By Dominic Picarda. Not very much is happening in the indices, which I see as supportive to my bullish case. How so? When markets go sideways or drift mildly lower after strong gains, it’s usually a precursor to a renewal of the prior uptrend. That is just what I am expecting to occur, and probably…
As if we needed it, last week we were served further evidence of the precarious position policy makers find themselves in and the poor state of journalism covering this crucial issue, which is likely to define several generations. This all took place in the events surrounding Janet Yellen’s confirmation hearing before the Senate Banking Committee…
One of the most amazing things occurred the other day: a former Federal Reserve official apologized for being part of the quantitative easing program! Andrew Huszar was an integral member of the Federal Reserve team put in place to launch the most aggressive, unprecedented quantitative easing program in the history of America. Much of what…
By Filipe R. Costa If we pay attention to the official propaganda of governments and central banks around the world then our greatest fear should be of deflation. In this low growth environment of ours, our leaders are making every effort to ensure we don’t succumb to this apparent threat. They have used this financial…
By Zak Mir. Dow, S&P: The Runaway Move As things stand in the wake of Fed Chairwoman in waiting Janet Yellen’s predictably dovish comments on QE, we have the prospect of a runaway move to the upside for the main U.S. equity markets. This is of course over and above any normal seasonal cheer/year end…
With Janet “Yellanke” seemingly underpinning what has been dubbed QE “infinity” well into 2014 during her inaugural testimony last week, reports out from the COT data release that net longs of gold futures were cut by a dramatic 32k contracts last week to 55k – only modestly higher than the lows seen in early summer…
By Filipe R. Costa On November 7th the ECB cut eurozone interest rates to 0.25%, their lowest level ever. OK, so eurozone rates have only been around for the last fifteen years or so, but in the context of current policy of the other major OECD nations this fits the pattern of historical lows. With…
By Dominic Picarda. While there’s a lot of talk of the indices having gone too far, too fast and being overstretched right now, there’s little evidence of this where it counts. Only the DAX is formally overbought according to its daily relative strength index, whereas the S&P 500 and FTSE 100 are not. As such,…
Asian stocks have risen for a third consecutive session after Chinese leaders pledged to allow more private investment in state-controlled industries and expand farmers’ land rights post the Communist Party plenum meeting. The initial reaction to the Chinese political reforms was a negative one but as we’re getting more detail, it looks like this is…
By Zak Mir. Currency Majors: We have an uneasy truce as far as leading currencies are concerned, with the Euro and Sterling attempting to regroup versus the U.S. Dollar. However, it would appear that Dollar / Yen has completed its near term consolidation and is set to rally well above the 100 level. Euro…
