Last week I showed you a daily line chart for GLD which I called a coiling triangle as the price action was getting more compressed as it traded toward the apex. This daily line chart shows the breakout and backtest.
March 3, 2016
Last week I showed you a daily line chart for GLD which I called a coiling triangle as the price action was getting more compressed as it traded toward the apex. This daily line chart shows the breakout and backtest.
Frenetic choppiness ahead of the Employment Report (unimpressive with interpretations likely varied depending upon one’s bull or bear perspective); were overshadowed by focus on Romney’s efforts to support the Establishment old policy approaches; while markets barely noticed the Nigerian Oil
Jamie Dimon says no negative rates for the U.S. Warren Buffett’s comments on climate change. Video length 00:14:51.
One of the hardest things to do in this business is to let your winners run. For whatever reason we are programmed to expect reversals. It’s why so many people try to trade against the trend. I’ve seen it in
The ISM Non-manufacturing PMI disappointed in February, falling to 53.4 overall. As with all PMI’s, the number isn’t so important as the trend. This index PMI had stood at 60 during the August turmoil (July reading) and still 59 as
The ISM Non-manufacturing PMI disappointed in February, falling to 53.4 overall. As with all PMI’s, the number isn’t so important as the trend. This index PMI had stood at 60 during the August turmoil (July reading) and still 59 as
During the day on Friday, we get the Nonfarm Payroll Numbers coming out of America, so that of course will be the most important announcement of the day. With this being said, we look at several different trading opportunities. USD/CAD
EURUSD: With EURUSD rallying strongly on Thursday, it faces further strength in the days ahead. This view remains valid as long as the pair can trade and hold above. Support lies at the 1.0900 level. Further down, support lies at
I’d say this light volume rally causes me to be wary. Seriously, where’s the supporting news for this rally? Earnings ahead are going to be lower and economic data remains weak. But, there will be more cheaply financed stock buybacks.
