Today’s topic is the U.S. business cycle. Manufacturing PMIs moved up to a new cycle high and the household delinquency rate dropped to a new cycle low. Bank lending standards continued to ease. Video Length: 00:06:28
September 12, 2018
It has been a tricky last few days. The bounce in the Russell 2000 off the 20-day MA and key support of 1,705 has struggled to follow through on what should have been a strong support test. Technicals are a
With so much focus on bitcoin lately, we’ve added a new weekly update that tracks the three largest cryptocurrencies by market share: bitcoin, Ether, and Ripple. According to Wikipedia, a cryptocurrency is “a digital asset designed to work as a medium
The October natural gas contract tried to break out higher this morning only to reverse hard and settle flat on the day. Yet again the October led the way higher this morning as later contracts lagged, and we continue to
The Beige Book was released today with mostly positive findings. Districts generally reported moderate growth across the board. Transportation and manufacturing industries claimed moderate growth, while construction and real estate were slightly less positive. Our Bespoke Beige Book Index is
Is it a shortage of workers, or a shortage of work? Structural issues with Americans and who they are, or macro issues about which Americans have been fed a load of crap for more than a decade? You can see
The US stock market just keeps crushing historical records: longest bull market ever, S&P rising above 2,900, two trillion-dollar stocks, an unprecedented divergence between US stock and the rest of the world, and now – the strongest ever rally during a
WHAT IS CNH AND CNY AND WHAT ARE THE MAIN DIFFERENCES? CNH refers to the Chinese Yuan in the offshore market, which is outside of Mainland China (the onshore market). China’s capital markets, including the FX market, are controlled and not fully
Miners performed well today and confirmed yesterday’s gap reversals. We should see (at least) a 1-2 week rebound. I’ll adjust my portfolio back to net-long sometime tomorrow unless prices mysteriously collapse overnight. Several individual miners formed bullish reversal patterns (see
Last night, we looked at the sardonic bull wearing a crown with 5 distinct warning signals. To review, the first one was certainly Semiconductors (SMH). Today, not only did SMH confirm the warning phase, it also broke the 200 DMA,
