With the 2012 InvestorPlace Best Stocks contest completed, the contestants are gearing up for 2013. Listen to Charles Sizemore and Jeff Reeves discuss their 2013 picks and offer their outlook on the year ahead.
If you cannot view the embedded video player, please follow this link.
The post Listen to Charles Sizemore and Jeff Reeves Discuss Their Favorite Stocks for 2013 on The Slant appeared first on Sizemore Insights.
David Banister – www.markettrendforecast.com
The SP 500 has been in a potential 5 wave rally going all the way back to October 2011 lows of 1074. This type of 5 wave rally is common in a Bull Market, but must be watched closely as it could also signal another large correction just around the corner from current 1464 levels on the SP 500 Index. Once you complete a 5 wave bullish pattern, there is commonly a 3 wave corrective decline, therefore determining where those key pivot points are is crucial for market watchers.
If we take a look at the length of the 5 waves in the Rising Wedge pattern from the October 2011 lows of 1074 below, and compare them with other waves 2-5, we can see several fibonacci fractal relationships amongst all of them. This is one of the clues I look for when trying to analyze pivot points and knowing at least what I should be watching for further clues.
In most cases, wave 3 is commonly the largest of a 5 wave structure, but that does not preclude wave 1 from being the largest in the series. To wit, recall the nasty decline into October 2011 that spurred the next big market advance of about 350 points off the bottom. When you have a significant decline preceeding the early stages of a 5 wave advance, often the first wave in the pattern is in fact the largest, which may be the case here.
Let’s take a look at a possible 5 wave count just so we know what to be aware of :
Wave 1: That 350 point advance was a possible wave 1 off the 1074 lows of Oct 2011.
Wave 2: managed to retrace 155 points of that advance into June 2012, a common wave 2.
Wave 3: rallied to the 1474 pivot, which was a 207 point rally. 207 points is about 61% fibonacci relationship to wave 1′s 350 point advance, again another clue.
Wave 4: dropped as we know from 1474-1344, or 130 points. 130 points is also about 61% of Wave 3′s prior advance on the downside.
Wave 5: Theoretically this wave 5 is now from 1343, and if we took 61% of wave 3 advance and add it to 1343, we come up with about 1470.
1470 would then be a double top in the market, stop wave 5 in its tracks… and be followed by a large correction.
So with the above in mind, we advise watching 1470-74 with keen interest as the market will want to take this area out with authority to continue the intermediate bull run. If not, we could be in for some downside trouble…
Consider joining us for free weekly reports at www.markettrendforecast.com or sign up for a 33% discount on a one year subscription today.
David Banister – www.markettrendforecast.com
Source: ForexYard
Hey Everyone,
Below are some market trends for today.
Good luck!
-Dan
Gold- May see downward movement today
Support- 1625.74
Resistance- 1658.79
Silver- May see downward movement today
Support- 28.23
Resistance- 30.45
Crude Oil- May see upward movement today
Support- 91.27
Resistance-93.17
Dax 30- May see upward movement today
Support- 7681.47
Resistance- 7850.00
EUR/USD May see upward movement today
Support- 1.2933
Resistance- 1.3110
Read more forex news on our forex blog
Forex Market Analysis provided by ForexYard.
© 2006 by FxYard Ltd
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.
Source: ForexYard
Can This Month’s NFP Report Send Oil Prices Higher?
At FOREXYARD, we believe in keeping our clients prepared for potentially significant news events. As such, traders will want to pay careful attention to the US Non-Farm Payrolls (NFP) report, set to be released today, January 4th, at 13:30 GMT. As can be seen in the chart below, following a better than expected NFP report last month, speculations that demand for oil in the US would go up resulted in crude prices spiking.
Don’t miss out on another opportunity to capitalize on market volatility!
Analysts widely agree that the Non-Farms report is the most significant news event on the forex calendar. With today’s figure forecasted to come in at 135K, slightly below last month’s 146K, the US dollar could see losses before markets close for the weekend. That being said, a better than expected NFP report could lead to investor risk taking, which would boost oil prices. This is an excellent opportunity for forex traders to take advantage of potentially significant news, so don’t miss out!
Read more forex news on our forex blog
Forex Market Analysis provided by ForexYard.
