Chart analysts like chances for a big rally after S&P 500 forms ‘inverse head-and-shoulders’

Stocks are on a roll this year and a chart pattern in the S&P 500 could signal further gains for Wall Street. The S&P 500 formed an “inverse head-and-shoulders” pattern over the past three weeks as it broke above key levels and inched closer to its record high from Sept. 21. The S&P 500 then surged from that level and has closed above 2,800 for five straight sessions. It’s acted as a resistance level at times and support as well.” He also said this pattern is pattern “is not just specific to the


Stocks are on a roll this year and a chart pattern in the S&P 500 could signal further gains for Wall Street. The S&P 500 formed an “inverse head-and-shoulders” pattern over the past three weeks as it broke above key levels and inched closer to its record high from Sept. 21. The S&P 500 then surged from that level and has closed above 2,800 for five straight sessions. It’s acted as a resistance level at times and support as well.” He also said this pattern is pattern “is not just specific to the
Chart analysts like chances for a big rally after S&P 500 forms ‘inverse head-and-shoulders’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-20  Authors: fred imbert, brendan mcdermid
Keywords: news, cnbc, companies, 500, 2800, level, headandshoulders, pattern, index, surged, forms, inverse, sp, chances, analysts, chart, rally, resistance, past, sectors, big


Chart analysts like chances for a big rally after S&P 500 forms 'inverse head-and-shoulders'

Stocks are on a roll this year and a chart pattern in the S&P 500 could signal further gains for Wall Street.

The S&P 500 formed an “inverse head-and-shoulders” pattern over the past three weeks as it broke above key levels and inched closer to its record high from Sept. 21. An inverse head and shoulders pattern is used by chart analysts as a sign that a stock or an index could rise further after forming a bottom.

The index tried to break above 2,800 — a closely watched resistance level by traders and technicians — twice between late February and early March before sliding back down to around 2,730 by March 8. The S&P 500 then surged from that level and has closed above 2,800 for five straight sessions.

“This has been building since the comeback started,” said Frank Cappelleri, executive director at Instinet. “We didn’t know how fierce it was going to be and the extent of it. But needless to say 2,800 is on a lot of screens for numerous reasons. It’s acted as a resistance level at times and support as well.”

Cappelleri added the recent formation is part of a bigger head-and-shoulders pattern that has been forming since last October.

He also said this pattern is pattern “is not just specific to the S&P 500. It’s seen in a lot of different places. Some areas are leading; some are lagging, but in general the shape that has developed over the past six months.”

The S&P 500 is down more than 2.5 percent over the past six months, but it is up more than 20 percent since bottoming in late December. The index closed at 2,832.57 on Tuesday, about 3.7 percent away from its all-time high of 2,940.91.

Stocks are not completely out of the woods yet, however. The utilities and real estate sectors — which are often referred to as bond proxies for their low volatility compared to other parts of the market — are the best performers over the past six months.

“I don’t know if that type of leadership can continue if this risk-on mentality continues as it is,” Cappelleri said. However, “they haven’t had to advance as much from the lows since they didn’t get as beat up on the way down. What we want to see is if other sectors can take the baton.”

The S&P 500 is up more than 12 percent so far this year and is on pace for its biggest one-year gain since 2017, when it surged 19.4 percent.

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Company: cnbc, Activity: cnbc, Date: 2019-03-20  Authors: fred imbert, brendan mcdermid
Keywords: news, cnbc, companies, 500, 2800, level, headandshoulders, pattern, index, surged, forms, inverse, sp, chances, analysts, chart, rally, resistance, past, sectors, big


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Warren Buffett says there’s ‘enormous resistance to change’ healthcare

Complacency will make fixing the nation’s health-care system a daunting task, according to Warren Buffett, whose Berkshire Hathaway recently joined with J.P. Morgan Chase and Amazon to develop a new model for their 1 million employees. Buffett along with Amazon’s Jeff Bezos and J.P. Morgan’s Jamie Dimon recently formed the health-care joint venture Haven to figure out how to deliver better health care at a lower cost. One of the problems with the current system, Buffett said in an interview for


