The stock market looks like it is making a distribution top into the FED meeting. We may see a small pull back into late week and then higher prices into the 14th. We could see a sharp drop into the
Silver and Miners have remained above their November lows as gold prices continue to edge lower. This divergence could be a bullish sign if it continues to carry. If it doesn’t hold and prices break below the November lows, then
The Australian Dollar is under pressure early following the shock release of the third quarter GDP figures which came in well below market forecasts at 0.5% q/q on a seasonally adjusted basis. The annual GDP growth figure was also impacted,
Last week, Trump made a deal with Carrier (and its parent, United Technologies) to keep 800 jobs in Indiana rather than sending them to Mexico. Indiana agreed to give Carrier $7 million in tax breaks, and Trump assured United Technologies
After the market has a big move like the one the election just created, the next step is for it to be tested with a correction or pause. This test begins to reveal which sectors or stocks or asset classes
US factory orders rose 2.7% exactly matching the Econoday Consensus. As with the trade deficit, economists got this number correct because of the advance report. Thus, this rise will not impact GDP estimates. Diving into the Census Bureau report on
We covered extensively the copper price and copper miners in October, but decided to give the copper market a little bit of time to choose a direction. Right now, copper is at a point where it will start trending pretty soon. We don’t
The Russell 2000 pushes again into the 10% zone of historic high prices (1,388 would be enough for the 5% zone last seen in February 2011). Back in 2011 the index rallied for another couple of months before it lost
We’re moving very well now after a week of consolidation and I’m heavy into stocks since Monday. Steel stocks continue to move well along with banks and some pharma stocks, while precious metals continue to try to build a base.
Next week the Fed will make a decision on whether to hike rates or keep them steady. Since the last time I wrote about this topic, the chance of a rate hike has fallen from 100% to 92.7%. The idea