Category: Finance
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Stock Markets rise after weaker employment data
It was eventful last week with the FOMC rate decision and US NFP (employment data). And I apologize, but once again this is all about the most important question and narrative driving financial markets: will the Fed cut rates soon? Let’s start off with the FOMC meeting. On May 1st 2024, the Fed kept rates…
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Are stock markets about to crash hard?
At time of writing the US stock markets are green for the day in an attempt to end four red days in a row. However, the green is slowly dissipating with a sell off. In fact, the Nasdaq has already gone red. My readers know that I like to rely on technicals. We will get…
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Bitcoin bulls beware! Topping pattern to trigger more downside?
You know I was hoping to enjoy this weekend off from charts, but I could not help myself. Many traders, even just for curiosity, had their eyes glued on the bitcoin chart given the Israel-Iran tensions over the weekend. Before the markets closed for the weekend, they did sink as the Iranians said they were…
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Stocks sink as yields hit 2024 highs on rate cut bets cooling
In Q1 2024 everything was moving up on interest rate cut bets. Q2 2024 has started off sour. It seems rate cut hopes keep getting pushed down further. The 10 year treasury yield is rising as bets on the June rate cuts cool down. The market is still expecting a 62% chance of a cut…
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Bank of Japan raises interest rates for the first time in 17 years
By gawd they did it. They actually did it. The Bank of Japan (BOJ) has finally raised interest rates for the first time in 17 years. Ending the world’s only negative rates regime. Truly a historic pivot. The BOJ raised its short-term interest rates to around 0% to 0.1% from -0.1%. The BOJ also announced…
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US inflation ticks upwards in February raising doubts on rate cuts
US inflation ticked up in February 2024 driven by higher rent and gas prices. The current market narrative is that, “stock markets are rising because investors are betting that interest rates are heading lower”. In fact, this is being used to explain the rise in gold, and somewhat bitcoin as well. The consumer price index…
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Gold hits record highs. Do not FOMO!
Gold prices against fiat currencies are printing new all time record highs. The only pairing which has not yet printed record highs is gold against the Swiss Franc, but it is almost in new record high territory. In this article, I will provide a technical game plan to play gold. But first off, let’s talk…
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Gold price contracts hit highest level ever as US debt rockets
Hold up Bitcoin! Gold wants to join in on the party! Gold futures for April have hit $2,126.30 per ounce, the highest level dating back to the contract’s creation in 1974. Yes folks, gold has hit its highest level ever. When adjusted for inflation, gold set an all-time high of about $3,200 in 1980, according…
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Bitcoin on the path to new all time record highs
Bitcoin has topped $57,000 for the first time since 2021. And from a technical perspective, the world’s largest cryptocurrency is on the path to printing new all time record highs. In terms of fundamentals? The Bitcoin ETF. This was the catalyst many bitcoin bulls were waiting for. An ETF makes bitcoin ‘legit’ in the eyes…
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Rising Sun, Rising Stocks: Japanese Nikkei takes out 1989 highs
This might be one of those “see we told you so” articles. While most investors are talking about Nvidia earnings and how it is holding up the US stock markets (S&P 500 and the Dow Jones have printed new all time record highs today with the Nasdaq not too far away), I think market news…