© 2006 by FxYard Ltd
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.
Source: ForexYard
The US dollar hit a fresh 2 ½ month high against the JPY during overnight trading, as speculations that the Bank of Japan will soon initiate aggressive monetary easing policies continued to weigh down on the Japanese currency.
Fears that US lawmakers will fail to reach a deal to raise the nation’s borrowing limit before the government runs out of money in the next two-months, led to risk aversion in the marketplace and caused the euro to extend its bearish trend against the USD.
Gold took fairly significant losses during early morning trading today, while crude oil prices have remained relatively steady at $92.20 a barrel since last night.
Main News for Today
US Non-Farm Employment Change- 13:30 GMT
• The employment figure, widely considered the most significant event on the forex calendar, is forecasted to come in at 150K, slightly higher than last month’s 146K
• A better than expected result may lead to risk taking in the marketplace, which would boost higher-yielding assets like the euro, crude oil and AUD
US Crude Oil Inventories- 16:00 GMT
• Forecasted to come in at -0.7M, which if true, would signal an increase in oil consumption in the US which may cause oil prices to turn bullish during afternoon trading
Read more forex news on our forex blog
Forex Market Analysis provided by ForexYard.
© 2006 by FxYard Ltd
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.
By Louis Basenese, Chief Investment Strategist, wallstreetdaily.com
It’s Friday in the Wall Street Daily Nation. And longtime readers know what that means…
I’m selecting a handful of graphics to put important economic and investing news into perspective for you.
This week, I’m dishing on non-stop government spending, the importance of emerging markets and the next sovereign debt crisis.
So say “goodbye” to long-winded commentary. Instead, say “hello” to easy-to-understand pictures and some quick-hit observations.
Certainties: Death, Taxes… and More Government Spending
Finally! Congress reached a compromise to avert the dreaded Fiscal Cliff.
Don’t worry about all the details contained in the 154-page bill, though. This graphic tells us all we need to know.
As you can see, all the new taxes don’t go very far towards covering up Washington’s spending problem for the coming year.
Lest you think I’m manipulating statistics to try to hide a delayed benefit, here’s another chart from the non-partisan CBO. It shows the impact of the compromise over the next decade.
I still see a (spending) problem somewhere – do you?
Definitive Proof That Emerging Markets Matter
Do you doubt the significance of emerging markets? Here’s proof that they’re a really, really big deal.
And yet, according to BlackRock, investors only allocate 5% of their capital on average to emerging markets.
Call me crazy, but I bet that allocation goes up in the future – and rightfully so.
If you want to get a head start, a little birdy mentioned something about South Korea. (Details are here.)
Cry for Argentina!
The United States narrowly averted a fiscal crisis. For now, at least. But not all countries promise to be so lucky. Particularly Argentina.
Argentina is the only country that witnessed an increase in the cost to insure against a default last year, as represented by credit default swap (CDS) prices.
That’s not the only troubling statistic, either.
Since 1800, Argentina has reneged on its debt seven times. (Fun fact: That’s one more time than Greece over the same period.)
So that makes Argentina a serial defaulter and debt restructurer.
Misery loves company, Argentina. Greece is waiting.
That’s it for today. But before you sign off, do us a favor. Let us know what you think about this weekly column – or any of our recent work at Wall Street Daily – by sending an email to [email protected], leaving a comment on our website, or catching us on Facebook or Google+.
Ahead of the tape,
Louis Basenese
view article: http://www.wallstreetdaily.com/2013/01/04/friday-charts-fiscal-cliff/
London Gold Market Report
from Ben Traynor
BullionVault
Friday 4 January 2013, 07:00 EST
WHOLESALE Gold Prices fell below $1630 per ounce Friday morning in London, their lowest level since last August and 3.3% below where they were 24 hours earlier, while stocks and commodities also fell and the Dollar gained after Federal Reserve minutes appeared to suggest some policymakers see a case for ending quantitative easing this year.
At its policy meeting last month, the Federal Open Market Committee voted to buy $45 billion of US Treasury bonds per month to support the economy, adding to the $40 billion a month of agency mortgage backed security purchases announced in September.
The minutes from that meeting published Thursday however show that some FOMC members “thought that it would probably be appropriate to slow or to stop purchases well before the end of 2013”.
