Yes, the old flame is still alive. The Consumer Confidence level in October was down a whopping 9 pips to 71, which is still higher than in 2011 – Jan 2013. But I recall numbers in the 120 range prior to the Credit Crunch
Tag: dow
So, I am having an acute deja vu all over again. For traders with short memories – and there are a great many – as far back as last May, trader sentiment was also elevated. And we know how the market resolved that little extreme
I shall be away Wednesday and Thursday giving a MoneyWeek workshop and will have no further posts until Friday. What a stinker of a US Jobs report today! Only 148,000 new jobs vs expectation of 185,000. Because traders believe the weak jobs growth (with the
Crude oil trades more or less in synch with the Dow, and it is flashing a bear market alert. This morning, it is testing the $100 level, which it hasn’t seen in weeks. I have been bearish crude for some time, and believe the next
So, it’s fill yer boots time again! Grab that risk with both hands – you can’t lose. The debt ceiling crisis is over and it’s perfectly OK to get back in the water. You know the Dow is heading for 20,000, then 25,000. I
Several moments of truth fast approach – and the Dow and S&P have hit important Fib targets – and with negative momentum divergences ion the hourly charts. Whatever the last-minute deals are currently, the US dollar has caught a bid this morning in a
Great news this morning! The Grand Canyon and Statue of Liberty will re-open. Hey – only bone-headed politicos could shut down two of the greatest money-spinners in the USA for two weeks – and make the government a complete irritation amongst tourists into the bargain.
This is getting more and more like Kramer vs Kramer – the plot bears an uncanny resemblance to what is going on with White House vs Congress (The 1979 film tells the story of a married couple’s divorce and its impact on everyone involved, including the couple’s
With the US government shutdown and the looming debt ceiling drama, the markets are still tracing out recognizable patterns! In fact, I had a post yesterday calling for a bounce in the Dow, which arrived right on cue. Do you spend much time reading what
Overnight, the EUR/USD made an overshoot of my upper expanding triangle line. I showed this chart a few days ago and this is it updated. When I see an overshoot following a strong one-directional move such as the euro has enjoyed, I tend to get
Dow makes a new low today and I caught a nice short on the early rally. But the Nasdaq is not declining in synch – and this is what keeps me from being full-on bearish the Dow (yet). I still believe the nonsense around
With just about everyone assuming the US government will be shutting down – and the Dow having declined 600 pips off the high in anticipation – I believe the stage is set for a big rally in a ‘sell the rumour, but the news’
