January’s $10,000 Challenge Winner

FXCM and DailyFX are happy to announce our $10,000 Monthly Challenge winners for the first month of 2016 trading. Learn more about January’s contest here!
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It’s Stock Market Panic Time!

The Nikkei 225 Index is in the news this morning. It declines to 16085.44 in their overnight session. That’s right. It is down 918.86 points. This puts it just above its Head & Shoulders neckline. There’s a lot more to come should the neckline be broken.

The futures are down 1129.50, or 15871.50. ZeroHedge reports, “With China offline for the rest of the week, global markets have found a new Asian bogeyman in the face of Japan which as reported last night saw its markets crash, and the Yen soar, showing that less than 2 weeks after the BOJ unveiled NIRP, yet another central bank has lost control.”
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Meeting standards for research Colonial America | Coin World – Coin World

Coin World
Meeting standards for research Colonial America | Coin World
Coin World
Since the days of Joseph B. Felt and his 1839 book An Historical Account of Massachusetts Currency, Colonial numismatics has long been focused on historical research and academic understanding more than any other American numismatic specialty.

View full post on numismatics – Google News

Yen May Recoil from 15-Month High on Yellen Pre-Positioning

The Japanese Yen may reverse lower after hitting a 15-month high overnight as risk appetite recovers amid pre-positioning for testimony from Fed Chair Janet Yellen.

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WMD – Weapons of Mass Destruction

“WMD” also is “Wasteful Monetary Devastation.”

WASTEFUL:  We all know that governments spend money in wasteful ways and compensate with higher taxes, deficits, huge debt, “printed currencies” and inflation.  “Bridges to nowhere,” various wars, and “giveaways” benefit a few at the expense of many.

MONETARY:  Printing and digitally creating many trillions of dollars, euros, yen, or pounds may temporarily bail out banks and governments but in the big picture they destroy capital and weaken the economies of the nations which are deluding themselves.
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Inflation And Alan Greenspan

View full post on 24hGold.com RSS Feed – 24hGold Editorials and commentaries

Meeting or exceeding the standards: Colonial America – Coin World

Meeting or exceeding the standards: Colonial America
Coin World
Since the days of Joseph B. Felt and his 1839 book An Historical Account of Massachusetts Currency, Colonial numismatics has long been focused on historical research and academic understanding more than any other American numismatic specialty.

View full post on numismatics – Google News

NZD/USD Shorts Favored Sub-6759 – Range Break to Clear the Way

Kiwi is trading within well-defined range & we’ll be looking for the break to validate our scalp bias. Here are the updated targets & invalidation levels that matter.

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One Chart Depicts Economic Recovery 100% Fiction

Anything I’ve ever done that ultimately was worthwhile… initially scared me to death.
Betty Bender
They say a picture is worth a thousand words and this chart is probably worth a lot more.  It illustrates how the BLS has been lying through its teeth over the past seven years. Then again anyone with a grain of common sense could figure out that the retarded methodology the BLS employs is bound to create the illusion that all is well. They purposely discount individuals that have stopped looking for work in coming up with their unemployment numbers. Hence, the 5% figure is not an accurate reflection of the landscape. The chart below provides a more realistic view of the unemployed in the U.S and in some areas we believe that the numbers could be more than 30%
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Gold Prices Shine to 8 Month High

Gold prices increases to the highest level in 8 months on a weakening US Dollar. $1225/oz is the next level of resistance.

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Earnings Recap: A-Mark Precious Metals Inc – CWRU Observer

CWRU Observer
Earnings Recap: A-Mark Precious Metals Inc
CWRU Observer
A-Mark Precious Metals, Inc. operates as a precious metals trading company worldwide. The company offers gold, silver, platinum, and palladium in the form of bars, plates, powder, wafers, grains, ingots, and coins, as well as distributes gold and
A-Mark Precious Metals Inc (AMRK) Downgraded by B. Riley to "Neutral"Financial Market News
Zacks: Analysts Set $16.75 Target Price for A-Mark Precious Metals Inc (NASDAQ:AMRK)Intercooler Financial

all 4 news articles »

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FEAR TRADE: Metals Up, Stocks and Jobs Down

Clint Siegner writes: Precious metals have risen sharply in recent days as investors looked for alternatives to the stock market and U.S. dollar. Both gold and silver pushed through important technical resistance levels. Metals bulls hope to see markets enter a virtuous cycle; improving charts followed by more speculative long interest leading to improved charts.
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Fijian Money – Fiji Coins in Circulation

This is a photo showing the coins which are currently used as money in Fiji. This Fijian coinage is part of the monetary system used in Fiji. Page 43. View full post on About.com Coins: What’s Hot Now

Buy or Sell: EUR/USD Retests Point of Breakout

EUR/USD broke higher last week on expanding volume and shrinking SSI reading. See the higher probability bullish and bearish Elliott Wave pattern we are watching.