“The news that some policymakers suggested that the Fed could withdraw QE before the end of year, that put a dent on one of the underpinnings on gold, which is expansionary monetary policy,” says Mark Luschini, chief investment strategist at US broker-dealer Janney Montgomery Scott, which managed $15 billion in assets.
“The Fed stimulus program has been a key driver behind gold,” agrees Ed Meir, metals analyst at brokerage INTL FCStone.
“Removing such an instrumental prop could impact the precious metal dramatically, especially if it was done in rather heavy doses. However, the market that will reel most is the US Treasury market, although commodity in general should feel a blow-back as well through a stronger dollar and/or weaker equity prices.”
Like gold, silver also fell after the FOMC minutes were published, hitting a low of $29.26 an ounce this morning – a daily drop of 5.8% and also its lowest level since August.
Heading into the weekend, gold looked set for a 1.9% weekly drop by Friday lunchtime in London, while silver was down 2.7% on the week.
Broad commodity prices also fell Friday, with oil down more than $1 a barrel on the day, while the US Dollar Index, which measures the strength of the Dollar against other major currencies, touched a six-week high.
Elsewhere in the Fed minutes, the Summary of Economic Projections shows most FOMC members do not expect the Fed will need to raise interest rates until 2015 at the earliest, at which time they forecast the unemployment rate will have fallen to the 6.5% target announced last month.
Later today, the latest US nonfarm payrolls report is due out at 08.30 EST, with the market expecting it to say 150,000 jobs were added to the US economy last month, according to the consensus forecast among analysts. The unemployment rate is expected to hold steady at 7.7%.
Over in Europe, stock markets extended yesterday’s losses this morning, giving up more of the gains that followed Tuesday’s US fiscal cliff deal.
Service sector growth in France and Germany slowed last month, according to purchasing managers index data published Friday, while UK services activity shrank.
HSBC meantime has cut is gold price forecast for 2013. HSBC analysts now say they expect gold to average $1760 an ounce this year, down from the previous forecast of $1850, although they expect to see prices gain from current levels.
“We believe that gold prices will recover this year and retain a pronounced bullish posture,” a note from the bank says.
“[Fed interest rates]are likely to remain at current low levels until sometime in 2015 [and] other major central banks have also adopted conventional or unconventional easing of monetary policy.”
HSBC’s silver price forecast was left unchanged at $32 an ounce average price this year.
Gold value calculator | Buy gold online at live prices
Editor of Gold News, the analysis and investment research site from world-leading gold ownership service BullionVault, Ben Traynor was formerly editor of the Fleet Street Letter, the UK’s longest-running investment letter. A Cambridge economics graduate, he is a professional writer and editor with a specialist interest in monetary economics. Ben writes and presents BullionVault’s weekly gold market summary on YouTube and can be found on Google+
(c) BullionVault 2012
Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.
Source: ForexYard
Speculations that US lawmakers will be unable to reach an agreement to boost the nation’s borrowing limit before the government runs out of money in the next two-months, boosted safe-haven assets yesterday. Both the US dollar and Japanese yen saw upward movement as a result against their higher-yielding currency rivals. Today, the main piece of economic news is likely to be the US Non-Farm Payrolls (NFP) report, set to be released at 13:30 GMT. Widely considered the most important indicator on the forex calendar, the NFP report is certain to generate significant market volatility.
The US dollar saw gains against most of its main currency rivals yesterday, as attention shifted away from the recent “fiscal cliff” agreement, to the US debt ceiling. Lawmakers now have two month’s to reach an agreement to raise the nation’s borrowing limit before the government runs out of money. Concerns that an agreement will not be reached in time led to risk aversion, which boosted the safe-haven greenback.
The USD/CHF gained close to 50 pips during the European session to eventually trade as high as 0.9241, before a minor downward correction brought the pair to 0.9229. The GBP/USD fell more than 90 pips during the same time period to trade as low as 1.6143 before bouncing back to the 1.6170 level.
