Copper tested and held a multi-month uptrend support line yesterday, but if that level near $2.10 is materially violated it could be forecasting a further slowdown in an already very sluggish global growth rate.
Since we recommended getting long natural gas on September 21st, futures have rallied more than 17% trough-to-peak and we believe there is still more room to run to the upside in both the near and longer terms.
Gold plunged to a 3 month low yesterday amid a hawkish shift in Fed policy expectations this week. Despite the near term breakdown however, the long term trend is still bullish.
Gold futures are currently in a “consolidative pullback” from the post-Brexit highs in June, however the longer-term trend remains a bullish one.
In a move that should have surprised no one (this would have been useful about three months ago), yesterday’s IMF downgrade of the global growth outlook for 2015 and 2016 did put a dent in some markets. The IMF downgrade cut estimates by 0.20% for each year, respectively. The IMF downgrade astutely cited emerging markets[…]
Yesterday I saw in multiple financial news sites (including some of the best like the Wall Street Journal, Financial Times and Reuters) say that stocks were rallying on the hopes of delayed rate hikes and longer 0% interest rates. We and others have (correctly) been saying for months that the “bad” economic data is no[…]
The market rollercoaster continued Friday after markets initially gave back all of Thursday’s rally following the disappointing September jobs report, only to recover midday and squeeze higher into the close to finish solidly positive. So, what does Friday’s turnaround market rollercoaster mean for stocks? Friday’s turnaround happened for two reasons: First, the jobs report was[…]
The importance of this month’s jobs report has been reduced following the September Fed statement, where the FOMC shockingly “moved the goal posts” and made equity market volatility and the international growth outlook primary factors that will decide whether rates increase later this year. That said, this jobs report is still important for multiple reasons,[…]
For the past several weeks, I’ve been telling subscribers to The 7:00’s Report about the headwinds facing the equity market. While some of those can be considered headwinds priced in, others are not priced in, and therefore represent future danger for investors. Here’s a quick rundown of the headwinds priced in, and not priced in.[…]
Yesterday’s selling was uglier than it should have been given the news and fundamentals, and I am now getting concerned that this decline in stocks may be entering a second phase of selling where price action itself is the downside influence. Specifically, extreme weakness in the biotech stocks (and healthcare more generally) and the industrial[…]