story – Financial Review

    Podcast: Play in new window | Play in new window (Duration: 13:16 — 6.1MB) DOW – 99 = 15,914 SPX – 0.35 = 1851 NAS + 14 = 4283 10 Y – .02 = 1.70% OIL – .64 = 27.30 GOLD + 8.00 = 1197.80 Fed Chair Janet Yellen delivered her semi-annual Humphrey-Hawkins testimony in Washington on Wednesday in her first major appearance since the Fed’s rate hike last December. In prepared testimony, Yellen said there are good reasons to believe the United States will stay on a path of moderate growth that will allow the Fed to pursue “gradual” adjustments to monetary policy. Family incomes and wealth are rising, domestic spending “has con...
    On February 11, 2016 / By
  • Finance 0

    Cisco Soars After Q2 Earnings And Revenues Beat

    Cisco Systems Inc. (CSCO – Analyst Report) released their second quarter fiscal 2016 earnings results, posting earnings of $0.53 per share (excluding $0.09 of nonrecurring items) and revenues of $11.92 billion. Currently, CSCO has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below. Cisco:                                                       1. Beat earnings estimates. The company posted $0.53 per share, surpassing our Zacks Consensus Estimate of $0.50...
    On February 11, 2016 / By
  • Finance 0

    EURUSD Elliot Waves Analysis For 11 February 2016

    Wave Analysis: EUR/USD is currently trading just below a very significant resistant level 1.1316. Unless the price breaks above 1.1337, we will be keen to look for short positions below 1.1316 with our targets at 1.1213 and 1.1128. A close above 1.1337 would mean we are headed long but with an ultimate target at 1.147. This pair should be traded alongside other positively correlated pairs such as EUR/GBP, EUD/AUD and EUR/HKD . These pairs have a strong positive correlation of up to +0.99 and are thus expected to have a similar price pattern. Only buy or sell Euro if all the other positively correlated pairs are giving the same signal. Trade R...
    On February 11, 2016 / By
  • Finance 0

    Dow Jones Industrial Average Drops 99 Points On Telecom Losses

    How Did the Stock Market Do Today? Dow Jones: 15,914.74; -99.64; -0.62% S&P 500: 1,851.86; -0.35; -0.02% Nasdaq: 4,283.59; +14.83; +0.35% The Dow Jones Industrial Average today (Wednesday) fell 99 points as markets reacted to U.S. Federal Reserve Chairwoman Janet Yellen’s testimony before Congress on the health of the U.S. economy. Shares of Tesla Motors Inc. (Nasdaq: TSLA), Twitter Inc. (NYSE: TWTR), and Whole Foods Market Inc. (Nasdaq: WFM) are in focus as the three firms report earnings after the bell. The CBOE Volatility Index (VIX) – Wall Street’s fear gauge – slipped 0.75%. On the economic front, Fed...
    On February 10, 2016 / By
  • Finance 0

    E Meanderings About A Zombie Economy

    Meanderings about a zombie economy… that’s what dominated the questioning around Chair Yellen’s first-phase of 2-day testimony; including whether implementing a NIRP (Negative Interest Rate Policy) is questionable based on legalities. That’s not what they should focus on; rather the implications we discussed last night, and only lightly alluded-to by the Committee (Yellen or the Congressmen) or for the most part ‘skirted’. That’s because they NIRP would be a deleterious tactic.       Chair Yellen tried to walk a careful line (particularly the pre-release remarks), as sparked the early rally we ...
    On February 10, 2016 / By
  • Finance 0

    Insiders Shedding Shares Of Exxon Mobil Corporation

    Amid the oil drop that has plagued the energy industry since the summer of 2014, Exxon Mobil Corporation (NYSE:XOM) has remained the strongest contender. The company has fallen more than 20% since oil prices began to slide, but this pales in comparison to BP and Transocean (RIG), which have fallen more than 40% and 75%, respectively, in the same period. However, recent sell transactions by company insiders and a bearish rating from an oil analyst lead some to believe that Exxon is also falling out of favor. Yesterday, James Spellings and Alan Kelly both shed shares of Exxon. Spellings and Kelly are Vice Presidents of the company, with S...
    On February 10, 2016 / By
  • Finance 0

    Twitter Beats Q4 Earnings And Revenue, Sequential User Growth Declines

    Twitter Inc. (TWTR – Analyst Report) released their fourth quarter fiscal 2015 earnings results, posting earnings of $-0.07 and revenue of $710 million. Currently, TWTR has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below. Twitter:                                                  1. Beat earnings estimates. The company posted $-0.07 per share, beating our Zacks Consensus Estimate of -0.13. This number excludes $0.06 from nonrecurring items. 2. Beat reven...
    On February 10, 2016 / By
  • Finance 0

    Market Sells Yellen’s “Deer In Headlights” Congressional Testimony

    Saxo Bank CIO and chief economist Steen Jakobsen phrased Fed Chair Janet Yellen’s testimony before Congress this way: “The politicians were rude and pretty much clueless … and Yellen often looked like a deer in headlights. Her performance today is probably the worst I have ever seen from seasoned central banker!” After an initial rally attempt this morning, the market had serious second thoughts. S&P 500 15-Minute Chart Email from Steen Steen’s email lead-in this afternoon was rather humorous. Here’s a slightly edited version. Today’s testimony showed US politics and central banking from its worst side: The politicians wer...
    On February 10, 2016 / By