One simple chart points to a stock market rebound

The Dow Jones Industrial Average, up more than 200 points at session highs, edged back by the middle of the session, while the S&P 500 retreated from its own highs. “Look at the S&P 500, just at its 200-day moving average, take away the daily day-to-day movements. Since the beginning of 2018, the S&P 500 moved as high as a record 3,025 last month and as low as 2,346 during its December slump. Hickey says this is the third consolidation phase the S&P 500 has been in since the lows of the financia


The Dow Jones Industrial Average, up more than 200 points at session highs, edged back by the middle of the session, while the S&P 500 retreated from its own highs. “Look at the S&P 500, just at its 200-day moving average, take away the daily day-to-day movements. Since the beginning of 2018, the S&P 500 moved as high as a record 3,025 last month and as low as 2,346 during its December slump. Hickey says this is the third consolidation phase the S&P 500 has been in since the lows of the financia
One simple chart points to a stock market rebound Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: keris lahiff
Keywords: news, cnbc, companies, hickey, simple, sp, market, upward, trading, points, rebound, highs, 200day, spy, stock, chart, 500, trend, average


One simple chart points to a stock market rebound

Wall Street’s big rebound from a days-long sell-off lost a little steam Tuesday.

The Dow Jones Industrial Average, up more than 200 points at session highs, edged back by the middle of the session, while the S&P 500 retreated from its own highs. A day earlier, both indexes suffered their worst day of the year as trade tensions between the U.S. and China escalated.

Paul Hickey, co-founder of Bespoke Investment Group, says the stock market’s upward march will resume.

“Step away from the noise,” Hickey said on CNBC’s “Trading Nation ” on Monday. “Look at the S&P 500, just at its 200-day moving average, take away the daily day-to-day movements. When you look at a chart like that, what you see is that the S&P 500 is essentially, with all the flopping up and down is done, is essentially right where it was 18 months ago.”

Since the beginning of 2018, the S&P 500 moved as high as a record 3,025 last month and as low as 2,346 during its December slump. The 200-day moving average, which smooths out intraday and day-to-day volatility, shows the S&P 500 in a period of consolidation over this stretch.

Hickey says this is the third consolidation phase the S&P 500 has been in since the lows of the financial crisis. Aside from those stretches of stasis, the markets have been on an upward trajectory, a trend Hickey expects to resume.

“We’ve just recently seen the 200-day move to new highs out of this sideways range. So, that tells you that the trend still is intact,” said Hickey. “This is more likely to just be some more of this noise that we’ve seen repeatedly over the last several months.”

This particular sell-off also has a historical precedent, says Hickey. Since the SPY S&P 500 ETF started trading, there have been 18 times that it has fallen by more than 1% on a Monday following a week in which it lost 2% or more. From that Monday close to the following Monday’s close, the SPY ETF added an average 2%.

“You tended to see a rebound in equities. So, that would go along with … our whole idea that the last three days has been a shock to the market, but it’s not necessarily a major long-term shock to the market,” said Hickey.


Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: keris lahiff
Keywords: news, cnbc, companies, hickey, simple, sp, market, upward, trading, points, rebound, highs, 200day, spy, stock, chart, 500, trend, average


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The stock market could be in for a ‘VIXplosion,’ says widely followed strategist Sven Henrich

And while muted market fears might seem advantageous for now, the VIX could effectively be a ticking time bomb, says Sven Henrich, founder and lead market strategist at NorthmanTrader. “The VIX follows some very specific patterns that show compression,” Henrich said Friday on CNBC’s “Trading Nation.” “If you look back to, let’s say, the last few years, we’ve seen a large compression pattern from 2016 to 2017.” “It’s compressing tighter and tighter, and it’s building up this pattern,” Henrich sai


And while muted market fears might seem advantageous for now, the VIX could effectively be a ticking time bomb, says Sven Henrich, founder and lead market strategist at NorthmanTrader. “The VIX follows some very specific patterns that show compression,” Henrich said Friday on CNBC’s “Trading Nation.” “If you look back to, let’s say, the last few years, we’ve seen a large compression pattern from 2016 to 2017.” “It’s compressing tighter and tighter, and it’s building up this pattern,” Henrich sai
The stock market could be in for a ‘VIXplosion,’ says widely followed strategist Sven Henrich Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-26  Authors: lizzy gurdus
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The stock market could be in for a 'VIXplosion,' says widely followed strategist Sven Henrich

We could be headed for a VIXplosion.