Complacency will make fixing the nation’s health-care system a daunting task, according to Warren Buffett, whose Berkshire Hathaway recently joined with J.P. Morgan Chase and Amazon to develop a new model for their 1 million employees. Buffett along with Amazon’s Jeff Bezos and J.P. Morgan’s Jamie Dimon recently formed the health-care joint venture Haven to figure out how to deliver better health care at a lower cost. One of the problems with the current system, Buffett said in an interview for
Warren Buffett says there’s ‘enormous resistance to change’ healthcare Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: liz moyer, david a grogan, cnbc, jaden urbi
Keywords: news, cnbc, companies, buffett, change, healthcare, resistance, system, current, recently, warren, jp, weve, model, theres, worse, enormous


Warren Buffett says there's 'enormous resistance to change' healthcare

Complacency will make fixing the nation’s health-care system a daunting task, according to Warren Buffett, whose Berkshire Hathaway recently joined with J.P. Morgan Chase and Amazon to develop a new model for their 1 million employees.

Buffett along with Amazon’s Jeff Bezos and J.P. Morgan’s Jamie Dimon recently formed the health-care joint venture Haven to figure out how to deliver better health care at a lower cost. One of the problems with the current system, Buffett said in an interview for Yahoo Finance, is that health-care providers and others entrenched in the current model don’t have any incentive to change things.

“We have a $3.4 trillion industry, which is as much as the federal government raises every year, that basically feels pretty good about the system,” Buffett said. “There’s enormous resistance to change while a similar acknowledgement that change will be needed. And of course if the private sector doesn’t supply that over a period of time, people will say ‘we give up, we’ve got to turn this over to the government,’ which will probably be even worse.”


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: liz moyer, david a grogan, cnbc, jaden urbi
Keywords: news, cnbc, companies, buffett, change, healthcare, resistance, system, current, recently, warren, jp, weve, model, theres, worse, enormous


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Now that the market has broken through key resistance, here’s what’s next

The S&P 500 closed up 2.9 percent for the week, its best so far this year. It’s now at the highest level since early October, after breaking through key resistance levels near 2815, where it failed several times. The S&P 500 tends to be lower in the week after quadruple witching. First-quarter earnings are now expected to be down 1.5 percent for the S&P 500, according to Refinitiv. The two key names next week are Micron and Federal Express, which are both scheduled to report earnings.


The S&P 500 closed up 2.9 percent for the week, its best so far this year. It’s now at the highest level since early October, after breaking through key resistance levels near 2815, where it failed several times. The S&P 500 tends to be lower in the week after quadruple witching. First-quarter earnings are now expected to be down 1.5 percent for the S&P 500, according to Refinitiv. The two key names next week are Micron and Federal Express, which are both scheduled to report earnings.
Now that the market has broken through key resistance, here’s what’s next Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: bob pisani, brendan mcdermid
Keywords: news, cnbc, companies, heres, resistance, broken, 500, volatility, market, earnings, whats, stock, week, near, sp, rally, quarter, key


Now that the market has broken through key resistance, here's what's next

The S&P 500 closed up 2.9 percent for the week, its best so far this year. It’s now at the highest level since early October, after breaking through key resistance levels near 2815, where it failed several times.

The S&P is now less than 4 percent from the old historic closing high (2,930 on September 20).

Key observations:

1) Traders increasingly believe global central banks have their backs.

2) With the CBOE Volatility Index at 12, its lowest level since October, strategies driven by volatility would likely add to stock exposure.

3) Bond yields continue to drop, remaining near the lows of the year. The new-high list this week was littered with interest-rate sensitive stocks (utilities, REITs) that rally when rates remain low.

4) Quadruple witching (quarterly expiration of index options and futures, and stock options and futures) has added a lot of volume this week and likely contributed to the upside rally. But the question is whether the expiration exhaust near term demand. The S&P 500 tends to be lower in the week after quadruple witching.

5) Europe (and the U.K.) have outperformed the U.S. this month. There are some hopes for a bottom in the recent poor economic data.

6) Downward earnings revisions are slowing to a crawl. The rate of downward earnings revision for the first quarter was intense from January into mid-February, slowed in the next several weeks and has essentially stopped this week. First-quarter earnings are now expected to be down 1.5 percent for the S&P 500, according to Refinitiv. If it stays in that range, there is a good chance earnings will be positive for the first quarter (companies tend to beat analyst estimates), and we will avoid an earnings “recession,” at least one that began in the first quarter.

