Global Markets

Will Draghi Take Action In September?

The odds for European Central Bank President Mario Draghi to add additional monetary measures to help boost the European economy are starting to tick higher with each and every weak economic data release. And I believe he will likely act in September. Take for example the Citigroup Economic Surprise Index for the European Union. This index has been below 0, which represents worse than expected economic data, since late March. And

Has Silver Lost Its Luster? 2 Key Fibonacci Levels To Watch

To get a better idea of what’s happening with Silver, let’s start with a long-term view of price history. From the low of $3.92 in 1993 to the high of $49.82 in 2011, price increased by a massive +1170.91% (a +12 bagger) with +493.09% of the move occurring in just 30 months from October 2008 to April 2011. In the 2o year chart below (through 2013), you can see that there

Are Wheat Futures Putting In A Bullish Reversal?

Back in May, I wrote a post about a high ranking short opportunity in Wheat Futures (ZW). And now that the downside has run its course, I would like to revisit the chart and point out an interesting harmonic pattern that is emerging again in Wheat. Two things stand out to me in the chart below: 1) Wheat Futures confirmed a Bullish Shark Pattern. 2) A reverse head and shoulders pattern is

Emerging Markets ETF (EEM) At Key Technical Resistance

The speed of the recovery from the decline in U.S. equities from late July to early August affirms it’s still a dip-buying environment. The market is telling you to stay long with discipline. As is often the case, the market-unsavvy did well this time by holding their holdings and going on vacation. And as I look across the universe of exchange traded products, iShares Emerging Markets ETF (EEM) jumps out

Did Corn Prices Just Bottom?

Lots of interesting dynamics at play for grain commodities right now. In short, the past 3 months haven’t been kind to Corn, Wheat, and to a lesser extent, Soybeans. But each of them is trying to put in a bottom.  Corn in particular has struggled to gain traction, but perhaps the sideways price movement that forms a rounded bottom is part of the frustration that wears out investors and sparks

EURAUD: A Case for the Copsey Modified Elliott Wave

As you all may know from previous posts about how I analyze and use harmonic patterns, I often look for patterns in the larger context of the overall trend. And further, when they appear in clear Ellott Wave fractals, I place a higher percentage on the possibility of a reversal.The Forex Chart Spotlight today is the EURAUD. As I was monitoring the EURAUD daily time frame, I also noticed that there

Financial Market Overview: Is Banco Espirito Santo A Canary In The Coal Mine?

We saw the U.S. equity markets retreat from their all-time highs (except the Nasdaq Composite which still has yet to break it’s 2000 all-time high!). The retreats were modest except in the growth-oriented Russell 2000 which declined 4.04%…in a single week. Volatility was up 12% from many see as complacency lows. The intermediate term trending indicators I use are still showing green arrows for the US and Canadian stock markets but internally

U.S. Dollar Under Pressure: Geopolitics Loom Large

While America sleeps, we continue to lose financial ground to those determined to unseat the monopoly of the U.S. currency. Take for example The People’s Republic of China’s Central Bank’s recent announcement that boosted the United Kingdom’s bid to be a center for offshore trading of Chinese currency. This should not escape your notice as you look at business news headlines. This article further illustrates the gains that are being

Are U.S. GDP Growth Estimates Still Too High?

Christine Lagarde, Managing Director of the International Monetary Fund (IMF), made headlines recently by joining the chorus of analysts that have reduced the rosy outlook for the U.S. economy in 2014. The IMF reduced its U.S. GDP growth estimate to 2%, down from a 2.8% prediction as recently as April. Economists started the year predicting that that U.S. GDP would grow at a 3-3.5% annual rate. And they have been

Equities, Forex, Volatility: Andrew Kassen’s FX Street Interview

See It Market’s Andrew Kassen sat down earlier today with Dale Pinkert (@forexstophunter) of FX Street’s Live Analysis Room for a broad discussion covering equities, bonds, forex and the global volatility collapse. Thanks to Dale for the invitation and providing a forum for an excellent discussion. For more market perspective from the minds at See It Market, check out Andy Nyquist’s June 3rd FX Street interview with Dale.   Broadcast