Well the week after Labor Day has lived up to its reputation. The Dow crashed on time, but the burning question is – will it follow-through? The Dow peaked on the 6th following Monday’s closing. It elected the first Daily Bearish Reversal on the 7th when it closed by 18533. Obviously, we did elect the […]

Asia was a mixed with a strong Hang Seng (+0.75%) an unchanged Nikkei and a slightly weaker Shanghai (-0.55%), which after yesterdays ECB Q+A session was actually very promising performance. However, it was not to last and as soon as Europe opened then the selling began. It started in the fixed-income markets but by afternoon […]

Secondary economic data in Japan coupled with slight dovish comments BOJ comments and the Nikkei started to drift lower. At worse the index was down around 1% but a lack of follow through volume saw a reasonable bounce into the close. Eventually, the Nikkei closed down 0.3% which, around mid afternoon looked very unlikely. The […]

Private Blog & Gold Update on Coiling

After Fridays Payrolls release we saw Asian futures reflect a solid performance which was carried into the cash indices this morning. The Nikkei lost a little of the futures euphoria but still closed up 0.7% and the highest close in over 3 months, the JPY gained 0.55% rejecting the 104 handle and closing closer to 103 instead. […]

The Nikkei and Hang Seng closed virtually unchanged in anticipation of the US lunchtime numbers. The Hang Seng was the best performing Asian index closing up 0.45%. It was always going to be about the US Payrolls even as Europe opened marginally better bid. Overnight we had seen the USD take a bit of a […]

The Nikkei saw another impressive day today with the index closing up +0.97%  but at the same time the Yen continues to lose ground. In late US trading we have broken again the 103.50 level with the lose this week close to 3%, there are many rumors around BOJ intervention in the FX but all […]

The roads in Illinois are in decay. This may be the first state to go bankrupt. The question is not if, but when. State unions are so greedy that they are destroying the very state. This is exactly how Rome fell — government employees against the people. Seven states have constitutional provisions that state employee […]

The Nikkei was not the main topic of conversation today in Asia as the Shanghai and Hang Seng both outperformed the Tokyo exchange. The HSI closing up 0.85% and was the best performer, until after Asian cash markets closed. Throughout the European and US time zone the JPY has weakened through the 103 handle and […]

We knew what to expect from the Nikkei cash this morning after we heard remarks late Friday and Saturday from all at Jackson Hole. On Saturday it was BOJ Governor Haruhiko Kuroda who said he would approve further monetary stimulus without hesitation! Having seen the Nikkei futures up 1% and the JPY weaken by 1% this […]