GRaB

Past performance is not indicative of future results

one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose.

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.

Good Afternoon,

Did anyone see weekly claims today? I knew it! Well, actually, good for you because they don't matter. Actually they do matter. The worse they get the better the equity markets get. Today's claims came in above expectations - a whopping 382k. This is bad, bad, bad. If this keeps up, I am expecting a negative monthly jobs number in the near future. 

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.

Today was a day you could buy the dips in the USD. Here is a great example of the GBP/USD satisfying a double bottom and at the same time, lining up with the first fibonacci retracement:

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.

Support is holding in the SPY. Before we get to the technicals, a quick review of the fundamentals.  Retail sales were flat and PPI (of non-importance due to Federal Reserve policy) was flat. Tomorrow, we get initial claims. I am expecting it to be flat as well. If the previous relationship holds, then flat economic data is positive for the equity market.

Technically, we still have some room to go to the upside, but I am not convinced that flat economic data is good enough to get us there.

Posted By: 

Brian Kahn

Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.