On May 23, I wrote about the market forming an ominous technical pattern. The pattern I discussed was an “outside day” which is a reversal pattern. Now, days later, the stock market has traced out another reversal pattern called an “island reversal.” You can see the pattern through the link below.
(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers.) PERSONAL INCOME AND SPENDING WORSE THAN EXPECTATIONS, GOLD BUYING IN ASIA BUT SELLING IN AMERICA May 31, 2013 April personal income came at 0.0% vs.
(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers.) STRONGER DURABLE GOODS BUT WEAK RALLY IN JAPAN, GOLD REACTS May 24, 2013 April Durable Goods Orders ex-transports came at 1.3% vs. consensus of 0.5%. After
In the wake of Bernanke’s testimony before Congress and the release of Federal Open Market Committee (FOMC) meeting minutes, the U. S. stock market traced an ominous technical pattern. In traditional technical analysis, this pattern is known as an “outside day.” The outside day is visible on the chart of
(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers.) OIL SURGES AS RUSSIA FLEXES ITS MUSCLE IN SYRIA, BUT GOLD FALLS May 17, 2013 Crude oil is surging. WTI just hit session high of $96.41. Russian
(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers.) YEN BREAKS 100, GOLD FALLS BY $33 May 10, 2013 In yesterday’s mornings capsule, we told you about Weekly New Unemployment Claims coming in better
(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers.) INTEREST RATES RISE SHARPLY AND STOCKS BREAK RESISTANCE AT 1600 AFTER BLOWOUT EMPLOYMENT NUMBERS May 3, 2013 This morning the Department of Labor released blowout employment
This morning the Department of Labor released blowout employment numbers. April nonfarm-payroll numbers rose by 176K vs. a consensus of 166K, and more importantly, the whisper numbers were under 140K. The reaction in the markets has been violent. Interest rates have risen, and DJIA has broken the resistance at
(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers. ) LOWER GDP, GOLD SHORT COVERING CONTINUES April 26, 2013 GDP for the United States rose only 2.5% for the quarter vs. 2.8% consensus. This simply
(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers.) GOLD BREAKS ABOVE $1400 AFTER G20 ACCEPTS ABENOMICS April 19, 2013 Gold has broken above $1400 as G20 accepts Abenomics. G-20 refers to the group of 20 major economies.