The bulls took control early last week but could not hold the breakout through the intermediate channel line at 2727. By the end of the week the SPX had fallen back to the line.
By the end of the year the Fed will have withdrawn $450 billion from the banking system. The annual bloodletting will then plateau at $600 billion per year until the balance sheet reaches a tight reserve position. But loan demand is increasing. Here’s why that’s bad news.
All swing cycles are now in gear in down phases. This is a nasty setup that indicates that gold is now at its most vulnerable. But there’s a glimmer of hope! Here’s why.
The bears’ line in the sand held last week but the war isn’t over yet. Here are the parameters of the battle and what to expect when they break.
Treasury auction demand has risen along with supply recently but bond prices keep falling and yields keep rising. Why? Because buyers must liquidate bonds in the secondary market to raise the cash to buy new issues. That’s just one sign of the tightening liquidity noose that is strangling the markets. There are more. Here’s what they are, and why you…
Tax collections surged in April on a massive gain in individual non-withheld income taxes. On the other hand, social security taxes, which weren’t impacted by tax law changes, showed no gain on an inflation adjusted basis. Here’s what that means for your investments.
Here are the latest targets for the current moves in gold and the mining stock index.
The market met the best hopes of bulls and worst expectation of bears last week as it broke out above 2673 and hit my potential target of 2725. It’s in a meltup channel but faces multiple resistance lines. Here’s where they are and what to look for.
The macro liquidity picture shows you why this rally should be sold.
Key cycles have entered down phases. Here’s where they’re headed.
The market is again at a crossroads. A strong start to this week could trigger buy signals on the 10-12 month cycle. But bears could stay in control if certain things happen. This report covers the triggers for both scenarios.
Withholding tax collections continued their decline in the month ended April 30, reflecting the impact of the new tax law. As a result, we should continue to expect increases in Treasury supply to pound the market every month. Here’s how this works and what it means for the market.
Posts from Other Publishers
Bitcoin prices continued their downward trend as markets absorb the ongoing investigation by the U.S. Justice Department into the manipulation of the cryptocurrency.
But the worst may be over.
Billionaire and cryptocurrency investor Mike Novogratz says…
One of the key promises of cryptocurrencies to their ‘users’/’investors’/’gamblers’ has been that of security of data stored on cryptos-backed blockchains and crypto ‘assets’ held by their owners. Yet, scandal after scandal, the myth has been deflated …
Last week, I reported on a sharp drop in repo fails for the week of May 9. The decline was so much that FRBNY indicated there were essentially no fails during those five trading sessions. It was way out of line with recent history and opened up little more than wild speculation as to what…
Theorists of all kinds and persuasions agree: We’re almost certainly hurtling toward a cashless, digital currency-using society at some point in the not-too-distant future.
The question is, what is it going to look like?
Realistically, it will be now…
There are three major housing related data series published each and every month. The first is on construction of new units, the intersection of real estate and the macro economy compiled by the Census Bureau. The second is the number of newly built single-family homes that have been sold, relating obviously to the level of…
Stocks took a dive when word hit that the Trump-Kim summit was cancelled – dead on arrival. But we weren’t the least bit surprised.
We saw it coming a month ago, and it only makes the case for owning this stock that much stronger.
To get …
Market concentration can easily lead to a “Medici vicious circle,” where money is used to get political power and political power is used to make money.”
The Fed’s tightening is hitting the markets. It has sent bond prices plunging and yields soaring. And it has stopped the bull market in stocks in its tracks. Is it also beginning to show up in banking indicators? Well, maybe not yet, but that’s no reason to be complacent. Bankers and borrowers are often the last to get the news and feel the pinch.
First, let’s consider just how dangerous the current situation is. We know in retrospect, and some of us were well aware at the time, that there was a raging credit bubble in the 2004-07 period. If that was a bubble, what’s today? I’ll let you be the judge. Here’s a chart of total bank loans through early May.
The promise of the contingent workforce and technological enablement of ‘shared economy’ is that today’s contingent workers and workers using own capital to supply services are free agents, at liberty to demand their own pay, work time, working conditi…
“And the star-spangled banner in triumph shall waveO’er the land of the free and the home of the brave!”The premise of the American Exceptionalism rests on the hypothesis of the State based on the principles of liberty.Enter Amazon, a corporation ever …