Photo by  on   Market RecapFour of the Mag 7 names showed up in the top 10 detractors from performance for the S&P 500, contributing to -121% of that index’s result. Despite this, broad equity indexes ended yesterday ahead, with the Russell 2000 adding 1.41%, the Dow gaining 0.71%, the SP 500 rising 0.39% and the Nasdaq Composite closing 0.19% higher. Looking at the S&P 500 index, the list of top 10 contributors to return, while led by Nvidia () had a good mix of sector names represented, including Amgen (), Costco (), Visa (), and JP Morgan Chase ().Sector-wise, Materials, Consumer Discretionary, and Communication Services posted the only negative results due to their respective Mag 7 components closing lower, at least for the last two mentioned. The remaining sector results ranged from 0.07% (Industrials) to 1.57% (Real Estate). Volatility retreated as the Cboe Market Volatility Index (VIX) settled down 8.37% to 15.77 while gold was nudged higher to $2,865/oz. Oil priced just over 2% lower as markets reacted to Tuesday’s  that US reserves were unexpectedly high.From a Tematica model perspective, the market’s reaction to Alphabet’s (, ) earnings helped guide AI lower but a number of other technology-oriented strategies posted healthy gains, including Digital Infrastructure, Cybersecurity, Data Privacy, Cloud Computing, CHIPs Act, and what passes for tech adjacent these days, Nuclear Energy & Uranium. Aside from technology-focused strategies, EPS Diplomats and Cash Strapped Consumer also participated in yesterday’s bounce.  Apple Sourcing Changes and Why Fed Speakers May Lean More HawkishFutures point to equities making further gains when the market opens later this morning. Sizing up those futures, however, we find those […]

BA Elliott Wave Analysis Trading LoungeThe Boeing Company, () Daily ChartBA Elliott Wave Technical AnalysisFUNCTION: Counter TrendMODE: CorrectiveSTRUCTURE: TrianglePOSITION: Wave (A) of EDIRECTION: Upside in wave C of (A).DETAILS: We are looking for upside into wave C of (A), which could also turn out to be wave (C) of E instead, hence one degree higher. Looking for upside potentially towards Trading Level 2 t 200$ as upside target.The Boeing Company, (BA) 1H ChartBA Elliott Wave Technical AnalysisFUNCTION: Counter TrendMODE: CorrectiveSTRUCTURE: TrianglePOSITION: Wave B of (A).DIRECTION: Upside in wave C.DETAILS: Looking for upside into wave C as we seem to have completed the triangle in wave B. Increasing volume on the bottom of B seems to be suggesting the low is in place. Looking for 200$ as minimum upside target.This Elliott Wave analysis of The Boeing Company, (BA) outlines both the daily and 1-hour chart structures, highlighting the current trends and possible future price movements.* BA Elliott Wave Technical Analysis – Daily Chart*The Boeing Company (BA) appears to be in a corrective triangle pattern, currently unfolding in wave (A) of E. We expect upside momentum into wave C of (A), with a potential alternative scenario suggesting that this could be wave (C) of E, one degree higher. The key upside target lies near the TradingLevel2 at $200. Traders should watch for further strength as the stock approaches this target, as it could signal either the completion of wave (A) or indicate a more extended upward correction.* BA Elliott Wave Technical Analysis – 1H Chart*On the 1-hour chart, BA seems to have completed a triangle […]

 Photo by  on     GBP/JPY falls swiftly to near 188.40 as two BoE MOC members favored large interest rate cuts. The BoE sees a temporary uptick in inflation before returning to the 2% path due to higher energy prices. BoJ Tamura sees interest rates to rise to at least 1% by the second half of the fiscal year beginning in April. The GBP/JPY pair faces an intense sell-off and dives vertically to near 188.40 in Thursday’s North American session, the lowest level seen in two months. The cross plummets after the Bank of England’s (BoE) monetary policy meeting in which the central bank reduced its key borrowing  by 25 basis points (bps) to 4.5%.  British Pound PRICE TodayThe table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the New Zealand Dollar.   USD EUR GBP JPY CAD AUD NZD CHF USD   0.45% 1.05% -0.14% 0.25% 0.42% 0.59% 0.51% EUR -0.45%   0.61% -0.60% -0.19% -0.02% 0.15% 0.04% GBP -1.05% -0.61%   -1.21% -0.80% -0.63% -0.46% -0.55% JPY 0.14% 0.60% 1.21%   0.38% 0.57% 0.71% 0.65% CAD -0.25% 0.19% 0.80% -0.38%   0.18% 0.34% 0.26% AUD -0.42% 0.02% 0.63% -0.57% -0.18%   0.17% 0.06% NZD -0.59% -0.15% 0.46% -0.71% -0.34% -0.17%   -0.08% CHF -0.51% -0.04% 0.55% -0.65% -0.26% -0.06% 0.08%   The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from […]

Image Source:   The Bank of England’s latest decision, which saw two members vote for a more aggressive rate cut, has caught markets slightly off-guard. But the overall message is a gradual one and we’re sticking to our call of four rate cuts in total this year.There’s nothing unusual or unexpected about the Bank of England’s decision to cut rates by 25 basis points to 4.50% this month. As for the vote split, well that’s anything but.Expectations ahead of the meeting today were that eight committee members would vote for the cut and that we’d see Catherine Mann, until now the arch-hawk, vote to keep policy unchanged. After all, she didn’t vote in favour of either of the prior two rate cuts and had been voting for hikes long after the rest of the committee had decided rates had gone high enough.That is until now. Not only has Mann ended her fight against rate cuts, but she has doubled down with a vote to slash rates by 50bp. Though not directly attributed to Mann, the meeting minutes suggest that she saw a need to give a “clear signal” on where interest rates need to get to, whilst still recognising policy needs to stay restrictive for some time to come.That might sound counter-intuitive, but perhaps those voting for a larger cut, which also included long-standing dove Swati Dhingra, had half an eye on the UK mortgage market. In Britain, the vast majority of home lending is done on fixed interest rates, even […]

Image Source:   The latest projections for Gold & Silver based on our analogs. Note that gold must outperform the stock market for these various targets to be reached.Video Length: 00:11:58Gold & Silver Bull Analogs7 Must See Gold & Silver Charts Signaling Huge PotentialThese Two Things Always Lead To A Recession