Just as market sentiment began improving and the US dollar index showed its first 3-day losing run since March, selling resumes across the board. Yesterday's solid US retail sales gave Powell the confidence to stick to his “inflation-remains priority” rhetoric. Interestingly,
DXY, EURUSD and US-10 year all stabilized at their 21-day moving averages. No, this is neither a piece about “bear market rallies”, nor about “Intermarket technical confluences” covered successfully at last Thursday's market low. This in fact is about how the market could resume rallying into next week—despite Wednesday's wobble.
Ashraf, why do you see oil strength?
They won't raise rates until housing is well out of the woods
North Korea test nucs and we buy, buy, buy. Please tell me why this is ok?
Goodluck everyone. I just wish we traded for the world's longevity vs ending our civil ASAP. Note: Sears made $25M and Wall Street at one point gave them $1.5B, same day. This could be the
entire GDP of NZD.
Don't reward morons because a trend is in tact. They have enough money to keep any trend going forever. Give Shld $25M when they make $1.5B. Is it this hard to follow EPS and P/E? Would you buy a company in your region that takes 50-75 years to repay? How many banks will fund a deal with a 50-75 yr pay off ratio. No one. Look at all these corps balance sheets. All funny jokes my kids wouldnt come up with, and I don't even have kids.
The equities trade is about to run out of steam. Oil will move down. Gold will move up. If not June we'll see $1,050 this year. Only thing Gold doesn't have in its favor is once equities moves down, dollar moves up, applying pressure to Gold. Gold will be safe haven.
The world economy shouldn't run on technical trading alone. We have terrible global macro numbers and this pair is going up? This is a classic bubble. Only reason this pair is this high is because the banks spent a good amount of their bailout funds on trading!