7) The key to a further rally: positive comments on global growth. The two key names next week are Micron and Federal Express, which are both scheduled to report earnings. Both had big drops last quarter and saw lower earnings estimates on concerns over China and (for Micron) increasing competition.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: bob pisani, brendan mcdermid
Keywords: news, cnbc, companies, heres, resistance, broken, 500, volatility, market, earnings, whats, stock, week, near, sp, rally, quarter, key


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Here’s the key level Amazon needs to break to retake $2,000

Amazon’s stock is up against a key resistance level as it tries to rally back to record highs, and one technical analyst says the odds are in favor of Amazon breaking that barrier. Ari Wald, head of technical analysis for Oppenheimer, said Monday on CNBC’s “Trading Nation” that Amazon is on track to break above a $1,770 level of resistance. It closed on Monday at $1,696.17, up 1.46 percent, after Evercore ISI raised its price target. That, combined with Amazon’s stock pushing above its 100-day m


Amazon’s stock is up against a key resistance level as it tries to rally back to record highs, and one technical analyst says the odds are in favor of Amazon breaking that barrier. Ari Wald, head of technical analysis for Oppenheimer, said Monday on CNBC’s “Trading Nation” that Amazon is on track to break above a $1,770 level of resistance. It closed on Monday at $1,696.17, up 1.46 percent, after Evercore ISI raised its price target. That, combined with Amazon’s stock pushing above its 100-day m
Here’s the key level Amazon needs to break to retake $2,000 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: lizzy gurdus, luke sharrett, bloomberg, getty images, brendan mcdermid, adam jeffery, alex wong, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, wald, key, technical, resistance, needs, trading, think, amazon, retake, stock, level, heres, break, 2000, amazons, stocks


Here's the key level Amazon needs to break to retake $2,000

Amazon’s stock is up against a key resistance level as it tries to rally back to record highs, and one technical analyst says the odds are in favor of Amazon breaking that barrier.

Ari Wald, head of technical analysis for Oppenheimer, said Monday on CNBC’s “Trading Nation” that Amazon is on track to break above a $1,770 level of resistance. It closed on Monday at $1,696.17, up 1.46 percent, after Evercore ISI raised its price target.

That, combined with Amazon’s stock pushing above its 100-day moving average, should create the necessary momentum to send shares soaring, possibly even back to the monumental $2,000 level they first grazed in August, Wald said. Technicians often use stocks’ long-term moving averages as indicators for where prices are headed.

“We’re bullish on Amazon,” he said. “Over about the last five months, it’s underperformed. We’re seeing that weakness start to abate, so I think the road to recovery is higher. … I think, as long as you’re above [the] $1,600 support [level] — those were the recent lows — I think it’s more likely that this breaks to the upside, above $1,770 resistance, and we see a resumption of the stock’s long-term uptrend.”

Chantico Global CEO Gina Sanchez said that while broad-based pressure on cloud stocks was partly to blame for Amazon’s recent underperformance, the cloud could also be the stock’s saving grace.

“I do actually think that that’s really what’s going to continue to push Amazon up, … the AWS side of their business,” she said, referring to the e-commerce giant’s lucrative Amazon Web Services arm.

“But the rest of the business is continuing to, quite frankly, pose a huge challenge to bricks-and-mortar buying, and I think that that continues as well,” Sanchez said on “Trading Nation.” “So we actually do see some support for Amazon here.”

Amazon shares are up 30 percent from the December low and 13 percent this year. On Monday, Evercore ISI analyst Anthony DiClemente placed a $1,965 price target on the stock, up from $1,800, arguing that it looked cheap at its current levels based on what he saw as a more accurate metric for the company: gross profit growth.

Disclosure: Oppenheimer & Co. Inc. makes a market in the securities of AMZN.


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: lizzy gurdus, luke sharrett, bloomberg, getty images, brendan mcdermid, adam jeffery, alex wong, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, wald, key, technical, resistance, needs, trading, think, amazon, retake, stock, level, heres, break, 2000, amazons, stocks


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Don’t believe the bounce, stocks are heading back to December lows, strategist says

One market watcher says don’t believe the recovery — stocks are heading back to their December lows. We have risk/reward here, I believe, that’s fantastic on the short side,” he said Friday on CNBC’s “Trading Nation.” But some are more optimistic and believe there’s solid support for the S&P to move higher at least in the short-term. So a break below that level … that’s going to be something more to unfold,” he said. The 2,615 level is about 3 percent lower than where the S&P 500 closed on Frida