The CBOE Volatility Index, known commonly as the VIX or the stock market’s fear gauge, has been sitting at relatively low levels as stocks reach all-time highs.

And while muted market fears might seem advantageous for now, the VIX could effectively be a ticking time bomb, says Sven Henrich, founder and lead market strategist at NorthmanTrader.

“The VIX follows some very specific patterns that show compression,” Henrich said Friday on CNBC’s “Trading Nation.” “If you look back to, let’s say, the last few years, we’ve seen a large compression pattern from 2016 to 2017.”

That compression — demonstrated by a series of lower highs and lower lows in the VIX made over time — builds up what Henrich referred to as “energy” that could soon result in an all-out burst.

“When that energy compresses too much, then we see these spikes,” the strategist said. “We have seen these spikes with quite a bit of regularity, but they always need some sort of trigger, and perhaps the Fed may be the trigger next week.”

And, with the month of August approaching — which typically sees the lowest trading volumes of the year — investors simply may not be prepared for the swings that could occur.

“[I] see a lot of complacency right now,” Henrich said. “This week we had news of antitrust investigations for Nasdaq. What’d the Nasdaq do? Made new all-time highs. It’s not pricing in any bad news whatsoever.”

And, as the VIX forms a narrower wedge pattern, it looks like it’s increasingly primed for another pop to the upside, he said.

“It’s compressing tighter and tighter, and it’s building up this pattern,” Henrich said. “So, it’s ready for another breakout. The question is the when and the how.”

Factor in a gap that the VIX needs to fill between the 24 and 25 levels, made in January during Federal Reserve Chair Jay Powell’s speech about being “patient” with monetary policy, and a number of similar gaps on the downside in the S&P 500, and the risks are clearly building, Henrich warned.

“Let me add one additional point, very important: from a Nasdaq perspective, while we see the Nasdaq making new highs, there’s no visible expansion in new highs versus new lows in these indicators, ” he said. “It’s very much flatlined. So, again, we’re seeing participation waning in favor of a few individual stocks on the Nasdaq.”

The VIX tracks option prices to measure near-term expectations of volatility, or the odds that the stock market will endure bigger swings in the near future. When the VIX rises, it tends to mean investors are growing concerned about the market and making bets to protect themselves.

The fear gauge dropped by nearly 5% in Friday trading, settling at just over 12.

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Company: cnbc, Activity: cnbc, Date: 2019-07-26  Authors: lizzy gurdus
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S&P 500 and Nasdaq close at record highs as tech sector shakes off new regulatory threat

The S&P 500 and Nasdaq Composite reached all-time highs on Wednesday, propelled by a rally in chip stocks as investors shook off regulatory concerns facing Big Tech. UPS jumped more than 8% after posting earnings and revenue that topped analyst expectations. AT&T, meanwhile, gained 3.6% after the company reported net phone subscriber growth that topped estimates. Caterpillar shares slid 4.5% after the company reported weaker-than-expected earnings and revenue amid rising costs. While stocks “are


The S&P 500 and Nasdaq Composite reached all-time highs on Wednesday, propelled by a rally in chip stocks as investors shook off regulatory concerns facing Big Tech. UPS jumped more than 8% after posting earnings and revenue that topped analyst expectations. AT&T, meanwhile, gained 3.6% after the company reported net phone subscriber growth that topped estimates. Caterpillar shares slid 4.5% after the company reported weaker-than-expected earnings and revenue amid rising costs. While stocks “are
S&P 500 and Nasdaq close at record highs as tech sector shakes off new regulatory threat Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-24  Authors: fred imbert
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S&P 500 and Nasdaq close at record highs as tech sector shakes off new regulatory threat

The S&P 500 and Nasdaq Composite reached all-time highs on Wednesday, propelled by a rally in chip stocks as investors shook off regulatory concerns facing Big Tech.

