Indian share markets finished in deep red today, breaking a four day positive streak. At the closing bell, the BSE Sensex closed lower by 363 points and the NSE Nifty finished lower by 117 points. The S&P BSE Mid Cap finished down by 0.9% while & S&P BSE Small Cap too finished lower by 1.1%. Asian stock markets finished mixed as of the most recent closing prices. The Shanghai Composite was flat and the Hang Seng fell 0.4%. The Nikkei 225 finished lower by 0.5%. Meanwhile, European markets are lower today as French and German shares fall. The French CAC 40 is off 1.3% while the German DAX is down 1.7%. The rupee was tradin...
USDCAD extended its short term downtrend from 1.2778 to as low as 1.2444, facing the previous low support at 1.2413. A breakdown below this level could signal resumption of the downtrend from 1.3793 (May 5 high), then next target would be at 1.2300, followed by 1.2050. Near-term resistance is at the top trend line of the price channel on the 4-hour chart. A clear break above the channel resistance could indicate that the short term downtrend is complete, then the following upside movement could brin the price back to test 1.2778 resistance....
According to a study by Global Industry Analysts, the global private tutoring market is projected to surpass $102.8 billion by 2018. The Indian private coaching industry was estimated to be worth $45 billion in 2015 and expected to reach $70 billion by 2017. The BYJU’s learning app from Think and Learn Pvt Ltd is one of the most heavily funded EdTech startups in this market. BYJU’S Journey Think and Learn Pvt Ltd or better known as BYJU’s was founded in 2011 by Byju Raveendran in Bangalore. Around 2007, Byju helped some of his friends prepare for the Common Admission Test (CAT), which is the entrance test for India’s best management i...
Since late 2007, the Federal Reserve has embarked on grand-scale collusion with other G-7 central banks to manufacture a massive amount of money. The scope and degree of this collusion are historically unprecedented and by admission of the perpetrators, unconventional in approach, and – depending on the speech – ineffective. Central bank efforts to provide liquidity to the private banking system have been delivered amidst a plethora of grandiose phrases like “unlimited” and “by all means necessary.” Central bankers have played a game with no defined goalposts, no clock rundown, no max scores, and no true end in sight. At t...
Bitcoin (BTC) Makes Yet Another Record High Print Another day, another record high as BTC trades in excess of $4600 on renewed buying interest. The token’s capitalization also rose to just under $76 billion, helping push the total crypto-currency market capitalization to just over $164 billion. With political tensions continuing to ramp up, after North Korea fired a test missile over Japan into the Pacific Ocean, the digital heavyweight is taking advantage of weakness in some of the other traditional fiat currencies. A report by Vietnam news agency Vietnam+ also added to the ongoing interest in Bitcoin when it was reported that the countr...
The latest Conference Board Consumer Confidence Index was released this morning based on data collected through August 16. The headline number of 122.9 was an increase from the final reading of 120.0 for July, a downward revision from 121.1. Today’s number was above the Investing.com consensus of 120.3. Here is an excerpt from the Conference Board press release. Consumer confidence increased in August following a moderate improvement in July,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers’ more buoyant assessment of present-day conditions was the primary driver of the boost in confidence,...
USD/JPY is edging lower, dancing above the 108.10 level after North Korea fired a missile over Japan. The team at Bank of America Merrill Lynch examines the weekly Ichimoku cloud and lists the next levels to watch out for. Here is their view, courtesy of eFXnews: Bank of America Merrill Lynch FX Strategy Research notes that while USD/JPY has been under pressure as of late, it has not closed below the weekly Ichimoku cloud of 108.84. “A breakdown should lead USDJPY to the 61.8% retracement of the Brexit low to Trump high of 106.52. Below that are pivot levels at 105.30 and 104.30,” BofAML argues. ...
I don’t often make political commentary in my missives unless it specifically relates to the financial markets. However, today I want to make an exception and tell you what I’ve witnessed. As you are probably aware, I live in Houston where we are currently being hit by the worst hurricane/storm since 1986. Currently, I am one of the lucky ones. As of this writing, the rising waters have not yet reached the house, the power is still on and the family is safe. For all of this, I am thankful. For thousands in the Houston area, they were not so lucky. I have dear friends, clients and colleagues reaching out to me with tales of complete loss...
A key trait of the S&P 500’s strong performance this year has been that the major moving averages of the index and its industry groups have all been trending higher all year. In fact, there hasn’t been a single day all year where the S&P 500’s 50 or 200-day moving average (DMA) was lower than it was the week before. That’s indicative of a solid overall trend, but lately, there have been some cracks in the armor that we have been highlighting to clients over the last couple of weeks. From a longer-term perspective, practically every industry group has a rising 200-Day moving average. As shown in the chart below, just last week ...
Introduction From the company website: NuLife Sciences (NULF) is a biomedical company focused on medical research and technology that has the potential to address significant unmet medical needs in applications including transplantation/regenerative medicine/cell therapy/organ and tissue transplants. Through its wholly-owned subsidiary NuLife BioMed, it is currently working on advancing human organ transplant technology based upon a patent protected and unique proprietary method (“NuLife Technique”) that could potentially eliminate the need for an organ or tissue match and the necessity for anti-rejection drugs. We recently had ...