Category: Financial Markets Update

FOR FRIDAY: (5/18) Traders aren’t taking too much home for the weekend lately so end-of- the-week position squaring may hit for stocks and crude. Trend and fundamentals remain strong for crude, and our target for crude continues to be 7900 this summer. S &P not likely to fall dramatically, and chances are it will be a buy on Sunday night.Continue reading

FOR THURSDAY: (5/17): We had a reversal due for currencies for Wednesday, and it may have come in with Italy getting their act together. Still, a fall in the dollar may not be more than 2-3 more days and not be very much. S & P still looks higher into next week with Thursday higher. Gold may retrace overdone conditions now.Continue reading

FOR WEDNESDAY: (5/16): Trade a bit on edge with war game exercises spooking the North Korean President. Higher interest rates make 3-year bills a win over stock dividends and 10-year note over 3% is a bit of a take-the-money-in-May-and-run play. Stocks haven’t put in a major sell signal yet but are on the edge. Patterns on bonds look deeper into next week so the writings on the wall there.Continue reading

FOR TUESDAY (5/15): The Dollar recovered late as stocks gave up their overnight gains following remarks from Commerce Secretary Wilbur Ross that seemed to pour cold water on Trump’s overnight tweet on ZTE and hopes that a trade war with China was easing. We see lower dollars the next few days so not sure what will change overnight but overall, we’re looking for pullbacks on stocks into Wednesday but still open to new highs if 2700 holds into Wednesday’s low.Continue reading

FOR MONDAY: (5/14) Upside patterns on crude and stocks could get realized Sunday night and part of Monday but we should get a pullback into at least Wednesday. Not expecting the end of the world for any markets but they are overblown from this week and pullbacks would be healthy.Continue reading

FOR FRIDAY: (5/11) Cycles peak on Friday and Sunday for many markets and this week’s movement should get retraced next week. Still potential but sometimes Fridays are congestive before the weekend.Continue reading

FOR THURSDAY: (5/10) We have a bias toward strength and bullish energy the next few days for many markets so we see no reason to top-pick stocks or crude. Gold and silver will be the victims and we need to find a way to get into the dollar.Continue reading

FOR WEDNESDAY: (5/9) Cycles are volatile for Wednesday so we don’t sense an easy trade for crude or stocks but they may stabilize later in the week. The press is confused about the terms of pulling out of the Iran deal and they are rather complicated but Iran still wants to negotiate with the other partners in the deal, and it will take months to put sanctions on again and a new deal could happen by then. In the end, the Israel and the Military Industrial complex want war and we have to admit that the billions of dollars from the deal that support a regime that hates us and terrorizes the Middle East isn’t a good investment. You have to dig really deep to understand all the issues here.Continue reading

FOR TUESDAY (5/8) The Iran decision is due at 2 pm Eastern Time. The surprise would be to go for it rather than upset the apple cart, and crude has been pricing in the return to sanctions. Stocks still seem higher on Tuesday and patterns suggest the need for at least 2701-05 on the S & P.Continue reading

FOR MONDAY (5/7) San Francisco Fed’s John Williams says “comfortable overshooting 2% inflation for a while” and stocks are green for the week and the biggest short squeeze since Brexit hits the market. We had a low due by Monday but thought the market might be down all day. Next week looks friendly for stocks and much friendlier than the following week. Crude is now looking higher for at least two more weeks and rallies on T-notes should be sold on Monday.Continue reading