Market Remarks On European Equity Indices

Germany German XETRA DAX broke above a symmetrical triangle on weekly timeframe in early August 2016, by rising above 10500.00 (Chart 1). From August to November 2016 it stayed within a horizontal trading range with an upper limit of 10830.00 and a lower limit of 10170.00. In early December it broke above that trading range. The 100%…

Week In Review – Steady As She Goes But Don’t Get Too Complacent

Major U.S. Indices Knocking on The Upper Channel Line The thirteenth week of the year was a downer for the market. The broader market index, NYSE Composite, and the big-cap S&P 500 declined for the fourth time in the last five weeks. Tech heavy NASDAQ was down for the third times in the past five weeks and the…...

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Four Horsemen of Dollar Index

Central banks around the world are highly active. Some, like in Switzerland and Denmark, are working overtime to prevent their respective currencies appreciate too much. Some, like in emerging markets – India, Russia, Ukraine etc. – are fighting to prevent their currencies not depreciate a lot. Then there are others, like in Japan, U.S.A. and EU, who are…

IS Gold Getting Its Glitter Back?

The expansion of the quantitative easing by the ECB has put a renewed pressure of the greenback to go up. Mind you euro is the biggest component of the dollar basket and the QE has been hugely negative for the euro. When the U.S. dollar goes up then naturally the commodities priced against it will go…...

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Big Three Miss – A First Since 2011

For the first time since the fourth quarter of 2011, the Big three U.S. banks – Bank of America, Citigroup and JP Morgan Chase – missed consensus earnings estimates. Bank of America reported actual EPS of $0.25 compared to the mean estimate of $0.32; Citigroup reported EPS of $0.06 whereas the average estimate was $0.10; and JP Morgan Chase reported EPS…

The Swiss Franking

The Swiss National Bank (SNB) shocked the world with its decision to remove the Euro floor. The franc declined over 15% versus the Euro. Since August 2011, the SNB had been defending the EUR/CHF exchange rate at 1.20 level. It decided to do that after the EU fell in grips of various crises and the franc appreciated 40%…