One market watcher says don’t believe the recovery — stocks are heading back to their December lows. We have risk/reward here, I believe, that’s fantastic on the short side,” he said Friday on CNBC’s “Trading Nation.” But some are more optimistic and believe there’s solid support for the S&P to move higher at least in the short-term. So a break below that level … that’s going to be something more to unfold,” he said. The 2,615 level is about 3 percent lower than where the S&P 500 closed on Frida
Don’t believe the bounce, stocks are heading back to December lows, strategist says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: pippa stevens, carlo allegri, bryan r smith, afp, getty images, george frey, bloomberg, adam jeffery, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, believe, lows, strategist, thats, bounce, dont, stocks, sp, 2615, support, resistance, level, short, heading, theres


Don't believe the bounce, stocks are heading back to December lows, strategist says

Stocks started the year on a strong note, and it seemed like December and its steep sell-off was firmly in the rear-view mirror.

But that notion was put to the test on Friday. The Dow posted its third straight negative session — its longest losing streak of the year — although the index did post its seventh consecutive week of gains. The S&P managed to eke out a small gain of 0.07 percent on Friday after spending much of the day in the red, and after falling the prior two days. Fears about U.S.-China trade negotiations as well as slowing economic growth continued to weigh on markets throughout the week.

One market watcher says don’t believe the recovery — stocks are heading back to their December lows.

Joule Financial’s Quint Tatro sees 2,800 as a key level of overhead resistance for the S&P 500, and until the index can once again reach that level, he believes there will be more losses.

“The opportunity has been to sell into this rally, or if you’re aggressive, short. We have risk/reward here, I believe, that’s fantastic on the short side,” he said Friday on CNBC’s “Trading Nation.”

He said several stocks, including Alphabet, Amazon, and JPMorgan, are “reversing at key levels,” which leads him to believe that the recent recovery in stocks was a bounce “within a bigger bear trend, and not a new bull market.”

But some are more optimistic and believe there’s solid support for the S&P to move higher at least in the short-term. Piper Jaffray’s Craig Johnson says investors should use dips as a buying opportunity since stocks aren’t headed toward a major pullback.

“[A]s I look at the charts, we came right up to the 200-day moving average. We paused at that level. Now as we correct back the level, we need to be watching is 2,615,” he said Friday. “There’s a lot of support that comes into play there from the October/November lows, and also at the 50-day moving average and also the downward resistance line which will now be support. So a break below that level … that’s going to be something more to unfold,” he said.

The 2,615 level is about 3 percent lower than where the S&P 500 closed on Friday. It was at 2,716 in Monday’s premarket.

While Johnson believes it’s safe to “buy the dip as long as we stay above” 2,615, he is expecting a “market that will be largely range bound for the year.”


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: pippa stevens, carlo allegri, bryan r smith, afp, getty images, george frey, bloomberg, adam jeffery, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, believe, lows, strategist, thats, bounce, dont, stocks, sp, 2615, support, resistance, level, short, heading, theres


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Cramer: Charts reveal ‘serious’ hurdles facing chipmakers’ stocks

But for that to happen, there are “major hurdles” the SMH needs to top before the semiconductor stocks can continue their rally, Cramer said. “Perhaps the biggest hurdle has to do with the Fibonacci timing cycles,” Cramer said. “In December, when we were getting crushed, a cluster of timing cycles was good news. But now that the SMH has been rallying, a bunch of these Fibonacci timing cycles could mean that this semiconductor index is about to pull back. And Boroden points out that we do have a


But for that to happen, there are “major hurdles” the SMH needs to top before the semiconductor stocks can continue their rally, Cramer said. “Perhaps the biggest hurdle has to do with the Fibonacci timing cycles,” Cramer said. “In December, when we were getting crushed, a cluster of timing cycles was good news. But now that the SMH has been rallying, a bunch of these Fibonacci timing cycles could mean that this semiconductor index is about to pull back. And Boroden points out that we do have a
Cramer: Charts reveal ‘serious’ hurdles facing chipmakers’ stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, hurdles, chipmakers, fibonacci, timing, cramer, facing, serious, smh, boroden, week, rally, index, cycles, resistance, stocks, reveal, charts


Cramer: Charts reveal 'serious' hurdles facing chipmakers' stocks

One of the market’s top semiconductor-based exchange-traded funds is signaling some obstacles ahead for the chipmakers’ stocks, CNBC’s Jim Cramer said Tuesday after consulting with one of his favorite chartists.

