Gold Prices Collapsed

Gold Prices Collapsed

#gold $XAU $GLD Gold broke sharply lower Tuesday, and this should be the beginning of the September breakdown I have been expecting. The decline phase into the cycle low should take up to 2-wks, a clear break of 1864-1850 augurs 1750 -1726. Gold ETF (NYSEArca:GLD) is oversold, Key support it at 163.57. Have a healthy day, […]

Pressure on Hollywood’s Box Office Continues

Pressure on Hollywood’s Box Office Continues

$DIS, $SNE, $CMCSA, $LGF, $IMAX, $CNK, $AMC B. Riley FBR’s analyst says that will “pressure” film theater stock valuations until mid-2020 before the group “begins to see some love” from investors. With Frozen 2 ringing in the all-important final stretch of the box-office year, Hollywood’s eyes are on whether year-end tentpole releases can help make up the […]

Hurricane Florence Will Distort Economic Data, Expect Little Harm

Hurricane Florence Will Distort Economic Data, Expect Little Harm

Hurricane Florence Will Distort Economic Data, Expect Little Harm $HD, $LOW The coming economic impact of Hurricane Florence is unlikely to be large but will likely muddle US data for months, judging from past experience. Last year, Hurricanes Harvey and Irma constrained activity in Q-3 of Y 2017 and sparked rebuilding later in the year […]

People are asking: “Has this market topped.”

People are asking: “Has this market topped.”

People are asking: “Has this market topped.” $DIA, $GLD, $SLV Since February 8th when the Dow Jones broke below its -10% BEV line in the chart below, it’s been building a pennant formation. I don’t know how significant it will be when the BEV plot breaks above or below the pennant, as technical analysis in today’s […]

Bitcoin Seeing its Worst Monthly Decliner Since December 2013

Bitcoin Seeing its Worst Monthly Decliner Since December 2013

Bitcoin Seeing its Worst Monthly Decliner Since December 2013 $BTCUSD,$FB Cryptocurrencies are extending losses with Bitcoin headed for its worst monthly decliner since December 2013 on the last day of January trading as US regulators ramp up their scrutiny of one of the world’s largest digital currency exchanges while Facebook Inc. (NYSE:FB) is banning ads tied to […]

US Manufacturing Pressured By Strong USD Fell in June

US Manufacturing Pressured By Strong USD Fell in June

US Manufacturing Pressured By Strong USD Fell in June $DIA, $SPY, $QQQ, $VXX New orders for US factory goods fell for a 2nd month running in June on weak demand for transportation equipment and capital goods The US Commerce Department said  Thursday that new orders for manufactured goods declined 1.5% after a Southwardly revised 1.2% […]

US Demand for Autos Fall in July

US Demand for Autos Fall in July

US Demand for Autos Fall in July $GM, $F, $HMC, $TM, $VLKAY US auto sales drop in July as hot weather and softening demand kept buyers at home. Major automakers have reported July sales that fell short of expectations, which has reinforced worries that the market may have peaked with last year’s record numbers. Kelley Blue […]

US Restaurant Downturn Signals Recession

US Restaurant Downturn Signals Recession

US Restaurant Downturn Signals Recession $DIA, $SPY, $QQQ, $VXX During much of the recovery from the US financial crisis, restaurant spending has been a retail highlight as other areas, like department stores, have struggled. However, recent surveys point to the start of a serious decline. “Today, we adopt a bearish outlook for restaurants as we […]