The broad index rose 0.5% to 3,019.56, a record. The tech-heavy Nasdaq jumped nearly 0.9% to end the day at 8,321.50. The VanEck Vectors Semiconductor ETF (SMH) gained 2.7% to hit a record, led by a 7.4% rally in Texas Instruments sparked by better-than-expected quarterly results.

Other companies such as UPS and AT&T also got a boost from strong results.

UPS jumped more than 8% after posting earnings and revenue that topped analyst expectations. The company said higher demand for its Next Day Air and Ground services drove its strong results.

AT&T, meanwhile, gained 3.6% after the company reported net phone subscriber growth that topped estimates. The telecom giant also raised its 2019 free cash flow guidance.

However, the Dow Jones Industrial Average closed 79.22 points lower at 27,269.97 as investors pored through disappointing earnings from Boeing and Caterpillar.

Boeing shares dropped 3.1% after the aerospace giant posted a massive loss for the previous quarter. The loss comes as costs pile up while its 737 Max jet remains grounded. The company also warned it could suspend production of its flagship jet if delays worsen.

Caterpillar shares slid 4.5% after the company reported weaker-than-expected earnings and revenue amid rising costs. The company has been under pressure as U.S. tariffs on Chinese goods remain in place while the two countries try to work out a trade deal.

“The mixed earnings picture and comments on the economy that we have heard from companies so far now coincides with a somewhat mixed technical backdrop for the market in the near-term,” said Dan Russo, chief market strategist at Chaikin Analytics. While stocks “are trading near their recent all-time highs, under the surface there are signs that the bulls could take a breather.”


Company: cnbc, Activity: cnbc, Date: 2019-07-24  Authors: fred imbert
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Stocks slip from record highs after Trump says ‘long way to go’ on trade talks with China

Stocks fell from record highs on Tuesday after President Donald Trump cast doubt on the trade progress between China and the U.S. The Dow Jones Industrial Average slipped 23.53 points, or 0.1%, to 27,335.63, ending a four-day winning streak. The S&P 500 closed 0.3% lower at 3,004.04 and snapped a five-day winning streak. They also come as the U.S. corporate earnings season kicks into full gear. “Looking at this earnings season, the key question is: Will trade uncertainty cause businesses to pull


Stocks fell from record highs on Tuesday after President Donald Trump cast doubt on the trade progress between China and the U.S. The Dow Jones Industrial Average slipped 23.53 points, or 0.1%, to 27,335.63, ending a four-day winning streak. The S&P 500 closed 0.3% lower at 3,004.04 and snapped a five-day winning streak. They also come as the U.S. corporate earnings season kicks into full gear. “Looking at this earnings season, the key question is: Will trade uncertainty cause businesses to pull
Stocks slip from record highs after Trump says ‘long way to go’ on trade talks with China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: fred imbert
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Stocks slip from record highs after Trump says 'long way to go' on trade talks with China

Stocks fell from record highs on Tuesday after President Donald Trump cast doubt on the trade progress between China and the U.S.

The Dow Jones Industrial Average slipped 23.53 points, or 0.1%, to 27,335.63, ending a four-day winning streak. The S&P 500 closed 0.3% lower at 3,004.04 and snapped a five-day winning streak. The Nasdaq Composite fell 0.4% to 8,222.80. The averages had notched all-time closing highs in the previous session.

Trump said the two countries have a “long way to go” on trade, adding the U.S. can slap tariffs on an additional $325 billion worth of Chinese goods “if we want.”

Trump’s comments come after China and the U.S. agreed not to ratchet up trade tensions in an effort to restart negotiations. China and the U.S. have slapped tariffs on billions of dollars worth of each other’s imports since last year. The ongoing trade war has sparked fear of slower economic growth around the world. They also come as the U.S. corporate earnings season kicks into full gear.

“Looking at this earnings season, the key question is: Will trade uncertainty cause businesses to pullback on spending and investment enough so that it begins to weigh on earnings?” said Tom Essaye, founder of the Sevens Report, in a note. “If there is evidence that businesses beyond China-focused industrials also are starting to become more conservative, then that will be a big negative for future earnings.”

Goldman Sachs reported better-than-expected results, driven by the company’s investment banking and trading divisions. Goldman shares rose 1.9%.

