The Dow is at, or very close to a 90-yearresistance line: Could a top be in, or is it extremely close?What I do know, from my own research, is that major Dow peaks are extremelyimportant when it comes to Silver rallies. The best part of Silver rallies often comeafter major Dow peaks, and can last for years.Below, is a another long-term chart of theDow (with a Silver chart at the bottom):I have don...Read More
As the coronavirus continues to spread, global financialmarkets are showing the symptoms of investor unease. Chinese and emerging markets stocks have taken a big hitover the past several days, as have commodities. Crude oil prices have dropped13% over the past two weeks while copper has seen a 12% drop on concerns aboutthe impact of the China virus on global demand. Gold is faring much better as s...Read More
Recession, recession - will wesee one in 2020? And will it bring about a rally in gold then?. True or false?In today’s article, we’ll test the ‘recessionin 2020’ narrative and we’ll then show you what it all means for the gold market.One year ago, we wrote that “we do not expectrecession next year or even in 2020”. We were right: the U.S. economy did notsl...Read More
TheFed kept rates unchanged and while it was not immediately preceded by majorprice moves in the PMs, the no-change decision was followed by bullish priceaction in the following hours. This action extends into today’s pre-markettrading.Mostinterestingly, however, the USD Index repeated its daily reversal confirming that lower values are to be expected. This confirms our yesterday’sanal...Read More
The Dow is at, or very close to a 90-yearresistance line: Could a top be in, or is it extremely close?What I do know, from my own research, is that major Dow peaks are extremelyimportant when it comes to Silver rallies. The best part of Silver rallies often comeafter major Dow peaks, and can last for years.Below, is a another long-term chart of theDow (with a Silver chart at the bottom):I have don...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 376,40146,30986,056192,300553,114654,757685,479 Change from Prior Reporting Period 1,608-10,789-55,418-20,145-11,234-73,955-77,441 Traders 22856825857311180 Small Speculators LongShortOpen Interest 60,78230,060715,539 -4,335-849-78,290 non reportable posi...Read More
The US stock markets dramatically surged mostly in a straight line since mid-October. This extraordinary rally started when the Federal Reserve announced it would resume expanding its balance sheet for the first time in years. The deluge of new liquidity from that quantitative-easing bond buying has again acted like rocket fuel for stock markets. After shooting vertically they are in real...Read More
By: Ira EpsteinGold higher lows and higher highs. $1,567.90 key short-term support. 18-dma at $1,568+Read More
Amazon shared a blowout earnings reportThe seemingly endless worry surrounding the impact of the wide-spreading coronavirus on the economy, trade, travel, and health sent the Dow 600 points south on the day to close out January. In fact, all three indexes closed deep in the red, with the S&P off a triple digit pullback as well. However, paring some of the Nasdaq's losses throughout the day was an...Read More
The coronavirus outbreak is raising concerns about the global economy Stocks started the week on a slow note due to ongoing concerns around the coronavirus, sending the Dow Jones Industrial Average (DJI) reeling and the Cboe Volatility Index (VIX) surging higher. This theme looks to be continuing as the week wraps up too, with the Dow eyeing a huge pullback at the time of this writing. Traders mon...Read More
Sea stock has added an enormous 222% over the past 12 monthsSoftware name Sea Ltd. (NYSE:SE) more than tripled in 2019, and over the last few months have been on a steady trend higher. Just last week SE touched a record high of $46.50, and is not far off this afternoon, trading at $45.24 at last check. With a layer of support embedded in the rising 20-day moving average, and the shares now up 222%...Read More
Entertainment Arts' fourth-quarter revenue outlook missed the mark Video game specialist Electronic Arts Inc. (NASDAQ:EA) just stepped into the earnings confessional last night, and sentiment surrounding the firm's fiscal third-quarter report is mixed. While EA did post profits of $2.52 per share and revenue of $1.98 billion, both of which beat analysts' estimates, the stock can't shake its less-t...Read More
The Dow is eyeing its first monthly close in the red since AugustThe Dow Jones Industrial Average (DJI) has slipped even further below breakeven by midday as fears over the coronavirus completely overshadow any other corporate news. The S&P 500 Index (SPX) isn't close behind, while the Nasdaq Composite Index (IXIC) erased its early morning gains, despite an impressive earnings report from Amazon....Read More
AMZN, VRTX, and DECK stocks are earnings winners this morningEarnings have been in focus all week on Wall Street, and that's continuing today, with a number of big names making notable moves after their quarterly reports. Leading the way of course is Amazon.com, Inc. (NASDAQ:AMZN), as the e-commerce company surges 9.3% to trade at $2,044.83 following the company's better-than-expected quarterly re...Read More
A tweet from a Bloomberg reporter said Marathon was exploring the sale of its Speedway unit Bloomberg is reporting that Marathon Petroleum Corp (NYSE:MPC) is exploring the sale of its Speedway unit, alongside an IPO, and that has shares of the oil refining specialist soaring in pre-market trading. This comes after an announcement in October that the company would spin off its gas and convenience s...Read More
IMB's CEO Ginni Rommetty will be replaced by its cloud business head Arvind KrishnaDow name and chip concern IBM (NYSE:IBM) is moving 4% higher in electronic trading, set to open near $142.22, after news broke that the company's CEO Ginni Rometty will step down in April. Rometty will be replaced by the company's cloud business head Arvind Krishna, who last year headed the company's $34 billion acq...Read More
The WHO has declared the coronavirus a global public health emergencyU.S. stock futures are pointing to a mixed open for stocks, with earnings and the latest coronavirus headlines in focus. Traders are cheering a blowout report from FAANG name Amazon.com (AMZN), while Caterpillar (CAT) shares are moving lower due to the blue chip's disappointing 2020 outlook. Meanwhile, the World Health Organizati...Read More
A new book put out by a so-called economic and political expert espouses the view that narratives shape reality and perception, which to some extent is true. But listen to Charles Nenner and learn about cycles. Perhaps it's the cycle that shapes the narrative and reality. Right now the narrative is all about the Coronavirus and its impact upon the economy. But perhaps, if it wasn't the virus, it w...Read More
Slides and Sources: https://www.itmtrading.com/blog/time-...A recent IMF survey of 17 advanced economies looked at every financial crisis between 1870 through 2013 and found that there is "a strong link between inequality and financial stability."In 1971 the average wage was $9,870. In 2019 the average was $48,672 according to the BLS (Bureau of Labor Statistics). Which would you rather have? But...Read More
*This video was recorded on 1/23/20This DoubleLine Event at the Peninsula in Chicago features Jeffrey Gundlach and Jeffrey Sherman as they discuss Macro & Markets, moderated by Sam Lau.Jeffrey Gundlach is the Chief Executive Officer and Chief Investment Officer of DoubleLine Capital. He is recognized as an expert in bond and fixed income investments. His investment strategies have been featured in...Read More