Caterpillar had a blowout quarter, beating Street estimates by a huge margin.California appears close to a budget deal, and last week’s chain store sales were strong.Today is Fed Chairman Bernanke’s semi-annual...
Read MoreCIT announced a deal with bondholders, staving off bankruptcy.This buoyed equities, which were already leaning higher on good earnings reports, and a report that Goldman raised their year end target for the S&P to 1060 from...
Read MoreB of A had a poor earnings report. It showed declining credit quality and higher charge offs.GE’s report is out; I haven’t had time to read through it.CIT is negotiating with lenders to try to stave off...
Read MoreStocks were lower overnight on reports that CIT is unlikely to get federal aid, which makes it likely it will file for bankruptcy.If someone understands the logic of who gets federal handouts and who doesn’t, could you...
Read MoreToday the Canadian Dollar futures completed the move out of the falling wedge pattern I identified last week (see here).Let’s look at the chart to see how to look for this setup. The falling wedge pattern is the two...
Read MoreStocks are sharply higher; gaining confidence from Intel’s earnings report. Intel said that demand rose through last quarter, and that Asian demand is strong. Capital One said that credit card charge offs are still...
Read MoreStocks are higher over optimism about US bank earnings. Goldman’s earnings came out. They were higher than expected, but the stock is a bit lower at the moment.We also get retail sales and PPI, both at 7:30 Central. Sept....
Read MoreAs I pointed out Friday (go here), gold futures had a breakout setup today.In addition, it had formed a triangle on the daily chart. Looking at the chart, we can see how the breakout performed, and see what you could have done...
Read MoreI have been bearish on crude oil futures for the past two weeks, after it made a double top over $73.As I said earlier (read here and here) this year’s pattern appears similar to last year, when it peaked on July 11th then...
Read MoreStocks are higher ahead of a crush of earnings this week.Meredith Whitney, a noted bank analyst, made favorable short term comments on the financial sector.This has given stocks a boost.There’s not really much overnight...
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