J.P. Morgan Chase ‘s results also topped estimates and its stock rose 1.1%. Johnson & Johnson, however, fell 1.6% despite reporting a 42% profit surge in the previous quarter.


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: fred imbert
Keywords: news, cnbc, companies, earnings, season, tariffs, stocks, worth, streak, slip, rose, record, trade, long, china, winning, fell, way, highs, talks, trump


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The next big risk that could end the stock rally is here

Earnings season is seen as the next big risk for a stock market that has soared to record highs on expectations that the Federal Reserve will start cutting interest rates, as early as its next meeting, July 30-31. “Either way, earnings season, more than previously, is going to be a minefield because of these tariffs and a slowing growth story — and stocks that are at record highs. The earnings season kicks off in a big way in the coming week, starting with the major banks, and Citigroup is first


Earnings season is seen as the next big risk for a stock market that has soared to record highs on expectations that the Federal Reserve will start cutting interest rates, as early as its next meeting, July 30-31. “Either way, earnings season, more than previously, is going to be a minefield because of these tariffs and a slowing growth story — and stocks that are at record highs. The earnings season kicks off in a big way in the coming week, starting with the major banks, and Citigroup is first
The next big risk that could end the stock rally is here Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: patti domm
Keywords: news, cnbc, companies, big, going, highs, tariffs, slowing, stock, rally, risk, week, sp, companies, end, earnings, season, impact


The next big risk that could end the stock rally is here

Stocks could struggle if the earnings message from corporate America focuses on the murky outlook for the economy and negative impacts from the trade wars when companies start reporting second-quarter results in the week ahead.

Earnings season is seen as the next big risk for a stock market that has soared to record highs on expectations that the Federal Reserve will start cutting interest rates, as early as its next meeting, July 30-31.

“If the data doesn’t corroborate expectations right now, it’s going to be more of a choppy market,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. “Either way, earnings season, more than previously, is going to be a minefield because of these tariffs and a slowing growth story — and stocks that are at record highs. That doesn’t leave much room for error.”

The earnings season kicks off in a big way in the coming week, starting with the major banks, and Citigroup is first out of the gate Monday. It will be quickly followed by Goldman Sachs, Wells Fargo and industry bellwether J.P. Morgan on Tuesday, Bank of America on Wednesday and Morgan Stanley on Thursday.

Stocks set new highs in the past week, and were heading Friday for gains for the week of more than a half percent after surpassing some major milestones. The S&P 500 rose above 3,000 for the first time ever, and the Dow passed 27,000. The Fed “put,” or promise of easy policy should limit the downside for now, analysts said.

Earnings are expected to decline for the S&P 500 by 2.9% for the second quarter, according to FactSet. Of 114 companies that issued guidance for the quarter, 77% released negative forecasts, according to FactSet data.

Already Fastenal, in its earnings report, said Thursday that it was impacted by tariffs, and that it was able to raise prices but it was also hit by rising costs.

“They talked about slowing growth … and the impact tariffs are having on their costs. They’re trying to pass it on,” said Boockvar, adding other multinationals could follow. “You’re talking about the S&P 500, where 40% of revenues are sourced overseas and overseas is slowing. They’re obviously going to be hit.”

Boockvar said the impact of higher tariffs is yet to be seen, after President Donald Trump raised tariffs on $200 billion in Chinese goods to 25% from 10% on May 10. “This quarter’s earnings are really going to define the impact. A lot of companies said ‘10% we can handle, but 25% is a problem.’ Now we’re at 25%. How much of a problem is it going to be?” said Boockvar.


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: patti domm
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Stocks fall from record highs after strong jobs report dampens hope of a Fed rate cut

Stocks fell from all-time highs on Friday after the release of stronger jobs data dampened hope for easier Federal Reserve monetary policy. The S&P 500 slipped 0.2% to 2,990.41 and ended a five-day winning streak. Earlier in the session, the Dow dropped as much as 232.67 points, while the S&P 500 and Nasdaq slid nearly 1% each. The Dow and S&P 500 rose more than 1% each this week while the Nasdaq gained nearly 2%. Bregar added, however, he does not think the strong jobs data is enough to keep th


