Russian
Stocks Soar To Record Highs - Up 60% Since White House "Sell"
Order
Top Citi analyst Tom Fitzpatrick: “We had been biased that Crude would correct lower to at least and possibly extend as low as around $38. The low in this move was $39/19 and Crude has since bounced sharply. The weekly pattern now looks like an evening star formation (Bullish). This suggests that it can go back and test resistance in the $51 – $52 area (Resistance and potential inverted head and shoulders neckline).
Russia's MICEX
stock index rallied to all-time record highs today. This
is likely
very disconcerting for The White House as
since the March 2014 lows when they issued the following statement:
"If I were you, I wouldn't invest in Russian equities right
now," Russian
stocks are up 60% - tripling the 19% gains in the S&P off those
lows...
In March 2014...
And since then things
have not exactly panned out for The White House...
The big question is - Is
Carney now a buyer of US Stocks
Russian Leader Vladimir Putin’s Hand Is About To Get Much Stronger
With
continued uncertainty in global markets, a scenario is unfolding that
will make Russian leader Vladimir Putin’s hand much stronger. This
will also significantly impact the oil, gold and silver markets
as well as currency markets.
Is
Crude Oil Setting Up To Surge A Staggering 66 Percent?
Top Citi analyst Tom Fitzpatrick: “We had been biased that Crude would correct lower to at least and possibly extend as low as around $38. The low in this move was $39/19 and Crude has since bounced sharply. The weekly pattern now looks like an evening star formation (Bullish). This suggests that it can go back and test resistance in the $51 – $52 area (Resistance and potential inverted head and shoulders neckline).
A
break above here, if seen, would suggest extended gains towards at
least the $62.50 area as we move towards early 2017. On a longer term
basis the 55 – 200 week moving average setup and this inverted head
and shoulders would suggest that the gains could be into the low
$70’s (this would be a spectacular 66 percent surge) by 2018.
USDRUB
(U.S. Dollar / Russian Ruble) was above the 55 week moving average
for over 3 years until May/June this year and has so far held on a
retest.
Initial
support is met at 60.59 with long term horizontal supports and the
200 week moving average converging in the 47.45 – 47. 48.63 area
(this move would represent a massive 26.5 percent surge in the
strength of the Russian ruble vs the U.S. dollar).”
Japanese Stocks Tumble As USDJPY Plunges To Post-Brexit Lows
Following last night's
disappointing GDP data and amid an illiquid summer holiday in Japan,
USDJPY is extending its losses nearing 100.00 once again following
weaker than expected US macro data (and a weaker USD)...
Yen is the strongest in 6
weeks - with USDJPY getting close to post-Brexit lows...
Nikkei 225 is getting
slammed tick for tick...
Luckily, the US equity
market is in a world of its own... for now...
Maybe this week's minutes
will change that?
Mexico's New Auto Plants Unable To Find Enough Labor... As Detroit Still Suffers Massive Unemployment
Gerald Celente on the economy and the trends of the week
Investors, not interested in buying negative-yielding bonds (guaranteed losses if held to maturity) and fearful of speculating in equity markets, have pushed gold prices up over 25 percent this year while pushing gold coin sales for the second quarter up 72 percent year to date. Global master forecaster Gerald Celente tells you why.
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