The dollar index fell into a key support level yesterday as the market remained in “Trump-Off” mode. If support just above 100 is violated, dollar index futures could quickly fall back to the uptrend line pictured above, near 98.00 Donald Trump and British PM Teresa May were the two major influences on the currency markets […]
Stock Market Update excerpt from the Sevens Report: Foreign markets were open yesterday, and generally traded lower on consolidation, but overall the weekend was quiet and nothing negative occurred. Stocks finished last week little changed, as a Friday rally helped recoup losses from earlier in the week. Some of the shine was taken off the […]
Turning to gold, we saw an unwind in the Trump Trade that has dominated the markets since the election yesterday morning. Reason being, the markets did not gain the clarity they were hoping to from Trump’s press conference Wednesday, so basically investors were left disappointed. Stocks pulled back, the dollar declined and bonds rallied, all […]
Wednesday was volatile as Trump’s press conference induced a mid-day sell off, but stocks recovered after lunch to finish with moderate gains. The S&P 500 rose 0.28%. The markets are now experiencing “Trumponomics.” The Sevens Report, a daily macro-economic report for financial advisors, just released it’s “Stock Market Update: Investors Guide to Trumponomics.” Stock Market […]
The dollar index traded down to a one-month low yesterday as the markets grew cautious after Trump failed to divulge details of his administrations’ plans after inauguration, most notably corporate tax reform.
Stock Market Update excerpt from the Sevens Report: Stocks gave back most of Friday’s gains on Monday thanks mostly to digestion of last week’s rally ahead of some important catalysts later this week (Trump’s speech Wednesday specifically). A sharp drop in oil also weighed on the averages. The S&P 500 fell 0.35%. Stocks started Monday […]
The 10 year Note yield became over extended in the wake of the election and so far in January has been correcting lower. Looking ahead, a continuation of that correction towards the 2.25% area should not come as a surprise.
Stock Market Update from The Sevens Report: Stocks declined for the first time in 2017, but the losses were small, as disappointing retailer earnings offset more decent economic data ahead of the first big catalyst of the year… the December jobs report. The S&P 500 declined 0.08%. Stocks were flat at the start of Thursday […]
While the longer term uptrend in the dollar index remains very well intact, the steeper, post-election uptrend has neared a “tipping point” on the daily chart.
Stock Market Update excerpt from The Sevens Report. Stocks surged to start the new year as a resumption of the Q4 “Trump/Reflation” trade, along with strong economic data sent stocks moderately higher to start the year. The S&P 500 rose 0.85%. Stocks were higher from the outset Tuesday in part because they needed to play […]