Stocks fell from all-time highs on Friday after the release of stronger jobs data dampened hope for easier Federal Reserve monetary policy. The S&P 500 slipped 0.2% to 2,990.41 and ended a five-day winning streak. Earlier in the session, the Dow dropped as much as 232.67 points, while the S&P 500 and Nasdaq slid nearly 1% each. The Dow and S&P 500 rose more than 1% each this week while the Nasdaq gained nearly 2%. Bregar added, however, he does not think the strong jobs data is enough to keep th
Stocks fall from record highs after strong jobs report dampens hope of a Fed rate cut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-05  Authors: fred imbert, patti domm
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Stocks fall from record highs after strong jobs report dampens hope of a Fed rate cut

Stocks fell from all-time highs on Friday after the release of stronger jobs data dampened hope for easier Federal Reserve monetary policy.

The Dow Jones Industrial Average pulled back 43.88 points to 26,922.12, snapping a four-day winning streak. The S&P 500 slipped 0.2% to 2,990.41 and ended a five-day winning streak. The Nasdaq Composite fell for the first time in seven sessions, slipping 0.1% to 8,161.79. Earlier in the session, the Dow dropped as much as 232.67 points, while the S&P 500 and Nasdaq slid nearly 1% each.

Despite Friday’s losses, the major indexes posted solid weekly gains. The Dow and S&P 500 rose more than 1% each this week while the Nasdaq gained nearly 2%. Stocks also posted all-time highs on Wednesday.

“The jobs number was solid,” said Gregory Faranello, head of U.S. rates at Amerivet Securities. “The real theme now will be shifting very quickly to what the number means in the context of what we’re pricing in for the Fed in July.”

The U.S. economy added 224,000 jobs in June. Economists had forecast the U.S. added 165,000 jobs in June, after a stunningly low 75,000 jobs were created in May, according to Dow Jones.

Treasury yields jumped on the data. The benchmark 10-year yield traded at 2.05%. The 2-year rate rose to 1.87%. Bank shares got a lift from the higher rates. Citigroup, Bank of America, J.P. Morgan Chase and Wells Fargo all traded higher.

Gold futures dropped 1.4% to settle at $1,400.10 per ounce. The dollar rose 0.6% against a basket of currencies.

“Markets never make it easy. We’ve had a rate-cut trade in place for a while now. That is buy gold, buy bonds. But these things never go on a straight line,” said Erik Bregar, head of FX strategy at the Exchange Bank of Canada.

Bregar added, however, he does not think the strong jobs data is enough to keep the Fed from cutting rates. “If you look at bond markets around the world, they’re worried about something,” he said. “I don’t think central banks have the guts to go against the bond market.”


Company: cnbc, Activity: cnbc, Date: 2019-07-05  Authors: fred imbert, patti domm
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Dow and Nasdaq close at record highs amid expectations for the Fed to lower rates

The S&P 500 also rose 0.7% as the real estate and consumer sectors powered the broad index to record levels. The S&P 500 closed just 0.1% below 3,000. “If technology continues to be strong and the semiconductors get some kind of bounce, that could probably push the S&P 500 through it 3,000. The disappointing data strengthens the Fed’s case for lowering rates at its monetary policy meeting at the end of July. Last month, the central bank opened the door to easier monetary policy by stating it wil


The S&P 500 also rose 0.7% as the real estate and consumer sectors powered the broad index to record levels. The S&P 500 closed just 0.1% below 3,000. “If technology continues to be strong and the semiconductors get some kind of bounce, that could probably push the S&P 500 through it 3,000. The disappointing data strengthens the Fed’s case for lowering rates at its monetary policy meeting at the end of July. Last month, the central bank opened the door to easier monetary policy by stating it wil
Dow and Nasdaq close at record highs amid expectations for the Fed to lower rates Cached Page below :
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Dow and Nasdaq close at record highs amid expectations for the Fed to lower rates

Stocks closed at record highs on Wednesday as investors bet on a potential rate cut from the Federal Reserve later this month after the release of weaker-than-expected economic data.

The Dow Jones Industrial Average gained 175 points, notching intraday and closing all-time highs. The Nasdaq Composite advanced 0.7%.

The S&P 500 also rose 0.7% as the real estate and consumer sectors powered the broad index to record levels. Tech also boosted the index, rising 0.7% to a record high. The S&P 500 closed just 0.1% below 3,000.

