Readers will notice that in early September, Boeing $Boeing (BA.US)$ blew right through the lows of this past April. Readers will note that BA put together a rising wedge pattern from late April into late July. Rising wedge patterns, for the new kids, are patterns of bearish reversal.
Currently, the stock's relative strength is weak, the daily MACD is negative with all two of the three components deep inside of sub-zero territory. The stock has not kissed its 50-day SMA since mid-A...
Currently, the stock's relative strength is weak, the daily MACD is negative with all two of the three components deep inside of sub-zero territory. The stock has not kissed its 50-day SMA since mid-A...
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That depend. on what? On the length of this strike. consumer demand is well past peak, so there is no longer a certain level of pent-up post-pandemic, revenge type consumer activity. I think that if this strike goes, for more than a few days, there will likely have to be at least an increase at a minimum...in producer prices. I had expected consumer prices to start working their way higher as we head into late 2024 anyway. I have not chnaged that view.
On t...
On t...
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Midnight! As expected, dockworkers at every major port along the US Atlantic and Gulf coasts walked off the job. There will be exceptions made for movement of military hardware / goods as well as cruise ships. The International Longshoremen's Association is seeking a pay raise of $5 per hour per year for the next six years for its roughly 47K members, but probably more importantly, a pushback in the language of the just expired, six-year contract regarding the eventual use of automated te...
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Acted well last week. The double bottom reversal pattern provided the fuel and the headlines did the rest. INTC has now taken back its 50-day SMA, its reading for Relative Strength is much improved and its daily MACD is not yet bullish, but it is going the right way.
I am long INTC $Intel (INTC.US)$
I am long INTC $Intel (INTC.US)$
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- The S&P 500 gave up 0.13% on Friday to close the week up 0.62%
- The Nasdaq Composite gave up 0.39% on Friday to close the week up 0.95%.
- The Nasdaq 100 gave up 0.53% on Friday to close the week up 1.1%.
- The Russell 2000 gained 0.67% on Friday, but still closed the week down 0.14%.
- The S&P Small Cap 600 gained 0.75% on Friday to close the week up 0.22%.
- The S&P Mid Cap 400 gained 0.11% on Friday to close the week up 0.51%.
- The Dow Transports gained 0.64% on Friday, to...
- The Nasdaq Composite gave up 0.39% on Friday to close the week up 0.95%.
- The Nasdaq 100 gave up 0.53% on Friday to close the week up 1.1%.
- The Russell 2000 gained 0.67% on Friday, but still closed the week down 0.14%.
- The S&P Small Cap 600 gained 0.75% on Friday to close the week up 0.22%.
- The S&P Mid Cap 400 gained 0.11% on Friday to close the week up 0.51%.
- The Dow Transports gained 0.64% on Friday, to...
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Chinese stocks traded even higher, though the rest of the planet was slow to play along this time. The Shanghai Composite gained more than 8% on Monday on top of a 13% gain last week, while the Hang Seng Index tacked a 3% gain onto last week;s 13% run. There is talk (but no new announcement yet) of even more stimulus on the way in addition to those measures announced last week by the PBOC along with fiscal pledges made last week by the politburo.
Seperately, it appears that...
Seperately, it appears that...
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$Rocket Lab (RKLB.US)$
The only hard news I have seen of late came yesterday (Thursday) in a rehashing of the story of Solaero, which is a subsidiary of Rocket Lab having signed a non-binding preliminary memorandum of terms with the US Department of Commerce to receive up to $23.9M in direct funding this past June 11th. The investment would (did) enable the firm to increase its production of semiconductors for spacecraft and satellites, as part of an expansion of its Albuquerque, New Me...
The only hard news I have seen of late came yesterday (Thursday) in a rehashing of the story of Solaero, which is a subsidiary of Rocket Lab having signed a non-binding preliminary memorandum of terms with the US Department of Commerce to receive up to $23.9M in direct funding this past June 11th. The investment would (did) enable the firm to increase its production of semiconductors for spacecraft and satellites, as part of an expansion of its Albuquerque, New Me...
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I was surprised to say the least. I have written it and I have said it in public many times. Conceptually and algebraically, GDP (Gross Domestic Product) and GDI (Gross Domestic Income) must equal out and one acts as a check upon the other. When the two metrics are far apart, the Federla Reserve encourages those discussing economic growth to not rely upon one or the other, but to average the two.
I had told anyone willing to listen that the math did not add up (on that...
I had told anyone willing to listen that the math did not add up (on that...
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Readers will see MU $Micron Technology (MU.US)$ gapping up on Thursday, and trying to break out past a $111 pivot created by a very clear double bottom reversal pattern. Relative Strength has spiked, as the daily MACD has moved towards a more bullish posture, but still needs to get all three components above the zero line.
Disclosure: I am short a small amount of MU from overnight trade. That is not how I view the stock at the moment.
Disclosure: I am short a small amount of MU from overnight trade. That is not how I view the stock at the moment.
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Readers will note below the incredibly thick slate of Fed speakers set for today (Thursday). In addition to Fed Chair Jerome Powell who will speak at the US Treasury Market Conference in New York City at 09:20 ET, Treasury Secretary Janet Yellen will speak from the same conference almost two hours later. Is there a message to be sent, or driven home for investors and traders?
The two leaders will be sandwiched by at least nine public appearances made by at leas...
The two leaders will be sandwiched by at least nine public appearances made by at leas...
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