Dow name Nike is scheduled to report earnings on ThursdayMaking headlines next week will undoubtedly be the third-quarter gross domestic product (GDP) report, slated for Friday, Dec 20. The Job Openings and Labor Turnover Survey (JOLTS) and several manufacturing updates are also due, with a handful of notable earnings on the docket, as well. Some names sharing quarterly results will be blue chip N...Read More
Reports say the U.S. could cut existing tariffs on ChinaStocks are spiking today thanks to bullish trade developments. First, President Donald Trump tweeted that the U.S. and China were "VERY close" to a "BIG DEAL," and fresh reports suggest the Trump administration is willing to cut existing tariffs on China along with canceling Sunday's deadline for more tariffs. The Dow Jones Industrial Average...Read More
EA stock just ran into its historically bearish 80-week moving averageVideo game concern Electronic Arts Inc (NASDAQ:EA) has had an impressive run on the charts in recent months, tacking on 12.5% since its early October lows, and clocking an eight-month high of $104.96 today. During this race higher however, EA ran straight into a long-term trendline that could, if past is precedent, bring its rec...Read More
FDA buzz has AMRX shares jumping this morningAmneal Pharmaceuticals Inc (NYSE:AMRX) shares are up 34.2% this morning at $4.67, thanks to news the company's EluRyng -- a generic version of Merck's (MRK) NuvaRing -- was approved by the U.S. Food and Drug Administration (FDA). While this price action has the healthcare concern on pace for its highest close since July, the rally so far may not be big...Read More
The 200-day moving average has emerged as supportPumpkin spice connoisseur Starbucks Corporation (NASDAQ:SBUX) is enjoying a 2.4% lift this morning, trading at $88.70 after receiving an upgrade to "overweight" from "neutral," at J.P. Morgan Securities. The firm also hiked its price target by $4 to $90, citing a recent meeting with the company in which it was impressed by sales drivers and Starbuck...Read More
GE calls are popular and affordably pricedOn Monday, General Electric Company (NYSE:GE) was in focus for its heightened options activity. Today, the former Dow name is up 3.3% to trade at $11.33, after UBS raised its rating on GE to "buy" from "neutral," while hiking its price target to $14 from $11.50. The analyst in coverage thinks the increase cash flow will create a positive inflection point...Read More
Canopy just released a line of CBD products in the U.S.The shares of Canopy Growth Corp (NYSE:CGC) are popping today, up 1.1% to trade at $20.53 after the firm announced its launch of First & Free --hemp-derived CBD products -- for the U.S. market. The line will include softgels, oil drops, and creams, and will be available to purchase through the brand's website. While still down roughly 24% for...Read More
Verylittle happened in the precious metals market both yesterday and in today’spre-market trading – at least so far. We will take this opportunity to discusssomething that we haven’t done in a while – silverstocks.To be clear, we’re not going to discuss the silver mining stock selection, asthat’s something our proprietaryalgorithms do on a daily basis. And yes,...Read More
The Dec. 15 trade deadline is looming larger and largerAfter the Fed kept interest rates steady yesterday, stock futures are drifting lower this morning. Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) futures are all signaling slightly lower opens, as investors turn their eyes away from the Fed and back to U.S.-China trade drama. Reports indicate President...Read More
Gold's post breakout reaction back from its early September peak has evolved into a steady downtrend as we can see on its 6-month chart below. The approach of the rising 200-day moving average below suggests that this reactive downtrend will have run its course before much longer leading to a second upleg. However, gold's COTs have shown no improvement as this downtrend has unfolded, which is a...Read More
By: Ira EpsteinI am bullish gold, but don't want $1,463 taken out. We are above 18-dma, $1,499.60 resistance area:Read More
There will be short covering and subsequent buildup of long positions if gold and silver rise today and tomorrow. There was no surprises in FOMC meet. Now the focus will shift to European central bank meeting, impeachment news related to Trump and UK elections and the key trade deal. Fed Chairman Jerome Powell said the economic outlook for the U.S. was favorable as the central bank announced its...Read More
Gold-linked exchange-traded products are growing in popularitywith investors. Assets held by gold ETFs have grown 38% globally in 2019. In October, according to the World Gold Council, gold ETFsattracted $1.9 billion in net inflows to reach a new record high total goldholding of 2,900 tonnes – at least on paper.There is good reason to be skeptical of whether all these “gold”vehic...Read More
Gold,silver, and mining stocks reversed practically exactly at their double trianglereversal point and the short positions that we opened along with takingprofits off the table from the previous longpositions, became profitable almost instantly. There’s quite a decline to catchhere, and it seems that only a small part thereof had already taken place. PMsReversingTheabove chart clearly shows...Read More
WOOD, one of the Ishares ETF symbols related to the Real Estate and Construction sectors may become the next hottest instrument for skilled technical traders. Over the past three years, Wood has rallied over 110% between a $40 to $84 range and the trading volume of WOOD has been relatively consistent near an average of about 140k shares per week. Let’s dig into the opportunities...Read More
Technical analysis update forthe SPDR Gold Shares ETF (GLD).Long-term bullish continuationanticipated once current correction is completed.Looks like a deeper retracementmay come in the near-term, before resumption of the rally. Long-term breakoutFollowing the August 2018 swing low of $111.06, GLDrallied 32.2% to the September 2019 high of $146.82. That rally foundresistance in the area of Fibonac...Read More
Mike Gleason: It is my privilege now to welcomeback our good friend Greg Weldon, CEO and president of Weldon Financial. Greg hasdecades of market research and trading experience specializing in the metalsand commodity markets and even authored a book back in 2016 titled GoldTrading Boot Camp where he accurately predicted the implosion of theUS credit market and urged people to...Read More
Technical Analysis is the theory that price relates all news, fundamental and correlative future expectations into current and recent price activity. It is the theory that price is the ultimate indicator and that charts paint a very clear picture for those individuals that are capable of understanding the message that is being presented. In this research article, we are going to highli...Read More
We all know that the gold and silver Commitments of Traders are very extended and at levels of commercial net shorts and large spec net longs that tend to be in place at tops in the metals. Well, the metals topped in the summer, so what does that tell us?For one thing it tells us that bull market rules are different from bear market rules as per this post from August as gold was topping.Gold and S...Read More
By: Dave KranzlerTo the extent that some analysts reject the Fed/Wall St/Perma-Bull narrative that the Fed's repo operation is needed to address "temporary" liquidity issues or was caused by the newer regulatory constraints, the only explanation offered up is that the financial system's "plumbing" is malfunctioning. But there has to be an underlying cause......The underlying cause is abject de...Read More