“The first time we get there you’ll probably see some profit-taking,” said Scott Redler, partner with T3live.com. “If technology continues to be strong and the semiconductors get some kind of bounce, that could probably push the S&P 500 through it 3,000. It’s good to see the FANG names show some power.”

Shares of Facebook, Amazon, Netflix and Google-parent Alphabet all rose on Wednesday. The session ended at 1 p.m. ET due to the Fourth of July holiday.

Private payrolls in the U.S. increased by 102,000 in June, ADP and Moody’s Analytics said. Economists polled by Dow Jones expected growth of 135,000.

The disappointing data strengthens the Fed’s case for lowering rates at its monetary policy meeting at the end of July. Last month, the central bank opened the door to easier monetary policy by stating it will “act as appropriate” to maintain the current economic expansion.


Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: fred imbert
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Gold prices could reach fresh 6-year highs thanks to a slew of positive drivers

The Fed news, and the nomination of the International Monetary Fund’s managing director, Christine Lagarde, to lead the European Central Bank, created an even more bullish environment for gold, Cooper said Wednesday in an email to CNBC. “Leading up to this recent rally, investors had been very underweight in gold. “We think gold prices should see good technical support around $1,373, so dips below $1,375 look [like] attractive levels to enter back into the gold market,” Cooper said. “We’re expec


The Fed news, and the nomination of the International Monetary Fund’s managing director, Christine Lagarde, to lead the European Central Bank, created an even more bullish environment for gold, Cooper said Wednesday in an email to CNBC. “Leading up to this recent rally, investors had been very underweight in gold. “We think gold prices should see good technical support around $1,373, so dips below $1,375 look [like] attractive levels to enter back into the gold market,” Cooper said. “We’re expec
Gold prices could reach fresh 6-year highs thanks to a slew of positive drivers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: lizzy gurdus
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Gold prices could reach fresh 6-year highs thanks to a slew of positive drivers

Gold is glistening.

The precious metal has rallied 11% this year, with much of the move occurring in the last several months, as concerns around slowing global growth and U.S.-China trade tensions took hold among investors. It continued to tick up on Wednesday after President Donald Trump said he intended to nominate two dovish candidates to the Federal Reserve’s board of governors.

And there’s still room for gold to run, even as far as its six-year highs, according to Suki Cooper, executive director of precious metals research at Standard Chartered Bank.

“There are a number of macro factors that have turned very positive for gold, and even though we’ve seen a little bit of a pullback, we think this is actually a healthy correction,” she said Tuesday on CNBC’s “Futures Now,” referring to the yellow metal’s dip in the previous session.

“Those key drivers of a weaker dollar, falling yields and the continued uncertainty and potential risk that we might see a widespread recession are spurring investors to turn to gold once again as a safe haven asset,” Cooper said.

The Fed news, and the nomination of the International Monetary Fund’s managing director, Christine Lagarde, to lead the European Central Bank, created an even more bullish environment for gold, Cooper said Wednesday in an email to CNBC.

“Dovish central banks, growing negative yielding debt coupled with the impact of trade protectionism on global growth create a favourable cocktail for gold upside risk,” she wrote. “We continue to expect the Fed to cut by 25 [basis points] in July and then again in December, but the market has started pricing in some of the risk much sooner. ”

Compounding this action is a recent surge in gold ETF inflows, she said. In June, gold-based funds saw their highest inflows since the U.K.’s Brexit vote in 2016.

“Leading up to this recent rally, investors had been very underweight in gold. We’re starting to see that move into speculative positioning,” Cooper said. “There’s still much more room to the upside, particularly when it comes to retail demand.”

What really ignited gold’s 2019 rally were worries around U.S.-Mexico trade relations, Cooper said. In late May, Trump threatened to slap tariffs on all Mexican imports if Mexico did not meet his demands regarding border security. The president later reached an agreement with Mexico to hold off on the tariffs “indefinitely.”

Now, the yet-unresolved trade dispute with China, rising tensions in the Middle East and negative debt yields around the world are all also providing fuel for gold’s rally, she said.

“We think gold prices should see good technical support around $1,373, so dips below $1,375 look [like] attractive levels to enter back into the gold market,” Cooper said.

