The oil market is moody as the market is trying to balance a -3.595 million barrel drop in crude supply against a 1.402-million-barrel increase in gasoline supply and a larger 2.048-million-barrel jump in distillates. The American Petroleum Institute did report a drop of 462,000 barrels in Cushing, Oklahoma which is a sign that we are seeing supply drop in the key delivery point. So, while the oil market floats during seasonal weakness, the signs are becoming clearer that the global oil market is getting in balance as US oil production is headed towards a short-term peak. Peak shale oil production is a concept that we saw coming and when we...
Yesterday’s signals were not triggered as there was no bearish price action at $3934.00. Today’s BTC/USD Signals Risk 0.75% per trade. Trades may only be entered until 5pm New York time today. Long Trades Long entry after a bullish price action reversal on the H1 time frame following the next touch of $3978.85 or $3600.00. Place the stop loss 1 pip below the local swing low. Adjust the stop loss to break even once the trade is $50 in profit by price. Take off 50% of the position as profit when the trade is $50 in profit by price and leave the remainder of the position to ride. Short Trade 1 Short entry after a bearish price action revers...
According to a recent report by Interactive Advertising Bureau, digital ad spending accounted for $17.6 billion during the third quarter of 2016, a robust 20% growth over the year. Google and Facebook accounted for 99% of the growth in the quarter, with Google raking in 54% of the growth, Facebook 45% and the remaining 1% being left for the rest of the world. Clearly smaller ad-tech firms are struggling. Photo Credit: Thos Ballantyne/Flickr.com Rocket Fuel’s Financials Redwood City-based Rocket Fuel (Nasdaq: FUEL) has failed to regain its Unicorn status. Earlier this month, Rocket Fuel reported its second quarter results that failed to re...
Indian share markets surged further in the afternoon session and finished in the green for the second straight session on heavy buying in realty stocks, metal stocks and bank stocks. At the closing bell, the BSE Sensex closed higher by 276 points and the NSE Nifty finished up 87 points. The S&P BSE Mid Cap finished up by 1.4% while & S&P BSE Small Cap too finished up by 1.2%. FMCG stocks finished in red. Asian stock markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.91% and the Nikkei 225 rose 0.26%. The Shanghai Composite lost 0.08%. European markets are lower today with shares in ...
Financial and technology stocks remain the top sector performers for the trailing one-year period, based on a set of ETFs. The bullish momentum has cooled in recent weeks for these equities, but the same is true for the market generally, leaving the two sectors comfortably in the lead vs. the rest of the field. Echoing last month’s update, Financial Select Sector SPDR (XLF) still holds the top spot for one-year results. Although it’s off its recent highs, XLF’s total return is currently a sizzling 29.5% for the year through Tuesday (Aug. 22). Technology Select Sector SPDR (XLK) is almost as strong, posting a 25.2% total return for the...
One question I get on a regular basis is this: Do U.S. corporate bonds have further room to produce positive returns or are they oversold and due for a correction, if not an outright sell-off? Certainly, the performances in both the investment-grade (IG) and high-yield (HY) arenas thus far in 2017 have been among the stronger ones in the realm of global fixed income, and in my opinion, given where spread levels currently reside, it’s a fair question. Let’s take a look at where the IG and HY markets stand and try to answer this query, or perhaps even better, see if there is an alternative approach that fixed income investors shou...
EUR/USD The EUR/USD pair continues to grind above the 1.17 level as we await words from ECB President Mario Draghi from Jackson Hole, Wyoming. Because of this, I think that the 1.17 level underneath will be considered supportive, and as you can see on the chart I have drawn a bullish flag. I believe that the market is ready to go higher if he says nothing overly dovish during the meeting. If we break out to the upside, I think that the market is ready to go looking towards the 1.20 level above. A breakdown below the bottom of the bullish flag would send this market looking for support at the 1.15 handle. Either way, hang on, it’s about to g...
According to a recent study by Bankrate.com, only 13% of millennials said they’d invest in the stock market. Cash is king. Naturally, this phenomenon has the majority of Wall Street experts besides themselves as stocks seemingly are the only game in town. Millennials (those born 1977-1995), have so much precious time to weather losses. The cohort is ripe for brainwashing. Wall Street boasts defiantly: “You need us more than we need you!” Yet, many in this group shrug and ignore. Main Street millennials appear to know something Wall Street professionals don’t. I hate to break it to the experts. The skepticism is spreading. Generatio...
Donald Trump held what amounted to a campaign rally in Phoenix on Tuesday night and I don’t know if you heard, but it went great. You can read the full post linked above for the details, but suffice to say markets weren’t particularly enamored with it. While pretty much everything he said was egregious (he was in rare form), these soundbites were particularly concerning for traders: “If we have to close down our government, we’re building that wall.” I think we’ll end up probably terminating Nafta at some point” “U.S. stock-index futures declined after President Donald Trump’s comments about ending the North American tr...
Even before Ray Dalio doubled down on his warning that the US has become as dangerously fragmented as during the pre-World War II days of 1937, prompting him to “tactically reduce” risk, some of the biggest names on Wall Street were selling. Two weeks ago, T.Rowe Price made waves when it said that it had cut the stock portion of its asset allocation portfolios to the lowest level since 2000. The Baltimore-based money manager said it also reduced its holdings of high-yield bonds and emerging market bonds for the same reason. Roughly at the same time, in its mid-year review, Pimco said that “with the macroeconomic backd...