Brazil ETF is Overbought to a Statisically Significant Level
Once again our levels are holding as we navigate through the daily markets. We do have a new trade in EWZ that we will go over in detail in tonight's video...
Earnings No Longer a Catalyst?
The risk continues to remain to the downside. Earnings announcements are no longer a catalyst to new highs. The Fed will not make any changes before a presidential election. We have to ask ourselves what will propel the markets to new highs? While we are being patient here are the opportunities lurking in the market...
Earnings Take Center Stage While Financials Slip
Forget the election because it's earnings season! Last week we saw financials rally and sell off on earnings. Tech stock kicked off today with NFLX which is seeing a nearly 2 standard deviation move in after hours trading. Lastly, we hope you can join us live on Tuesday or via the replay on a timely…
Will Politics Kill World Trade?
Terrorism and the influx of refugees fleeing the war-torn Mid-East for Western Europe have triggered a revitalization of nationalistic sentiment among the electorate, a phenomenon Donald Trump has used as a veritable springboard on the way to winning the GOP presidential nomination. But the populist shift has also served as a drag on global trade…
Tides Have Turned, Good Earnings Brought Sellers...
The stock market is at an inflection point. Bonds have broken down which has sent interest rates up. Higher interest rates are better for financial stocks. Plus most financial stocks beat earnings expectations. Financial should be rallying, but they're not. Add on the fact that volatility remains elevated and dollar is sitting at stone throw…
Check Your Money Markets: Reform Kicked In On Friday
If you’re in a prime money market fund and you don’t know what happened today, you need to read up. On Friday, new rules went into effect that will require prime funds to report a floating net asset value and would, in some cases, allow funds to gate investors. For anyone who may be unaware,…
Friday Recap: Bank Earnings, China PPI, Yellen
It looks like we’re going to head into the weekend on an upbeat note thanks largely to, i) bank earnings, and ii) China PPI. Below, find a bit of Street commentary on results from JPMorgan, Citi, and Wells Fargo courtesy of Bloomberg: From Goldman’s Richard Ramsden: JPM Strong FICC rev. drives beat Total rev. outperformance…
Why One Trader Is Wrong About China
We were meandering around thinking about something else to write about this afternoon without picking on China trade data again when we ran across this missive from Bloomberg’s Mark Cudmore (and this is the full text): The China doom-mongers don’t seem to have updated their models since January. Even allowing for today’s disappointing trade data,…
The Biggest Story Of The Day: Chinese Trade Disappointment
We’re not entirely sure why anyone is surprised to see these numbers anymore and it’s not like they weren’t telegraphed earlier this week, but whatever the case, Wall Street isn’t liking the latest trade data out of China. The breakdown is pretty simple. It missed. All of it. Here’s the long and - more appropriately…
Highs Not Being Bought But Dips Are
Yesterday we were spot on with the call lower. Today the dip was bought, but that may not be the end of the selling. Watch the earnings reports for the bank stocks tomorrow. This will tell us where the markets go next...