The tech bellwether, Intel has had some tough trading days in the last few weeks. In My 2012, INTC made an eight year high of 29.27. Since then it has been downhill for the semiconductor behemoth. First, the news came in August that Warren Buffet’s Berkshire Hathaway had dropped its Intel stake. Berkshire shed all…
Reserve Bank of Australia (RBA) Board is set to meet on Tuesday June 5th and the decision will be announced at 2:30 PM local time (12:30 AM EST). This month, the impact of RBA’s cash rate decision and statement will be felt not only by the Australian equity market but also by its currency. RBA’s current cash…
Influential Australian business leaders are urging RBA to cut rates in its June 5th meeting: The chief economist at AMP Capital, Shane Oliver, who is pushing for the cut, said he did not expect it to be fully passed on to borrowers. “That’s one of the reasons the Reserve Bank should and will cut 50 points,” …
Past few weeks have been quite brutal for the single currency of the eurozone against the greenback. By Memorial Day, EUR/USD had declined everyday in May except for two. Now it seems that the pair may be setting up for a bounce. Since mid-February, EUR/USD has been forming a descending triangle. The lower boundary line…
USD/JPY was in the midst of a potential saucer – or rounding bottom – pattern. However, the mysterious Yen has struck again in the aftermath of the news that ECB is stopping lending to some Greek banks and its President Mario Draghi signaled the ECB won’t compromise on key principles to keep Greece in the euro…
Small cap Russell 200 Index ($RUT) is very precariously positioned. At the moment it is flirting with the neck line break of a potential Head & Shoulder pattern. The left shoulder of the pattern was formed at 833.02 in early Feb and then in mid-Feb – making a double left shoulder. The head of the…
In recent times, one of the flight-to-safety trade in currency markets has been USD/JPY. When the market uncertainty goes up, JPY goes up against USD. USD made an all time low of 75.57 on October 31, 2011. It again came down to within 50 PIPs of this low in early Feb ’12 before rising up to 84.178…
For most of 2011, Microsoft (MSFT) oscillated within a horizontal channel with a lower bound in 23-24 range and upper bound in 27-28 range. There was false breakout in early 2011, but it did not last long and price fell back into the channel. Mr. Softy finally made a move to break out of this…
This is an after the fact analysis. In hindsight things look clearer and they provide an understanding that is very useful in analyzing emerging patterns in the future. Dow made a four year high of 13,289 on March 16, 2012 – Point X in the chart below. Then it retraced to 13,002 (Point A) by…
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