S&P Fails at Key Resistance
The S&P 500 tested but failed at an important downtrend resistance line on the daily chart yesterday, and that leaves the current path of least resistance lower until that technical level (2360) is violated on a closing basis.
Oil Plunge
WTI crude oil futures plunged well over 3% yesterday as the steady trend of climbing US oil production continues to weigh on the fundamental backdrop of the market.
Tom Essaye on “The Bell” Podcast with Kenneth Polcari and Adam Johnson
I was a guest on Adam Johnson’s podcast “The Bell” last week. We talk about the reality of tax reform, tax trade, geopolitics, and the bond market, straight from the NYSE Floor. We were also joined by Kenneth Polcari, Director, O’Neil Securities, director of NYSE Floor. Get a free two-week trial of Tom Essaye’s Sevens Report—everything you […]
Are British Elections a Bullish Gamechanger for the Pound? April 19, 2017
The Sevens Report is the daily market cheat sheet our subscribers use to keep up on markets, seize opportunities, avoid risks and get more assets. The pound was the big mover on Tuesday as it surged 2.2% following PM May’s call for elections in June. (As a bit of background, May calling for snap elections […]
Gold Futures Pull Back
Gold futures rallied into resistance/our initial upside target just shy of $1300 yesterday before risk-on money flows spurred a reversal as fear bids unwound.
Last Week and This Week in Economics, April 17, 2017
Last Week in Economics – 4.10.17 The two important economic numbers came out Friday when markets were closed, so they didn’t receive much attention, although they should have. Both numbers (CPI and Retail Sales) further eroded the reflation trade thesis and will increase worries the economy is losing momentum. Starting with retail sales, the headline […]
The Rotation Out of Tech Continues
/in Investing, Reports/by Tom EssayeWhat’s in Today’s Report: The Rotation Out of Tech Continues