The chartist, Carolyn Boroden — the brain behind FibonacciQueen.com and one of Cramer’s RealMoney.com colleagues — has a unique methodology. She uses Fibonacci ratios, a number series discovered by medieval mathematician Leonardo Fibonacci that repeats throughout nature, to spot patterns in the stock market.

Specifically, she measures past swings in a stock or an index, then runs them through a Fibonacci prism. When she does this with a chart’s Y-axis, price, it shows her potential levels of support or resistance. When she uses the X-axis, time, it flags particular times when a stock is most likely to change course.

So, with investors fretting about weakness at longtime industry stalwart Nvidia, Cramer and Boroden found it worth circling back to the chipmaking group via the VanEck Vectors Semiconductor ETF, also known as the SMH.

And, based on Boroden’s analysis, “the SMH needs to run a series of gauntlets if it’s going to keep climbing here,” Cramer said on “Mad Money.” “First, the semis need to get through this week without experiencing a serious reversal. […] Then, the SMH needs to rally $3 to $7 bucks to clear its two ceilings of resistance. If it can do that, then Boroden believes the semis will be able to keep climbing. [But] that’s a mighty big if.”

Here’s how they reached that conclusion:

First, Cramer called attention to one of Boroden’s recent successful predictions: when the SMH bottomed in late December around $80, it touched a floor of support “created by a cluster of Fibonacci price relationships” between $79 and $81, as well as a confluence of timing cycles that suggested the index was due for a bounce, he explained.

Now, Boroden sees potential for more upside. Her methodology suggested that the roughly $94 fund could vault to $123 and change or even $135, which would constitute a 31 to 44 percent move. But for that to happen, there are “major hurdles” the SMH needs to top before the semiconductor stocks can continue their rally, Cramer said.

The first two hurdles have to do with symmetry, the idea that stocks or indices tend to rally the same dollar amount during sustained moves. Boroden noted that the when the SMH last saw a sustained rally in May, it climbed $16.53. Now, it has already bounced more than $16 from its December lows, which could mean that the rally might soon peter out at the SMH’s $97 ceiling of resistance.

But even if it trades above $97, the index has another ceiling of resistance at $101. Boroden said the SMH could hit that level if it retraces its rally from February of $20.67. But even with that, it won’t be smooth sailing yet, she told Cramer.

“Perhaps the biggest hurdle has to do with the Fibonacci timing cycles,” Cramer said. “In December, when we were getting crushed, a cluster of timing cycles was good news. But now that the SMH has been rallying, a bunch of these Fibonacci timing cycles could mean that this semiconductor index is about to pull back. And Boroden points out that we do have a bunch of these timing cycles com[ing] due … between today and Friday.”

All in all, Boroden sees the SMH approaching “some serious resistance this week” as the tidal wave of earnings reports continues to sweep across Wall Street, Cramer said.

“If the semis can make it to the end of this week without rolling over, she says that would be a good sign and the upside could be significant, but there’s also a decent chance the group will get slammed and retest its December low,” the “Mad Money” host concluded. “At least you know what the technical levels are to look for.”


Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, hurdles, chipmakers, fibonacci, timing, cramer, facing, serious, smh, boroden, week, rally, index, cycles, resistance, stocks, reveal, charts


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Three reasons the market has moved ‘too far, too fast,’ according to one technical analyst

Trader says the market has gone ‘too far, too fast’ 16 Hours Ago | 05:54With the S&P 500 back in correction territory on Tuesday, one trader says this could be a sign of trouble to come for the market. First, Gordon points out a “shelf” that has formed in the S&P 500 with support at around the 2,650 level, which the index has tested a few times. Gordon says this support level has now become resistance for the S&P. He notes that the S&P 500 is trading 4 percent below its 200-day moving average, p


