US stocks pared earlier losses as traders digest a wide range of mixed economic data that overall supports the story that inflation is coming down.  Wall Street had a tale of two rounds of economic readings.  The first wave, before the opening bell showed CAPEX is weakening and softer consumer demand.  The second round of data was rather upbeat as consumer sentiment improved and inflation expectations dropped even further.  New Home Sales also unexpectedly improved, but no one is betting that the bottom is in place.  US Data Disinflation trends are firmly in place after durable goods orders slumped and as personal spending softened.  Demand destruction should only continue and that will be well received by the inflation fighting Fed.  The preliminary November look at durable goods … [Read More...]

FEEDWe begin with gold, which barely cracked a huge supporting trendline, only to do a marvelous head fake and blast over $50/ounce higher on Friday. Take note the gap it is approaching is important resistance. Silver, too, had a great Friday. On the one hand, those two lines looming represent powerful resistance. On the otherRead More 0 Comments [Read More...]

The tech bloodbath is over and Wall Street still seems to be confident that the Fed is ready to downshift their tightening pace after they deliver a fourth consecutive 75bp rate hike next week. The labor market needs to weaken significantly before the Fed can have a slower pace of tightening. This Apple-led rally is somewhat surprising given the mediocre results and holes in the outlook. When you compare Apple’s earnings to Meta and Amazon, it does look a lot better. US data Another round of economic data supported the argument that pricing pressures are not slowing fast enough and that the Fed may need to remain aggressive with tightening. The Employment Cost Index (ECI) printed at 1.2% in the third quarter, which is still well … [Read More...]

US Will the fourth 75 basis-point rate hike be the last major rise before the Fed downshifts in December?  Next week’s FOMC decision is widely expecting a unanimous vote for one last major rate increase. With the Fed’s preferred price measure still showing inflation is running hot, that might make it harder for them to set up a possible downshift in its rate-hike pace for the December meeting. Despite an acceleration with inflation, strong consumer spending data, and a robust labor market, much of Wall Street is growing confident that the Fed will pause tightening once they take the funds rate to 4.50-4.75% next quarter. In addition to the FOMC decision, traders will also closely monitor the nonfarm payroll report.  The strong labor market is still … [Read More...]

The stock market selloff may have been overdone and exaggerated given this quarter’s ‘triple witching’ event. The expiration of stock futures and options may have accelerated the selling pressure leading up to today. ? It has been a painful week on Wall Street as inflation has forced many central banks to become more aggressive with outlining their monetary tightening plans that will lead to significant slowdowns for their respective economies. ? The Fed, ECB, SNB, and BOE are all poised to continue to tighten financial conditions throughout the summer. ? Financial conditions are tightening, credit risks are rising, and liquidity risks are percolating.  Endless liquidity is no longer going to support large parts of the economy.  The housing market is cooling, economic weakness is hitting both manufacturing … [Read More...]

Jonny Hart looks back on the week’s business and markets news with OANDA Senior Market Analyst Ed Moya in New York.  This week they discuss the carnage on Wall Street, while recapping the Fed, SNB, BOJ, ECB, and BOE meetings and discuss the crypto markets. They also discuss what the week ahead has in store for financial markets. [Read More...]

MCX COPPER Gann Angle Chart MCX Copper is at gann price time squaring level should see big move next week.  MCX COPPER Plannetary Support and Resistace Line  Price closing above Mars Support line heading towards 769/785. MCX COPPER Harmonic Analysis Price heading towards 785/800 till holding  749 COPPER Astro/Gann Trend Change Date 23 Feb Important […] The post Weekly Forecast/Prediction for Copper Prices appeared first on Bramesh's Technical Analysis. [Read More...]

Oil Energy traders did not wait long to lock in profits.  After a fourth weekly gain, crude prices slumped after oil rig counts delivered their biggest increase in a month and as risk aversion sent the dollar higher.  The weekly Baker Hughes rig count rose from 503 to 512, a 1.8% increase.  Earlier, oil prices were under pressure on expectations that Russia’s fourth quarter crude exports will increase 3% from the prior quarter.  Russia won’t hesitate increasing production and this could lead to a return of tension at the OPEC+ output meetings. WTI crude may consolidate over the next few trading sessions until the trajectory of the dollar is a little clearer. Gold Gold is still in trouble.  Gold prices are declining despite a large liquidity add by the … [Read More...]

Financial markets seem to be constantly recalibrating.  The economic data is expected to be volatile and that should support the Fed’s patient stance on waiting for enough data to make a clear assessment over pricing pressures and the strength of the labor market recovery. Inflation expectations are weighing on sentiment, but Treasury yields seem like they may be stuck in a holding pattern a little while longer.   The front end of the curve is not moving and since expectations are so high for the US economic recovery, the bond market is still mostly counting on disinflationary forces to win out. The focus for the upcoming is heavily tilted to the Fed.  The Fed’s April meeting minutes will be released and could provide some clarity over their inflation … [Read More...]

Jonny Hart looks back on the week’s business and markets news with OANDA Senior Market Analyst Ed Moya in New York.  This week they discuss inflation and the Fed, the global minimum tax, and why oil prices are rangebound.  They also discuss what the week ahead has in store for financial markets.   [Read More...]

Unprecedented trading activity over the past week delivered a rare victory to the small retail trader and crushing defeat to hedge funds and giant short-sellers.  Wall Street watched in awe as companies with terrible fundamentals saw relentless option buying by retail investors take advantage of a structural weakness in markets.  The battle over GameStop is far from over but there have been huge casualties.  Citron Research announced that after 20 years of providing short-selling research, they are shifting to focusing on long side opportunities. Some hedge funds required rescue financing and some retail traders mistimed the meteoric rise in many stocks. In a busy trading week that contained a FOMC decision, Apple’s supercycle earnings results, and a plethora of news on the COVID, financial markets remained … [Read More...]