Currencies

Bitcoin Bounces As Bulls Look To Regain Momentum

Bitcoin peaked earlier this month around $4,950… but last week was brutal for short-term bull traders. A slight slip in early September gave way to a slide into mid-September as Bitcoin (CURRENCY:BTC) fell briefly by nearly 40% (peak to recent tough), briefly touching just under $3,000 on Friday. So today’s…

U.S. Equities Trading Update: Upside Limited

S&P 500 Outlook (2-3 Days):   BEARISH Upside is likely limited into Expiration as the rally stalls. There’s been no change in thinking given lack of movement here lately. While near-term trends have been positive, prices have the potential to reverse course into early next week. As stated yesterday, further gains likely…

U.S. Dollar Index Most Oversold Since 2008

Lots of indecision around the Dollar right now.  I’m honestly in the “I don’t know” camp when it comes to the current major trend in the US Dollar Index (CURRENCY:USD). For instance, did the dollar just finish a multi-year A B C upward correction and is it now headed for…

Gold / U.S. Dollar Ratio Racing To A Near-Term Peak?

Two of 2017’s major investing themes thus far are the return of Gold (NYSEARCA:GLD) and the prolonged weakness in the U.S. Dollar (CURRENCY:USD). Year-to-date, Gold is up 15.72% while the U.S. Dollar is down 9.57%.  This follows a multi-year decline in Gold and a multi-year rise in the Dollar. The…

U.S. Equities Update: Bulls Need To See Follow Through

How things can change with a new week. After struggling last week and posting losses, the major US stock market averages are off to the races this week. The S&P 500 Index (INDEXSP:.INX) closed up over 1 percent on Monday. Of interest are the 10 Year Treasury Note Yield (INDEXCBOE:TNX)…

The U.S. Dollar Trade: A Macro To Micro Analysis

Note that this post went out to my “Gone Fishing” newsletter subscribers this past weekend. After hitting a 14-year high at the end of 2016, the US Dollar (CURRENCY:USD) has lost 11% in 2017. Whether a reaction to Trump talking it down post inauguration, US real disinflation, Euro melt-up (which…

U.S. Equities Market Update: Uncertainty Weighs On Traders

Most U.S. stock market indexes are trading down slightly with Europe and Asia largely mixed. Investors are still seeing signs of risk-off behavior with the USD/JPY (dollar/yen) sliding to lows of the year, Treasury yields trading slightly lower, and gold and silver higher. The S&P 500 (INDEXSP:.INX) is still very…

Is This Gold Breakout For Real: Watch The Japenese Yen!

There’s been a lot of discussion recently of the breakout in gold prices. The yellow metal had been trading in a range for the last several months, seeing resistance just under $1,300/oz and support at $1,220/oz. While I do believe the breakout is encouraging and does align with seasonality for…

Stock Market Trading Update: Bulls Press The Market Higher

S&P 500 – (2-3 Days)- BULLISH  I expect a near-term upward push above 2462 on the S&P 500 (INDEXSP:.INX).  This should turn the short-term trend back to positive for a rally into early September.  A move above 2462 would allow for a larger bounce before any selloff gets underway.   Technical Thoughts No…

U.S. Equities Trading Update: Bulls Defend Support

We’re seeing some minor backing and filling today following Tuesdays’s big rally. The S&P 500 Index (INDEXSP:.INX) is giving back around 1/3 of yesterday’s gains at the time of this writing. European stocks are also trading fractionally lower despite some good economic data. The trend remains lower from early August…