Data out this month show slowing business activity & new orders relative to the prior month, compounded with an unexpected slowdown in wage growth, forecasting a pullback from here with a complete patterns is logic.
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Disney is a longer-term position with an expected target of $170. Content distribution as the driver!
He who speaks of preference will win the 2020 elections.
Quick update on Boeing.
1 to 1 target for Wave 5 would complete somewhere around $2,940. At present there is no opportunities to buy or sell the S&P 500.
API data released at 4.30pm EST on Tuesday show a "surprise" build, however, with expected weakness in hard data there should be no surprises. EIA data will either confirm or deny API's release.
Crude has reached and surpassed our expected target of $61.60 for a reversal. Look for weakness into the close of day today.
Recent price action in copper looks terrible.
Todays IPO for LYFT was rather successful, suggesting that UBER could possibly top the $100bn mark. However, its too easy to get caught up in the noise, an IPO is an exit strategy!
Facebook continues to trade as expected however, the decline might be halted at the 50% Fibonacci based on how the current structure is unfolding.
The time to buy was last November/December, today you should be moving stops higher and protecting gains!
My concerns of anything more than a pullback are subsiding, Chinese PMI is in expansion once more which is confirming that the majority of poor economic performance is likely finished. Over the next 6 months we expecting to see hard data underperform, compounded with a rising dollar it is a headwind for equities.
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Despite all the bad news, we are likely to see a bounce occur around these levels.
Chesapeake is likely to see some real buying into April if section 232 tariffs on Uranium are passed (high probability)
Over the past week, my tone has switched a little more bearish. I was advocating for a blow-off top in equities before this cycle ends, however, on a second look at the data the leading indicators are continuing to show weakness over the coming 6 months. Certain aspects of the economic data are positive however, which makes it difficult to be outright bearish or...
Hi all, TLT is continue to rise as expected from our update last week. Contrary to popular belief I do believe that $131 will be a meaningful top.