Chart of the Day: Gold
Gold futures are currently in a “consolidative pullback” from the post-Brexit highs in June, however the longer-term trend remains a bullish one.
Chart of the Day: S&P Closes at a 3-Week-Low
Although it was a choppy and seemingly uneventful session, the S&P 500 did quietly close at a 3-week-low yesterday. Today, Yellen could spur all sorts of different moves, but from a purely technical perspective, yesterday’s close was a bearish, near-term development
WHY STOCKS DROPPED YESTERDAY
Yesterday’s dip in stocks was not because of an EpiPen, regardless of what the financial media said. Yes, Hilary Clinton’s EpiPen comments did remind everyone of the healthcare induced pullback in 2015, but this time that’s largely a political distraction. By far the most important thing that happened yesterday was that we learned 8 of […]
Chart of the Day: Oil’s Recent Rally
Despite the early week pullback in the energy market, WTI futures are continuing to trend higher right now thanks to speculation that global oil producers may “freeze” production next month in an effort to defend prices. Today, the weekly EIA Report released at 10:30 a.m. ET will be in focus.
Chart of the Day: 10yr Treasury/ JPG Yield Spread
Stocks rallied after the Treasuries-Japanese Govt. Bond (JGB) 10 year yield spread dropped following Brexit. But the yield has stabilized now and as a result the US stock rally has stalled. This spread needs to fall again via lower Treasury yields to restart the stock rally.
Bond Bubble
It’s the calm before the storm. That’s what this market feels like to me right now, because the fact is that the events of the next six weeks have the potential to either 1) Ignite an acceleration of the recent rally or 2) Cause a sharp pullback. While I admit these markets are downright dull […]
The Rotation Out of Tech Continues
/in Investing, Reports/by Tom EssayeWhat’s in Today’s Report: The Rotation Out of Tech Continues