Trader says the market has gone ‘too far, too fast’ 16 Hours Ago | 05:54With the S&P 500 back in correction territory on Tuesday, one trader says this could be a sign of trouble to come for the market. First, Gordon points out a “shelf” that has formed in the S&P 500 with support at around the 2,650 level, which the index has tested a few times. Gordon says this support level has now become resistance for the S&P. He notes that the S&P 500 is trading 4 percent below its 200-day moving average, p
Three reasons the market has moved ‘too far, too fast,’ according to one technical analyst Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: annie pei, billy hc kwok, bloomberg, getty images, gari garaialde, spencer platt, getty images news, akio kon, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, according, analyst, gordon, level, support, result, moved, reasons, spy, fast, 500, resistance, trader, sp, far, market, technical


Three reasons the market has moved 'too far, too fast,' according to one technical analyst

Trader says the market has gone ‘too far, too fast’ 16 Hours Ago | 05:54

With the S&P 500 back in correction territory on Tuesday, one trader says this could be a sign of trouble to come for the market.

Todd Gordon of TradingAnalysis.com said that while stocks have seen a “nice bounce” off the December lows — the S&P is up 12 percent since the Christmas Eve bottom — “the move has come too far, too fast.”

First, Gordon points out a “shelf” that has formed in the S&P 500 with support at around the 2,650 level, which the index has tested a few times. Gordon says this support level has now become resistance for the S&P.

Second is the index’s long-term moving average. He notes that the S&P 500 is trading 4 percent below its 200-day moving average, proving that the trend is in fact broken.

Finally, Gordon points out that the 2,650 level is the new resistance, as the S&P has actually retraced half its losses, which he thinks could result in some profit-taking or short money entering the market.

As a result, Gordon wants to buy the March monthly 255-strike put and sell the March monthly 250-strike put in SPY, the S&P 500-tracking ETF, for the cost of $96 per options spread. If SPY were to close below $250 on March 15 expiration, Gordon could make just over $400 on the trade. If SPY were to close above $255, then Gordon would lose the $96 he paid to make the trade.

So far this year, the S&P 500 is up almost 5 percent.


Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: annie pei, billy hc kwok, bloomberg, getty images, gari garaialde, spencer platt, getty images news, akio kon, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, according, analyst, gordon, level, support, result, moved, reasons, spy, fast, 500, resistance, trader, sp, far, market, technical


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Gold prices rise as Fed rate tone weakens dollar

Spot gold rose 0.4 percent to $1,290.84 per ounce as at 0310 GMT, heading for a fourth straight weekly gain. U.S. gold futures were up 0.3 percent at $1,290.8 per ounce. “The weaker dollar and a more dovish Fed are the two most alluring factors for gold,” said Stephen Innes, APAC trading head at OANDA. “The (gold) market is holding back a little as they are concerned the equity market could rally significantly on trade war truce,” Innes said. Palladium 0.4 percent to $1,326.75 per ounce, and was


Spot gold rose 0.4 percent to $1,290.84 per ounce as at 0310 GMT, heading for a fourth straight weekly gain. U.S. gold futures were up 0.3 percent at $1,290.8 per ounce. “The weaker dollar and a more dovish Fed are the two most alluring factors for gold,” said Stephen Innes, APAC trading head at OANDA. “The (gold) market is holding back a little as they are concerned the equity market could rally significantly on trade war truce,” Innes said. Palladium 0.4 percent to $1,326.75 per ounce, and was
Gold prices rise as Fed rate tone weakens dollar Cached Page below :
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Gold prices rise as Fed rate tone weakens dollar

Gold prices climbed on Friday as the dollar fell back on expectations the U.S. central bank may pause interest rates hikes if the U.S. economy slows this year, while investors awaited news on progress in the Sino-U.S. trade talks.

Spot gold rose 0.4 percent to $1,290.84 per ounce as at 0310 GMT, heading for a fourth straight weekly gain. The yellow metal is up 0.4 percent so far this week.

U.S. gold futures were up 0.3 percent at $1,290.8 per ounce.

“The weaker dollar and a more dovish Fed are the two most alluring factors for gold,” said Stephen Innes, APAC trading head at OANDA.

“There are concerns for the U.S. economy to slow down, perhaps towards the end of 2019 and into 2020, so the markets are pricing rate cuts.”

The dollar slipped against other major currencies, after having rebounded from three-month lows on Thursday following Federal Reserve Chairman Jerome Powell’s comment which suggested the central bank is not done tightening monetary policy just yet.

A partial U.S. government shutdown extended into its 20th day and provided little comfort to the U.S. currency, after President Donald Trump threatened on Thursday to use emergency powers to bypass U.S. Congress to pay for a wall on the U.S.-Mexico border.

