Blogs

<p>The Magnificent Seven is now the Super Six.</p><p>Shares of Tesla are now down 32% from the December 27 high of $265, including a 13% post-earnings drop today. The fall to $180 is the lowest since May 2023.</p><p>Shares are wildly oversold with the daily RSI at 16.8 but the chart isn't a pretty picture with no

<p>Oil is having itself a strong day on worries that Iran may be pulled into a Middle Eastern war and with the Red Sea closure looking like a real quagmire.</p><p>In addition, oil is getting a tailwind from strong US GDP data and hopes for better Chinese growth.</p><p>Technically, the break above the December high is u

<ul><li>Open to start discussing future rate cuts in March if data points to inflation hitting 2% this year</li><li>March pivot would pave way for rate cut most likely in June</li></ul><p>So they're open to signalling it March but not really ready to cut until June. The market is pricing in 50 bps in J

<ul><li>0.3 bps tail</li><li>Bid to cover 2.57 vs 2.50</li></ul><p>Yesterday's 2 basis point tail in 5s was problematic for the whole market. Sevens are less of a focus and we're seeing a solid post-auction bids so I'd say the coast is clear. The Treasury refunding announcement next Wednesday

<p>Earlier this month, Ukraine called for talks but it turned out those talks didn't include Russia and were pre-conditioned on the return of all Ukrainian territory and prosecution for war crimes. That's a bit of a non-starter.</p><p>So we'll wait on where this goes but I'm not exactly holding my breath. That

<p>The EURUSD moved lower on the back of the ECB rate decision and the press conference from ECBs Lagarde. In the process, the pair moved below the 200-day MA at 1.08432 and toward a key swing between 1.08038 to 1.08243. </p><p>Move below that level and traders will be looking toward the 50% of the move […]

<p>The USDCAD moved sharply higher yesterday after the Bank of Canada interest rate decision. The price moved up toward the high price of last week at 1.35411, but fell short of that target. The subsequent move to the downside today took the price back down toward its 200 day moving average at 1.3483. Other moving […]

<p>Given a lower euro, falling bond yields and higher US stocks, I would have expected much better from Europe:</p><ul><li>Stoxx 600 +0.4%</li><li>German DAX +0.1%</li><li>UK FTSE 100 +0.1%</li><li>French CAC +0.1%</li><li>Italy MIB -0.6%</li><li>Spain IBEX -0.6%<

<ul><li>Prior was -1</li><li>Six month index +11</li><li>New orders -19</li><li>Employment -2</li></ul><p>The six-month metrics are all good in this index but the present ones are poor and that's not the first time we've seen that lately. There's something strange in t

<p>The USDCHF has moved higher in trading today and in the process technicals have improved:</p><ul><li>The low yesterday held against it to her poor moving average on 4-hour chart (currently at 0.8608)</li><li>Today, the price low stalled against a rising trend line</li><li>The price is currently abo