I’m a long-term investor. Like Warren Buffett, I’d love to hold a stock forever. Even if that’s not likely, I do expect to keep a stock in my portfolio for five years minimum – preferably 10. So not only do I look for great businesses, but I want to be invested in sectors with strong long-term fundamentals. I can’t think of a stronger sector than healthcare. Sure, technology is vital to our economy and is a source of growth. I like technology. But can you think of a sector whose products will be more in demand over the coming decades than healthcare? You may have heard this statistic: Roughly 10,000 people turn 65 every day. One thi...
Five out of the twelve Federal Reserve Regional Districts currently publish monthly data on regional manufacturing: Dallas, Kansas City, New York, Richmond, and Philadelphia. Regional manufacturing surveys are a measure of local economic health and are used as a representative for the larger national manufacturing health. They have been used as a signal for business uncertainty and economic activity as a whole. Manufacturing makes up 12% of the country’s GDP. The other 6 Federal Reserve Districts do not publish manufacturing data. For these, the Federal Reserve’s Beige Book offers a short summary of each districts’ manufacturing...
EUR/USD 4 hour The EUR/USD bullish breakout reached the first target at the round level of 1.20 (red line). Price is at a decision zone now (bounce or break spot) and could make a larger correction at the 1.20 resistance zone such as a wave 4 (blue). A bullish break above 1.20 could signal a potential uptrend continuation. 1 hour A bearish bounce at 1.20 could create a rising wedge chart pattern (orange/blue) within wave 5 (brown). The EUR/USD does not have to be as large as the wave 4 (blue) on the 4 hour chart because price could also complete a wave 3 of lower degree (purple) at the resistance (red). The size of the expected correction wil...
EUR/USD is trading at 1.1975, after having reached a high of 1.1985. The move is basically around the corner. What’s next afterward? Here are two opinions: Here is their view, courtesy of eFXnews: EUR/USD: A Break Of 1.20 To Target 1.2353; GBP/USD: Fade Rallies Into 1.30 – TD TD FX Strategy Research argues that a break of 1.20 in EUR/USD will likely pushe the market to target the January 2015 high of 1.2353. “A decent inflation number this week will help test the 1.20 level, but we do think we will still see the EUR consolidate a bit before testing levels in the mid-1.20s. On the GBP front, TD notes that this week also brings new Brexi...
Gold prices rose as risk appetite soured, sending capital fleeing for the safety of Treasury bonds and pushing yields downward. The downbeat mood echoed in Fed rate hike bets, flattening the projected policy bath and sending the US Dollar lower. Taken together, it seems hardly surprising that this amounted to a supportive environment for anti-fiat and non-interest-bearing assets. The risk-off move seemed to emanate from energy prices. Indeed, the opening drop on Wall Street coincided with a swoon in crude oil prices and energy shares suffered outsized losses as traders took stock of damage done by Hurricane Harvey. Analysts expect anyw...
Below is a short term daily chart for GLD which shows it breaking out above the top rail of the blue expanding triangle today. The longer term 2-year daily chart shows GLD breaking out and backtesting the top rail of the triangle consolidation pattern. It looks like all the work is now finished with the breaking out and backtesting process. Below is the 5-year weekly chart for perspective. ...
I miss the days at 1.04-1.05 when EVERYONE was screaming parity and 0.90 for the EURUSD. It seems so far in the past right now with just a few pips away from 1.20. Now that everyone is bullish again, I say it is time to tighten our stops and be cautious. The EURUSD has been rising steadily inside a bullish channel since late 2016. Ever since we see it making higher highs and higher lows. Key level for the bullish trend now is at 1.1725. Fail to hold it, and all hell will break loose. Everyone trapped above 1.18 will then look to sell. I see the trend is still bullish. BUT I believe we are not far from making an important high and a reversal. ...
Majority of Asian stock indices are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.61% while the Hang Seng is down 0.49%. The Shanghai Composite is trading up by 0.06%. US stocks displayed a lackluster performance on Monday with the S&P 500 and Nasdaq ending with nominal gains and the Dow slipping in the negative terrain. Back home, share markets in India have opened the day on a negative note. The BSE Sensex is trading lower by 130 points while the NSE Nifty is trading lower by 44 points. The BSE Mid Cap and BSE Small Cap index both opened the day up by 0.2%. Barring oil & gas stocks...
Were you prepared for this action today? At chartfreak, we have been selectively buying Miners and other commodity stocks for weeks, and discussing the bullishness in this sector, despite many articles expressing concern over it. I’m opening up the weekend report, because we have been expecting this break out in Gold for weeks now. I have been posting various Miners chart set ups to show which ones were good low risk buys over the past few weeks, and my reports have been very focused on the bullish side of GOLD, SILVER , & The Miners. In addition to that, we also have been buying and trading commodity stocks like HBM, IPI, TGB, X, FCX, ...