“The (gold) market is holding back a little as they are concerned the equity market could rally significantly on trade war truce,” Innes said.

Asian equities inched up to one-month highs, but the rally’s momentum slowed partly as investors sought more clarity on whether the United States and China could make headways on their talks on trade as well as intellectual property rights.

“Dilemma over the U.S.-Sino trade dispute is still raising eyebrows and needs clarity,” said Sugandha Sachdeva, vice-president – metals, energy and currency research, Religare Broking Ltd.

“Once trade issues are resolved, the dollar is likely to remain suppressed, losing its appeal as a safe haven…Gold on the other hand would stand to benefit.”

Also aiding gold’s upward trend are concerns of weakening global growth, further emphasized by somber data out of Switzerland and France on Thursday.

“Gold will likely approach the short term resistance of $1,310 per ounce, from where some profit-booking can be seen,” said Religare Broking’s Sachdeva, adding that near term support can be seen at $1,275 per ounce.

Spot gold is expected to retest a resistance at $1,299 per ounce, with a good chance of breaking above this level and rising further to $1,311, according to Reuters technical analyst Wang Tao.

Palladium 0.4 percent to $1,326.75 per ounce, and was up about 2 percent for the week.

Silver climbed 0.6 percent to $15.65. However, it was poised to snap three sessions of weekly gains.

Platinum was up 0.2 percent at $821.60 per ounce.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: getty images
Keywords: news, cnbc, companies, gold, weekly, 04, trade, weakens, ounce, resistance, prices, tone, rate, rise, term, sachdeva, fed, dollar, seen


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The man who called GE to $6.66 now sees this ahead

Nearly a decade after hitting its financial crisis low of $6.66, GE touched the ominous level last week — and it’s been roaring back ever since. He placed that target on GE stock more than a month earlier in his Nov. 9 appearance on CNBC’s “Trading Nation.” Now that his call has come to fruition, he sees support for the stock if it can clear several technical hurdles. “We were able to hold that 2009 low and that should … limit the downside at least over the near term. GE stock surged 6 percent i


Nearly a decade after hitting its financial crisis low of $6.66, GE touched the ominous level last week — and it’s been roaring back ever since. He placed that target on GE stock more than a month earlier in his Nov. 9 appearance on CNBC’s “Trading Nation.” Now that his call has come to fruition, he sees support for the stock if it can clear several technical hurdles. “We were able to hold that 2009 low and that should … limit the downside at least over the near term. GE stock surged 6 percent i
The man who called GE to $6.66 now sees this ahead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-18  Authors: keris lahiff, brendan mcdermid, heidi gutman, david paul morris, bloomberg, getty images, michael nagle, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, 666, support, negative, worst, stock, ahead, called, man, trading, restructure, ge, say, resistance, sees, sanchez


The man who called GE to $6.66 now sees this ahead

They say you have to dance with the devil to get out of hell, and that might be what just happened with General Electric.

Nearly a decade after hitting its financial crisis low of $6.66, GE touched the ominous level last week — and it’s been roaring back ever since.

Matt Maley, equity strategist at Miller Tabak, got it right. He placed that target on GE stock more than a month earlier in his Nov. 9 appearance on CNBC’s “Trading Nation.”

Now that his call has come to fruition, he sees support for the stock if it can clear several technical hurdles.

“We were able to hold that 2009 low and that should … limit the downside at least over the near term. However, we’re going to have to see a lot more work and a lot more action in this stock before we can say the worst is behind it for sure,” Maley said Tuesday on “Trading Nation.”

GE stock surged 6 percent in Wednesday’s premarket to $7.72 a share.

Its share price had more than halved since it began the year as of Tuesday’s closing. In just the past three months, it tanked 43 percent. Its swift decline has pushed shares below support levels that could now generate resistance, says Maley.

“The stock fell so far, so fast that any resistance level, for instance, its 50-day moving average and its trend line for 2018, they are much higher than where the stock is now, 25 to 35 percent higher,” he said. “When you want a stock to really confirm that the worst is behind it, you want to see it break a few resistance levels.”

Maley says he’d need to see the stock form a base in the $7 to $8 range to give him a sign that its slump has come to an end. GE is still a 10 percent rally from the upper-end of that range.

Gina Sanchez, CEO of Chantico Global, says the company could rebound but its turnaround efforts will take time.

