Crude Oil Elliott Wave Analysis: Nearing Bearish Reversal?
See It Market
by T. Pizzuti and K. Hulse
10h ago
Crude oil futures appear to have begun the next big downward push which could persist into autumn or winter. On a faster time frame though, a minor upward retrace is probably due. In this update, we show our current crude oil Elliott wave count which is slightly revised from what we posted here in April. We believe the sideways corrective pattern (b) finished with the April 2024 high, making the more recent decline likely the first segment of downward wave (c). Let’s discuss the chart below. Created with GIMP Even though we think the larger crude oil Elliott wave trend is now downward, th ..read more
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Transportation ETF (IYT) Is Crashing Without Breaking News
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by Michele Schneider
10h ago
Once again, while semiconductors roared to new highs, Transportation as seen through IYT the ETF, sold off. Retail XRT closed marginally green after better than expected consumer confidence data. Regional Banks fell closer to the critical levels of support. Biotech had a bad day as well. And Bitcoin is also back testing criticial support. This is leaving a very bad taste in the mouth of astute investors. However, it is also proving that stagflation, currently a grossly underused word, is becoming ever more present.  Wheat is just the latest example of a commodity making a move up in the ..read more
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Do Gold and Silver Still Have More Trading Upside?
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by Guy Cerundolo
10h ago
Precious metals have been very bullish in 2024. Gold recently recorded new all-time price highs. And silver has made new multi-year highs. After some backing and filling, both gold and silver are at trading price support areas where we could see reversals back to new highs. The metals have bounced a bit and are now nearing overhead buy trigger levels that could trigger as early as today. Below are charts of Gold and Silver. Check out my research offerings on Cerundolo Investment Research. Twitter: @GuyCerundolo The author or his firm have a position in mentioned securities at the time of ..read more
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Stock Market Volatility: Keep Calm and Carry On?
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by Connected Wealth
10h ago
Should it be any surprise how calm markets have become? Global equities are up 9.2% year to date. Apart from a 2% decline in January and a 5% drop in April, the trend has been up steadily to the right on the chart. We can easily slap a financial narrative on this, such as improving global economic growth, a decent Q1 earnings season, or maybe it’s just the AI frenzy. More than a third of the advances in global equities are attributed to Nvidia, Microsoft, Amazon, Meta, and Alphabet. Whatever the cause, equity volatility has been very calm so far in 2024. But it is more than this, as it isn’t j ..read more
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Stock Market Update: Eyes On The Transportation Sector (IYT)
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by Michele Schneider
20h ago
For the sake of redundancy and in case you are living under a rock and just came out to read my Daily, Nvidia (NVDA) and its ginormous beat on revenues, gave the market new life. Happily, our very own Sister Semiconductors, SMH, moved up to new all-time highs and gave our portfolios quite a boost. Nonetheless, she has a Family. They are: Granny Retal XRT Granddad Russell 2000 IWM Big Brother Biotechnology IBB Prodigal Son Regional Banks IBB Transportation IYT Bitcoin BTCUSD Read more about them and why I call them the Economic Modern Family. While SMH has soared to new heights, the rest ..read more
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Are Semiconductor Stocks Targeting Much Higher Prices?
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by Chris Kimble
5d ago
Technology stocks remain hot as semiconductor stocks like Nvidia (NVDA) continue to lead the way higher. In that light, we take another look at the red-hot Semiconductors Sector ETF (SMH) and highlight why it should be on your radar. Note that we have written about several similar trading setups lately. “The facts, Ma’am. Just the facts.” – Joe Friday Below we have a “weekly” chart of the Semiconductors Sector ETF (SMH). When applying Fibonacci extensions using the 2020 low and 2021 high, we can see that SMH is currently attempting to breakout above its 161% Fibonacci extension level. Barring ..read more
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Summer Cinema Crunch: Box Office Sales Off to Slow Start
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by Mike Zaccardi
6d ago
The following research was contributed to by Christine Short, VP of Research at Wall Street Horizon. Amid drama in the media and movie industries, this year’s box office revenue tracks below 2023’s pace Netflix continues to dominate while other players reshuffle their teams and strategies  Life beyond markets and trading screens – we highlight the major movie releases this summer It’s the unofficial kickoff to summer this weekend. Millions of Americans are expected to hit the road and fly the skies to enjoy warmer weather and get a break from the grind. We’ve seen just how popular many ..read more
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Is Gold Miners ETF (GDX) Nearing Historic Breakout?
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by Chris Kimble
6d ago
Gold prices have moved steadily higher and this has provided a strong tailwind to gold mining stocks. Today, we’ll highlight a very bullish setup in this sector by looking at the Gold Miners ETF (GDX). The chart below is a long-term “monthly” chart that highlights a massive triangle pattern that has developed for GDX. And, as you can see, GDX has rallied up to the top of the triangle. This is major resistance and needs to be on every GDX bulls radar. While a pullback would be normal here, in my humble opinion, it will be a BIG deal if/when GDX breaks out from this monster pennant pattern! Stay ..read more
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The Digital Economy: Blockchain and Investing
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by Michele Schneider
1w ago
Following up with the more fun notion of dogecoin as written about yesterday, today we look at blockchain. If you’re like me, you need to increase your understanding of why blockchain technology is a game changer in our evolving digital world. We all know that blockchain is most famously associated with cryptocurrencies, enabling secure and decentralized payments. Here are a few more mainstream uses: The main benefits of all the applications in these areas are greater efficiency, accuracy, transparency, and cost-savings. However, it is not without its challenges. Scalability, as there are f ..read more
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AI Data Centers And Electric Vehicles Create Incredible Opportunities
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by Michael Lebowitz
1w ago
Some winners from the artificial intelligence (AI) and electric vehicles (EV) boom are easy to spot. For instance, shares of Nvidia, Microsoft, Tesla, and other companies have posted significant gains, anticipating a surge in future revenue and profits. The development of AI data centers and the continued growth of EVs will benefit industries and companies that are not yet as closely followed. As a result, the stock prices of some companies in these industries may have some catching up with those mentioned above. This article focuses on the potential beneficiaries of the significant investment ..read more
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