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%…

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…

Rising From The Dead – French Industry

Monday, March 24th 2014, is the day for European Flash PMI. The data for March show that services and manufacturing sectors in France are expanding while contracting in Germany. The French flash Composite Output Index rose to 31-month high of 51.6, up from 47.6 in February and above estimates. Services sector expanded for the first time and…...

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Extended Stay America

Late last year, the US market bottomed on November 16, 2012. Since then it has been powering higher defying all odds. During this time – 196 calendar days or 134 trading days – the index has not had a significant pullback. Before last week’s decline, it had only three shallow pullbacks averaging -3.43% and lasting…...

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