“We’ve seen a pretty big Hail Mary in terms of their determination to restructure the firm and to restructure the outlook for where they’re going to put their focus but that’s something that takes years to build out,” Sanchez said on “Trading Nation” on Tuesday.

GE is in the middle of a years-long restructuring effort that has included shedding some of its peripheral assets such as finance to whittle itself down to its core industrial operations. However, some of its units, such as its power business, continue to weigh on the company.

“For the time being, it has to survive the negative headlines, and a liquidity crunch is not the kind of negative headline that you want to have, an SEC probe is not the kind of negative headline you want to have, so we’re not out of the woods,” added Sanchez. General Electric said in October the Securities and Exchange Commission was widening its probe of the company’s accounting practices.


Company: cnbc, Activity: cnbc, Date: 2018-12-18  Authors: keris lahiff, brendan mcdermid, heidi gutman, david paul morris, bloomberg, getty images, michael nagle, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, 666, support, negative, worst, stock, ahead, called, man, trading, restructure, ge, say, resistance, sees, sanchez


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Superbugs pose a dangerous, $65 billion threat to the US health-care system

Antimicrobial resistance is a large and growing problem, with the potential for enormous health and economic consequences for the United States and the rest of the world. On average, about 29,500 persons die each year in the United States from infections related to eight resistant bacteria. By 2050 it is estimated that antimicrobial resistance will kill about 1 million people in the United States. The economic toll of this superbug crisis is huge: In the United States alone the health-care costs


Antimicrobial resistance is a large and growing problem, with the potential for enormous health and economic consequences for the United States and the rest of the world. On average, about 29,500 persons die each year in the United States from infections related to eight resistant bacteria. By 2050 it is estimated that antimicrobial resistance will kill about 1 million people in the United States. The economic toll of this superbug crisis is huge: In the United States alone the health-care costs
Superbugs pose a dangerous, $65 billion threat to the US health-care system Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: nasos koukakis, special to cnbccom, dtkutoo, istock, getty images, -michele cecchini, senior health economist, policy analyst
Keywords: news, cnbc, companies, superbugs, pose, antimicrobial, life, dangerous, resistant, 2050, states, billion, resistance, oecd, bacteria, infections, 65, threat, united, healthcare, system


Superbugs pose a dangerous, $65 billion threat to the US health-care system

Antimicrobial resistance is a large and growing problem, with the potential for enormous health and economic consequences for the United States and the rest of the world. According to a new OECD report, released Wednesday, superbug infections could cost the lives of about 2.4 million people in North America, Europe and Australia over the next 30 years unless more is done to stem antibiotic resistance.

On average, about 29,500 persons die each year in the United States from infections related to eight resistant bacteria. By 2050 it is estimated that antimicrobial resistance will kill about 1 million people in the United States.

The economic toll of this superbug crisis is huge: In the United States alone the health-care costs dealing with antimicrobial resistance could reach $65 billion by 2050, according to the OECD report. That is more than the flu, HIV and tuberculosis. If projections are correct, resistance to backup antibiotics will be 70 percent higher in 2030 compared to 2005 in OECD countries. In the same period, resistance to third-line treatments will double across EU countries.

The bottom line: Between 2015 and 2050, antimicrobial resistance would cost about $3.5 billion per year to the health-care services of the 33 countries included in the analysis. The impact on quality of life, measured through disability-adjusted life years, will be even larger, with up to 1 out of every 232 individuals losing one year of life in good health because of antimicrobial resistance in the OECD countries.

Earlier this year, the U.S. Centers for Disease Control and Prevention warned it had detected 221 strains of a rare breed of “nightmare bacteria.” This bacteria is virtually untreatable by antibiotics and have special genes that enable them to spread their resistance to other germs. Nightmare bacteria is particularly deadly in the elderly and people with chronic illnesses. The probability of developing a resistant infection is also significantly higher for children up to 12 months of age, and men are also more likely to develop resistant infections than women. Nearly half of the resulting infections prove fatal.


Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: nasos koukakis, special to cnbccom, dtkutoo, istock, getty images, -michele cecchini, senior health economist, policy analyst
Keywords: news, cnbc, companies, superbugs, pose, antimicrobial, life, dangerous, resistant, 2050, states, billion, resistance, oecd, bacteria, infections, 65, threat, united, healthcare, system


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