Advanced Monthly Retail Sales For May increased by 0.3% less than the consensus forecast of 0.5%. The Core Retail Sales excluding auto increased by 0.1%, also lower than the estimates of 0.4%. The unemployment claims jumped to 317K more than 313K for last week and 306K estimates. The combined effect was weakening of S&P 500 futures…
7:00 AM Reading List Euro hovers near 4-month low; kiwi up on RBNZ rate hike 86 per cent Indian CFOs optimistic about economic growth Lululemon, Finisar, Target are stocks to watch Gold looks to extend win streak to four ECB’s backroom deal with Germany World Bank cuts 2014 global growth forecast U.S. Economic Recovery Looks…
Yesterday, we alerted for a possible trade in our seasonal long British Pound in June strategy if the currency pair closes above previous day’s close. It did so our trade is one. For tracking purposes we will use the yesterday’s close. Go long GBP/USD at or near 1.67900. Three out of four entry strategy generated this…
Since Dec 31st 2013, the upper trend-line touching the swing highs was acting as a resistance. The resistance broke on June 5th and S&P 500 traveled up. Today it started to come back to the resistance line. The touching of upper-resistance line coincided with the bounce off for bonds from swing lows. Bond bounce started…
Trading is a high intensity activity. Succeeding takes a tremendous amount of effort and continuous self-improvement. Inspiration from any and all sources are always welcome. Which brings us to a classic 2009 USC Commencement Address by Arnold Schwarzenegger. Short version is below. In short The Guvanator’s list is: Trust Yourself No Matter What Others Think Break The…
7:00 AM – Reading List Strong Growth in Mortgage Application Futures Decline on World Bank Growth Forecast Trillion-Dollar M&A Quarter UK Unemployment Falls To 5-Year Low China ramps up spending to spur economy 9:00 AM – S&P 500 15 minute view and potential move 12:00 Noon – S&P 500 15 min – ABCD Pattern with D…
A week ago, we wrote about going long in British Pound in June. The favorable time for this trade starts in early June. The price action of GBP/US pair tells us that this trade is getting ripe for getting into soon. We will watch it closely and if the entry signals are generated then will…
The market made all time highs on Monday June 9th, 2014. Early on Tuesday morning, S&P 500 futures are treading water – below 3 points. They have been underwater since yesterday’s close. Now, they seem to be making a quite turnaround. Overnight, Asian markets rose to three-year highs. Shanghai rose by +1.1%, Hong Kong by +0.9%, Seoul by…
Trans Canada (TRP) Bullish Engulfing Trans Canada Corp (TRP), a Natural Gas Utility made a bullish engulfing pattern on Friday June 6th. On weekly chart TRP has been on an uptrend since March 2009. The trend line is conventionally drawn by connecting the lows, which includes the flash-crash low of first week of May 2010. Since June…
The historic ‘going negative’ action of the ECB on June 5th, coupled with good Non-Farm Payroll report from US, is dampening the allure of ‘Sell in May and Go Away’ approach to investing this year. We will talk about that approach in another post, but the combined effect of the two major events of the first…
You must be logged in to post a comment.