Indian stocks have been bullish relative to much of the rest of the world, but… It appears little more than a macro parlor trick as the Indian Rupee dive bombs along with all the others in relation to USD. This is the classic ‘currency down, stocks up (until recently)’ currency depreciation play. The chart shows a Megaphoning BSE Sensex along with said Rupee tankage below. … Continue reading In India it appears as simple as currency depreciation
The TSX Venture (TSX-V) index is in trouble Have the drones on Twitter taken up their pitchforks and torches and marched upon their inflationist (gold bugs or otherwise) influencers yet? Seriously, inquiring minds who would like to take advantage of the developing situation want to know. NFTRH has been noting the negative divergence to inflation by this most speculative of inflation trade destinations for all … Continue reading Last ditch for the speculative inflation trades
Chinese stocks are making a move, BABA stock bumps above the SMA 50 The trends are down, but I added BABA at 82.50 just prior to earnings on a pure bottom feed with no TA based reason to do so. It was just that I’d had enough of the ‘drubbing of China’ narrative and thought it might be time to give this former darling a … Continue reading Don’t sleep on China
Russia iShares (ERUS) destroyed Even at support and if it were a technical bottom feed buying opportunity I would not touch this POS as a lunatic leads his country into the gutter. US and other markets are getting dinged (I took a solid 8% profit on a volatility hedge added on Friday for weekend protection) but oh, Mother Russia. Annihilation. One thing I find heartening … Continue reading Well Vlad, here is where you have brought Mother Russia
Himax (HIMX) busts a move [edit2] A subscriber informs me that Hymie is something that Jesse Jackson calls Jewish people and is offensive. Not that it needs clarification but that is something I have never heard or known about. I actively avoid racist morons like Jesse Jackson or any other media muckraker/hate monger. In my mind Hymie goes back to much simpler times… I grew … Continue reading Little Hymie and lessons learned [w/ edit] & another !
Man stares at SOHU chart, sees it doing the right thing As with Weibo before it, Sohu, which I bought to replace WB when I sold it, is doing what I’d hoped and what the chart had said it could do, +20% this morning. Like WB, SOHU was bought despite the damage being done to Chinese stocks by their central planners and China/US relations. I … Continue reading So Hu is your morning going?
Weibo stock rises while other Chinese stocks sink As word of crackdowns (from both China’s central planners and the US) on large Chinese companies intensifies and FXI drops… …one stock is going the other way. WB is +13% after being +40% at one point in pre-market. First there was news that it is being taken private, but then quickly followed a denial by the company. … Continue reading Weibo bucks China wipe out on rumor
ACWX (world, ex-US) sports a Diamond pattern in the making. People incorrectly (IMO) label this as a reversal pattern when actually in my experience a Diamond tends to be a pause to consolidate prior to either a reversal or a continuation of the previous trend. So that is all it is, a decision point about further rally potential. Given the waning momentum indicators (it’s similar … Continue reading World in a Diamond
A bullish looking daily chart pattern appears… Also of note is that daily RSI has gone positive on all items, as has MACD on all but AAXJ. A key is for the pattern to hold the 50 day averages in each case. But a couple of them have nearby gaps below. Here is the pattern on the Emerging Markets fund, EEM. Here it is on … Continue reading A Pattern Shows Up in Multiple Places
TSX-V is in a cyclical bull market The TSX-V, which has been one of our main post-crash inflationary guides, has joined the likes of the Agricultural index, Copper and other markets in a cyclical bull market by taking out the previous high. A cyclical bull is just that, a cycle. The ‘V’ is already there and it could end tomorrow or more likely in my … Continue reading Just Another Cyclical Bull Market
Recently, I bought GWPH after it had been given a haircut of about 25% from where I last sold it. I had to take a small loss because it broke down last week, as you can see. But yesterday I noticed there was a sneaky little April gap that got filled and as noted in the Trade Log… For absolutely no chart-based reason other than … Continue reading GWPH: Keep Swinging, Sometimes You Hit One Out
I have been nursing a big breakout theory on the Nikkei since it broke out in 2016. I have not held Japanese stocks for most of that time but have stayed aware of the potential of this long ago cast aside market. The target is 35000. They say that the more times resistance is banged at the weaker it becomes. Nikkei may well have been … Continue reading Japan
Before TSX-V (CDNX, JX) made a lower short-term low today NFTRH 617 noted (along with a chart)… “Did TSX-V put in a little double top or is it just consolidating? If it’s a top, it appears to be a minor one, perhaps in preparation for a test of the up-turned SMA 50.” For those of us holding positions in members of this index the question … Continue reading TSX-V Makes a Lower Short-term Low
Let the US dollar bounce, let Treasury yields pull back, let the global reflation trades take a hit… and still, the TSX-V continues upward. On the daily chart, at least. Daily: It’s robotic up, after taking out the moving averages. Weekly: Here comes resistance, followed by more resistance. Monthly: Aye aye aye, that’s a lot of resistance traffic to clear if this is going to … Continue reading And Still da ‘V’ Keeps Motoring