HUI, the Gold Bugs Index, is close to triggering its first buy signal on the weekly chart in more than two years. The first proved to be a dud, and it sent this popular trading vehicle into a ratcheting downtrend that would have driven most bulls to the edge of despair. As a result, skepticism toward the current rally undoubtedly is high. But traders should be prepared for a pleasant surpr...Read More
The Fed didn't just fold on Wednesday, it crumpled, capitulated. A long time ago we had figured out that when push came to shove, this is what it would do. However, we thought that it would take a market crash to force it to change course, in order that it could use that as solid justification for a U-turn, instead of which it only took a crashlet, or the start of a crash.The Fed's "Prime Direct...Read More
By: Jordan Roy-Byrne CMT, MFTAFirst we need to define what a breakout actually is. Its when the price breaks a pattern or a range and a new trend is therefore established.Today, people are all too quick to refer to almost every move higher as a breakout. Just google "Gold Breakout" and you'll see what I mean.Sure, closing above $1300 was a breakout for Gold. But that's hardly significant. If and...Read More
What the indexes' recent strength could mean for stocks in the short termAfter a rough fourth quarter of 2018, the stock market has been in rebound mode in 2019. In fact, the Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) just notched their sixth straight weekly wins -- a feat not accomplished for either index since late 2017. What's more, the strength the Dow and Nasdaq have shown...Read More
We are not always correct in our calls about the market. Professional researchers and analysts must understand that attempting to accurately predict the future outcome of any commodity, stock, index or ETF is impossible to be 100% accurate. Yet, we are pleased that our proprietary price modeling and analysis tools continue to provide us with very clear triggers and alert us to price mo...Read More
Google parent Alphabet is slated to report earnings after the closeThe Dow Jones Industrial Average (DJI) is modestly lower at midday, weighed down by healthcare and energy stocks. Exxon Mobil (XOM) is currently the worst Dow stock, dropping with front-month oil prices, which are down 2.2% at $54.08 per barrel, at last check. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are slightly hig...Read More
Early investors stand to reap the rewards as a new technology looks to change everything.One research firm - which recommended Google and Amazon before they became household names - has built a worldwide reputation of identifying profitable tech trends well before Wall Street and the talking heads on T.V.And just recently, they've uncovered a technology that's already being labeled "humanity's las...Read More
Here are five Fastmarkets MB stories you might have missed on Monday February 4 that are worth another look.Automaker Ford Motor Co, China's Huayou Cobalt and South Korean battery supplier LG Chem have joined forces in a blockchain project to monitor cobalt supplies from the Democratic Republic of the Congo, an executive at Ford said. Lead's three-month price on the London Metal Exchange surg...Read More
There's reason to believe DIS could find technical support going forwardWalt Disney Co (NYSE:DIS) is preparing to report earnings after the close tomorrow, Feb. 5, and there's notable options data to consider on the Dow component ahead of the event. DIS currently has a Schaeffer's put/call open interest ratio (SOIR) of 1.40, showing put open interest outweighs call open interest among contracts ex...Read More
The drug met the main goal in two late-stage studiesThe shares of Incyte Corporation (NADSAQ:INCY) were pointed higher in pre-market trading, after the company's experimental atopic dermatitis treatment met the main goal in two late-stage studies. The drug, which is being marketed as Olumiant, was jointly developed with pharma giant Eli Lilly (LLY). However, INCY shares have since turned lower, d...Read More
First we need to define what a breakout actually is. Its when the price breaks a pattern or a range and a new trend is therefore established. Today, people are all too quick to refer to almost every move higher as a breakout. Just google “Gold Breakout” and you’ll see what I mean. Sure, closing above $1300 was a breakout for Gold. But that’s hardly significant. If and when...Read More
YELP shares have been gaining since their November bottomYelp Inc (NYSE:YELP) is trading up 2.5% at $38.10 after Goldman Sachs initiated coverage on the review specialist with a "buy" rating and $42 price target. This has YELP stock set for a second consecutive close above the 80-day moving average following two months of trading below the trendline, while the 20-day moving average has been strong...Read More
Turkey's imported flat steel volumes fell by 17.66% year on year in 2018, according to data released by the Turkish Statistical Institute (TUIK) last week.Turkey imported 6,908,686 tonnes of flat steel in January-December 2018, down from 8,390,305 tonnes in 2017.The decrease was largely due to weak demand for steel in Turkey's local market through 2018, especially in the second half of 2018, sourc...Read More
* FTSE 100, FTSE 250 both up 0.2 pct * Ryanair weak after Q3 report* Ferrexpo worst mid-cap faller (Updates to closing prices, adds PMI data)Feb 4 (Reuters) - London's blue-chip stocks climbed to theirhighest in more than two months on Monday as gains in oil sharesand consumer staples offset deep losses in miners, while airlineRyanair slumped after a disappointing quarterly report.The FTSE 100 ind...Read More
The company's Jeuveau was approved to treat frown linesThe shares of pharmaceutical concern Evolus Inc (NASDAQ:EOLS) are soaring this morning, after the Food and Drug Administration (FDA) late Friday approved the company's Jeuveau to treat frown lines. The regulatory body back in May declined to approve the Botox rival, but accepted a resubmitted marketing application in August. Out of the gate to...Read More
Traders must watch FDN's progress around its 200-day trendline over the next few sessionsThe FANG stock-loaded First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) is entering a historically bullish month, according to data from Schaeffer's Senior Quantitative Analyst Rocky White. Over the past 10 years, FDN has emerged as the top exchange-traded fund (ETF) performer during the month of Februa...Read More
Wall Street may experience a post-Super Bowl hangover todayU.S. stock futures are pointing to a muted open for today's post-Super Bowl session. Dow Jones Industrial Average (DJI) futures are trading below fair value after another weekly win, and Nasdaq-100 Index (NDX) futures are also weak ahead of earnings from Google parent Alphabet (GOOGL), due out after the close. On the data front, factory o...Read More
How you can transform lagging indicators into leading indicators.Despite the strong January kick-start to 2019, many investors are still apprehensive of what's to come, especially considering some of the latest market-moving events -- think Fed policy announcements, U.S.-China trade negotiations, and earnings season, to start.While it's certainly no crystal ball, becoming familiar with the various...Read More
China's crude stainless steel output rose 3.6% to a new high in 2018, according to data released by the China Stainless Steel Council.The country produced 26.71 million tonnes of crude stainless steel last year, up 940,000 tonnes from 25.77 million tonnes a year earlier, according to the statistics released late on Thursday January 31. Of the total, 48% or 12.82 million tonnes consisted of 300-ser...Read More
Newly released CoT data shows VIX futures players went net long at just the wrong time"...the sentiment landscape suggests there is fuel to push the market higher. That said, a slew of potential technical resistance levels remain overhead, so be cognizant of these levels to appropriately assess risk. Multiple uncertainties continue to linger -- including the shutdown, as the bill signed by Trump o...Read More