Talking Points

-Sentiment shifts towards more sellers (bullish signal)

-Volume expands on the breakout, though On Balance Volume is not above the December 2015 highs (mixed signal)

1.08 is the key level to the bullish Elliott Wave pattern

The break higher last week was significant for the technical pattern on EUR/USD. The break above 1.1087 now solidifies a 3 wave move from August 24, 2015 to December 3, 2015. For those familiar with Elliott Wave analysis, 3 wave moves are corrective moves and suggest a future retracement. Below, we will inspect more closely the favored bullish pattern and favored bearish pattern including levels to watch out for.

As we write, we are favoring the bullish pattern as Sentiment has shifted more deeply towards the bears. You can see on the chart below how the red area chart has shifted to lower levels (purple boxes) as the number of traders positioned on the short side has grown (orange circle). At the time of this writing, SSI is at -1.76. Sentiment is a contrarian signal that suggests the higher probability move is for more gains.

(See how traders are positioned with our live SSI feed.)

Buy or Sell: EUR/USD Retests Point of Breakout

Volume in EUR/USD is more mixed. The On Balance Volume indicator has only risen to levels that coincided with the early December 2015 high. This is coming at a time when price has clearly broken higher. Fortunately, the price break higher did occur on expanding volume. Ideally, we would like to see the OBV expand to new highs as price is making new monthly highs. If the bullish pattern is at play, we should see volume continue to expand on additional price moves higher.

EUR/USD Trading Volume Increasing, but Not Confirming Breakout Yet

Buy or Sell: EUR/USD Retests Point of Breakout

Created using FXCM’s Marketscope Charts

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Banks Not Happy….Leaders Not Leading….Rates Falling…Late Day Hammer…

When you take the time to study what’s taking place at any given moment in time in this crazy game we call the stock market, you need to look no further than the behavior in the financial banks. They will happily tell you what’s taking place if you allow yourself to listen. To understand the banks you need to look at the CBOE Interest Rate 10-Year T Note ($TNX). Rates are on a straight decline lower. The treasury yield is ignoring the latest rate hike by the Fed, which tells us the picture it’s painting is one of deflation.

Plain and simple. Deflation, and with deflation, comes a market that’s not particularly happy. The banks are in free fall. A true free fall over the past month, or so, and showing no signs of recovery. If the banks aren’t leading the market higher all you’re likely to see are strong oversold bounces or bounces that come from short-term, positive divergences on the index charts. The banks need to strengthen up, and do so in a big way consistently, before thinking the worst is over. Their behavior is very similar to what we saw in 2008 before the big market crash down as the year moved along.

That’s not to say this is guarantee to repeat itself again this year, but it is similar in many ways, and should be a concern for all the bulls out there. There are going to be loads of rally days, or even days, thus, it’s important to remember that nothing, and I mean nothing, is straight down. But the trend is clearly lower for this market, and that trend is definitely being led down by the banks as rates continue to blast down. Until that trend changes, it’s trouble for the banks. When the banks are in trouble the market in general is in trouble. Now remember, this means trouble. It does not mean crash. Markets basically never crash. They methodically break your heart. I do not expect a crash at all. Just an overall, continued trend lower for some time to come, with again, lots and lots of up times to keep things interesting.

Today we saw a late day hammer ahead of the Fed meeting in front of congress that begins tomorrow. The bulls are probably holding on to some hope, but the fact that some short-term charts got very oversold probably helped more than anything to get that hammer. The move off the top has been quite intense over a very short period of time, but now the bulls have to deal with, not only eight open gap down, but just trying to get through this one today won’t be so easy as it’s quite large. Spy 187.95 is the top of the gap down, so before the bulls get too excited, let’s see if they can first take out that key level of resistance on a closing basis, and only then can they start thinking about bigger and better things, all of which will be tough as well. Gaps and downward-sloping moving averages will make things tough for sure on those bulls, so be careful getting too excited about bounces. Also the bulls are dealing with daily oscillators that are no longer oversold, so you can’t count on anything more than those very short-term, oversold oscillators to help out. So we’ll probably see some upward movement tomorrow, but remember to watch 187.95 as that key resistance level very short-term.

Trying to capture oversold, individual stocks is tough in this type of environment simply because the level of oversold varies from stock to stock and from sector to sector. Some stocks may have to get extremely oversold and others just a bit. Trying to know where strength will be found is really tough. You have to try to not get disappointed if you miss a rally. Predicting the rally is very tough. Many have tried and failed as the market or individual stocks did not adhere to normal behavior now that the market is down trending. So many have lost on trying to catch that elusive bottom. You don’t have to be perfect in this game. That’s not the goal. The point is to understand the trend and stick mostly, if not completely, with it. Everyone wants to make the ultimate bottom call. While we can surely bounce, and bounce decently, for a while there is nothing suggesting the worst is over. Down-trending markets take time. They’re tough on the nerves. Try to relax, and let’s see if we can find a better bottom to play over time.

In time, I do believe we’ll take out the most recent low at S&P 500 1812, but you never know, for sure, of course. Just my belief, but it doesn’t have to happen now. A day at a time with a likely bounce on the way if today’s late hammer means anything.
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