But the second half will likely take the yellow metal to new highs not seen since 2013, she said.

“We’re expecting gold prices to pass $1,400 and average $1,450 in [the fourth quarter],” Cooper said Tuesday. “Particularly as negative debt around the world has continued to grow, we think that’s going to be one of the key, major backdrops that continue to support gold prices.”

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Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: lizzy gurdus
Keywords: news, cnbc, companies, reach, gold, risk, negative, investors, continued, cooper, think, debt, thanks, trade, 6year, fresh, prices, slew, drivers, rally, highs, positive


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Chart analysts see more gains ahead for stocks after breakout to new all-time high

The S&P 500 just set an intraday record Thursday. The number of S&P 500 constituents that have hit new 52-week highs is an indicator of market breadth. There were 96 new 52-week highs Thursday by S&P 500 stocks. While right now the breakout is short term in nature, it could easily become something that has a long-term implication,” Stockton said. The S&P 500 surged nearly 1%, hitting a record intraday high of 2,956.20 on Thursday.


The S&P 500 just set an intraday record Thursday. The number of S&P 500 constituents that have hit new 52-week highs is an indicator of market breadth. There were 96 new 52-week highs Thursday by S&P 500 stocks. While right now the breakout is short term in nature, it could easily become something that has a long-term implication,” Stockton said. The S&P 500 surged nearly 1%, hitting a record intraday high of 2,956.20 on Thursday.
Chart analysts see more gains ahead for stocks after breakout to new all-time high Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: yun li
Keywords: news, cnbc, companies, breakout, high, sp, chart, 500, upside, resistance, rally, stocks, alltime, stockton, gains, analysts, number, market, highs, ahead


Chart analysts see more gains ahead for stocks after breakout to new all-time high

The S&P 500 just set an intraday record Thursday. For doubters thinking the rally is just a last gasp of the decadelong bull market, analysts who study charts to make buying and selling decisions believe there is more room to run.

From market breadth to the breakout from a so-called flag pattern to the number of times major indexes have tested resistance levels, there are technical indicators pointing to more upside for the stock market.

“One indication that gets overlooked which is really, really bullish historically is the expanding number of 52-week highs and that number was over 23% back about two weeks ago,” said Jeff DeGraaf, founder and chairman of Renaissance Macro Research. The number of S&P 500 constituents that have hit new 52-week highs is an indicator of market breadth.

“That just said to us that the internal strength of this market was far better than people were giving it credit for. I think you have to look at those internals and say ‘boy, this is meaningful,'” said DeGraaf.

There were 96 new 52-week highs Thursday by S&P 500 stocks.

Thursday’s rally came after the Federal Reserve hinted Wednesday at a rate cut on the horizon while dropping the word “patient” from its statement. Traders are now pricing in a 100% chance of an easing next month. Hopes for easier monetary policy have helped lift the market from its May turmoil which saw the S&P 500 drop more than 6% amid the escalated trade tensions between the U.S. and China.

“Yesterday we saw a positive reaction to the Fed announcement and it confirmed a short-term breakout from a consolidation phase that we call a flag pattern. The flag pattern tends to see an immediate upside follow-through,” said Katie Stockton, founder and managing partner at Fairlead Strategies.

Source: Fairlead Strategies

“That’s why it’s meaningful because not only did we see a short-term breakout, but given the proximity of final resistance for the S&P 500 of 2,941, an immediate upside follow-through could mean a new all-time high. While right now the breakout is short term in nature, it could easily become something that has a long-term implication,” Stockton said.

If Thursday’s rally holds through Friday, the breakout would be “a big deal” from a technical perspective and would prompt higher price targets, Stockton added. The S&P 500 surged nearly 1%, hitting a record intraday high of 2,956.20 on Thursday.

The Dow Jones Industrial Average, sitting at around 26,700 on Thursday, is currently testing the resistance level of 26,500 to 26,700 for the fourth time, according to Jonathan Krinsky, chief market technician of MKM Partners.

“Usually there’s no such thing as quadruple tops, so I sense that we do see at least marginal new highs on the Dow,” Krinsky said.


Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: yun li
Keywords: news, cnbc, companies, breakout, high, sp, chart, 500, upside, resistance, rally, stocks, alltime, stockton, gains, analysts, number, market, highs, ahead


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‘Bitcoin is easily going to take out its all-time highs’: Fundstrat’s Tom Lee

But that could be just the beginning for its bounce back, says bitcoin bull and Fundstrat Global Advisors’ research chief Tom Lee. “I think bitcoin is easily going to take out its all-time highs” of $20,000, and has the potential to run to $40,000 if its use cases grow, Lee said Tuesday on CNBC’s “Futures Now.” Many in the crypto space were hesitant to agree that the “crypto winter” was indeed over, Lee wrote. “I think it really destroys those arguments that say, ‘I believe in blockchain, not bi


But that could be just the beginning for its bounce back, says bitcoin bull and Fundstrat Global Advisors’ research chief Tom Lee. “I think bitcoin is easily going to take out its all-time highs” of $20,000, and has the potential to run to $40,000 if its use cases grow, Lee said Tuesday on CNBC’s “Futures Now.” Many in the crypto space were hesitant to agree that the “crypto winter” was indeed over, Lee wrote. “I think it really destroys those arguments that say, ‘I believe in blockchain, not bi
‘Bitcoin is easily going to take out its all-time highs’: Fundstrat’s Tom Lee Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: lizzy gurdus
Keywords: news, cnbc, companies, fundstrats, going, bitcoin, currency, think, really, facebook, highs, wrote, digital, crypto, lee, alltime, easily, facebooks, tom


'Bitcoin is easily going to take out its all-time highs': Fundstrat's Tom Lee

Bitcoin appears to be back in business.

Having crossed above the $9,000 level on Sunday ahead of Facebook announcing its own cryptocurrency, Libra, bitcoin is now up 146% this year. But that could be just the beginning for its bounce back, says bitcoin bull and Fundstrat Global Advisors’ research chief Tom Lee.

“I think bitcoin is easily going to take out its all-time highs” of $20,000, and has the potential to run to $40,000 if its use cases grow, Lee said Tuesday on CNBC’s “Futures Now.” “We’re deep into a bull market, and people are pretty silent about it.”

In his latest note, Lee wrote that he felt there was a lack of conviction about bitcoin’s recent rally, based on his attendance at the CryptoCompare Digital Asset Summit in London last week.

Many in the crypto space were hesitant to agree that the “crypto winter” was indeed over, Lee wrote. They cited worries around persistent volatility in alt-coins and initial coin offerings, fundraising issues in the digital currency market, general bearishness and residual concerns stemming from crypto’s huge drop in 2018, he wrote.

But Facebook’s latest move serves to legitimize the space in a way that could provide further runway for bitcoin, which could even become a “reserve currency in crypto” down the line, Lee said Tuesday.

“The Facebook announcement is a complete validation that mainstream is now focused on cryptocurrencies,” he said. “I think it really destroys those arguments that say, ‘I believe in blockchain, not bitcoin.'”

And, while Lee saw Facebook’s Libra project as “clearly a cryptocurrency play,” the main thrust of it revolves around the idea of decentralized finance, he said.

“I think it is more targeted at stablecoin and creating a new kind of banking system, and it’s very complementary to bitcoin,” he said. “So I think this is actually a really bullish development for bitcoin. I think it’s really bad for stablecoins and anyone who’s been trying to do decentralized finance.”

Facebook’s project has the backing of payment processors Mastercard and Visa, as well as travel giant Booking Holdings. Lee noted that decentralization in finance is “probably really good for payment processors” but will likely pose a challenge to traditionally structured banks.

“One thing to keep in mind [is] Facebook’s annual revenue per user is probably $50. That might be a little high,” Lee said. “But an average bank generates close to $1,000 per user. So, Facebook has a 20x upside to their customer model if they start doing banking services, and so I can see why banks aren’t really enthusiastic about this.”

Bitcoin was down nearly 3% toward the end of Tuesday’s trading session. The digital currency managed to retrace its 2018 highs in late May.

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Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: lizzy gurdus
Keywords: news, cnbc, companies, fundstrats, going, bitcoin, currency, think, really, facebook, highs, wrote, digital, crypto, lee, alltime, easily, facebooks, tom


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