EUR/USD 4 hour The EUR/USD showed a classical break, pullback and continuation pattern above the 1.15 resistance level. Price is still in a wave 3 (orange) momentum which could last till the next round resistance zone at 1.1750. Once wave 3 is completed, price will most likely build a wave 4 correction which should then see price continue higher via the waves 5 (brown/purple) within wave 3 (green). 1 hour The EUR/USD is building a rising wedge chart pattern which could be a first signal that wave 3 (orange) is coming close to its completion. USD/JPY 4 hour The USD/JPY has moved below the 161.8% Fibonacci target which makes a 5 wave (orange) s...
Asian stocks markets were trading mixed as market focused on the weaker dollar and the upcoming two-day policy meeting of Fed later this week. The Nikkei 225 is up 0.86% while the Hang Seng is up 0.41%. The Shanghai Composite is up 0.18%. US and European markets closed lower in their previous sessions. Meanwhile, Indian share markets have opened the day marginally higher. BSE Sensex is trading higher by 54 points and NSE Nifty is trading higher by 15 points. S&P BSE Mid Cap and S&P BSE Small Cap are trading up by 0.1% and 0.4% respectively. Indices Close to Peak Valuations Measured Against Sales For Indian investors, the...
Crude oil prices tumbled after tanker tracker Petro-Logistics SA said OPEC output will exceed 33 million barrels per day in July, making it the largest yet this year. That stocked skepticism about the ability of the cartel-led production cut effort to work off a global supply glut and boost prices. All eyes now turn to St. Petersburg, where representatives of major producers taking part in the coordinated output reduction scheme will meet to discuss their progress. Prices may fall further if comments from the sit-down maintain the status quo without signaling deeper cuts are a possibility. Gold prices rose as the US Dollar fell with fron...
The first half of 2017 marked the worst first-half performance for crude oil since 1998. The price of West Texas Intermediate (WTI) and Brent crude both fell 14% in the first half of the year. Coal and natural gas also declined by more than 10% in the first half. Nearly every segment of the energy sector was hard hit. The Energy Select Sector SPDR ETF, which represents the largest energy companies in the S&P 500, declined by 14.8% in the first half. The S&P Oil & Gas Exploration & Production SPDR ETF, which is more representative of the smaller oil and gas drillers, had a total shareholder return (TSR) of -22.9%. Among the 20 ...
Kinder Morgan (KMI) reported earnings last week, including a long expected dividend hike and a pleasantly surprising stock buyback. In many ways the stock performance and corporate finance moves of KMI reflect the Master Limited Partnership (MLP) sector as a whole. Pre-Shale Revolution, Kinder Morgan Partners (KMP) had rewarded investors with steady distribution growth and modest (for their size) investments in new projects. Their investor presentation included a slide labelled “Promises Made, Promises Kept” with a table showing these consistently higher payouts. Not all companies make old investor presentations available on their website...
Hey guys, as summer is here my writing frequency went a little down, sorry for that but summer time is one of the best times of the year :). Nevertheless let’s have a look at the current development of the stock market. Although I said my main investment focus until the end of the year will be on investing in ETF, there are currently 2 companies getting very close to my buying zone, and I am currently thinking of adding one of them to my portfolio. The two companies are 2 big players in their sector and one the oldest companies in the US. I am talking about AT&T (T) and General Electric (GE) both of them experienced a decent drop in the...
Indian share markets edged higher in the afternoon session and finished the trading day on a firm note. At the closing bell on Friday, the BSE Sensex stood higher by 124 points, while the NSE Nifty finished up by 42 points. The S&P BSE Mid Cap finished flat while & S&P BSE Small Cap finished down by 0.1%. Gains were largely seen in software stocks, oil & gas stocks and consumer durables stocks. Let us now have a look at some of the major events that market participants will be tracking today. Reliance Industries outperforms across segments Reliance Industries hit a 9 year high of 1587 intra-day after a strong show...
“He who sows good seed is the Son of Man, the field is the world, the good seed the children of the kingdom. The weeds are the children of the evil one, and the enemy who sows them is the devil. The harvest is the end of the age, and the harvesters are angels. Just as weeds are collected and burned up with fire, so will it be at the end of the age. The Son of Man will send his angels, and they will collect out of his kingdom all who cause others to sin and all evildoers. They will throw them into the furnace, where there will be crying and grinding of teeth. Then the righteous will shine like the sun in the kingdom of their Fa...
In the latest Sunday Start report from Morgan Stanley’s Andrew Sheets, the bank’s chief cross-asset strategist looks at the current state of the market – “the S&P 500, Russell 2000 and Nasdaq have hit all-time highs. Volatility has plunged back down near all-time lows. Credit is tighter and yields have been stable” – and asks the same question posed by virtually everyone else in recent weeks : “what rattles this market. What breaks the egg?” Sheets, like the bank’s equity research team (which recall believes the current market is a rerun of 1999 and sees up to another 30% surge in st...