Today, all eyes will be on the US Non-Farm Payrolls (NFP) figure, set to be released at 13:30 GMT. Analysts are predicting that US employers added 135K jobs in December, slightly less than November’s final result of 146K. If the indicator comes in below the expected level, safe-haven currencies like the USD and JPY could see bullish movement before markets close for the weekend. Conversely, a better than expected NFP report will likely boost riskier assets, including crude oil, the euro and the AUD.
The euro took losses against several of its currency rivals yesterday, as new fears that the US government will soon reach its limit to borrow funds led to risk aversion in the marketplace. The EUR/USD fell close to 80 pips during the European session, eventually reaching as low as 1.3082, before bouncing back to the 1.3100 level. Against the Japanese yen, the euro lost more than 100 pips to trade as low as 113.62, before bouncing back to 113.90 during the afternoon session.
As markets get ready to close for the weekend, euro traders will want to pay close attention to today’s US Non-Farm payrolls report. A better than expected result is expected to generate risk taking in the marketplace, which could help the euro recoup some of its recent losses. In addition, Italian and Spanish service data, set to be released during the morning session, could benefit the common-currency if they come in above their expected levels.
The price of gold saw downward movement yesterday, as risk aversion in the marketplace boosted the safe-haven dollar, which made the precious metal more expensive for international buyers. Gold fell close to $12 an ounce during European trading, to trade as low as $1675, before bouncing back to $1681 during the afternoon session.
Turning to today, gold traders will want to focus on the US Non-Farm Payrolls figure and its impact on the USD. A better than expected figure is expected to weaken the safe-haven greenback, which could boost gold prices before markets close for the weekend.
After reaching a three-month high earlier in the week, the price of crude oil saw relatively little movement yesterday as investors hesitated to open large positions ahead of US inventories data today. The commodity fell some $0.45 during early morning trading, to trade as low as $92.50, before bouncing back to $92.90 during afternoon trading.
Today, in addition to key US employment data which is expected to generate volatility in oil prices, traders will want to pay attention to the US Crude Oil Inventories figure at 16:00 GMT. Analysts are predicting that the figure will come in at -1.9M, which if true, would signal an increase in US demand and boost oil prices before markets close for the weekend.
The Bollinger Bands on the weekly chart are narrowing, indicating that a price shift could occur in the near future. Furthermore, the Williams Percent Range on the same chart has crossed over into overbought territory, signaling that the price shift could be downward. Opening short positions may be the wise choice for traders today.
While the Williams Percent Range on the weekly chart is in overbought territory, most other long-term technical indicators are currently in neutral territory, making a definitive trend difficult to predict at this time. Taking a wait and see approach may be the best choice for traders, as a clearer picture is likely to present itself in the near future.
The Relative Strength Index on the weekly chart has crossed into overbought territory, indicating that a downward correction could occur in the near future. This theory is supported by the daily chart’s Williams Percent Range, which is currently at -10. Opening short positions may be the wise choice for this pair.
A bullish cross on the weekly chart’s Slow Stochastic is signaling that this pair could see an upward correction in the coming days. Additionally, the Williams Percent Range on the same chart has dropped into oversold territory. Traders may want to open long positions today, ahead of possible upward movement.
The Relative Strength Index on the daily chart has crossed into overbought territory, indicating that a downward correction could occur in the near future. Furthermore, the Slow Stochastic on the same chart has formed a bearish cross. This may be a good time for forex traders to open short positions, ahead of possible downward movement.
Speculations that US lawmakers will be unable to reach an agreement to boost the nation’s borrowing limit before the government runs out of money in the next two-months, boosted safe-haven assets yesterday. Both the US dollar and Japanese yen saw upward movement as a result against their higher-yielding currency rivals. Today, the main piece of economic news is likely to be the US Non-Farm Payrolls (NFP) report, set to be released at 13:30 GMT. Widely considered the most important indicator on the forex calendar, the NFP report is certain to generate significant market volatility.
Forex Market Analysis provided by ForexYard.
© 2006 by FxYard Ltd
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.
AUDUSD has formed a cycle top at 1.0527 on 4-hour chart. Pullback to 1.0420 area would likely be seen. Key support is at 1.0344, as long as this level holds, the fall could be treated as correction of the uptrend from 1.0344, another rise to test 1.0585 resistance is still possible. On the downside, a breakdown below 1.0344 will signal resumption of the downtrend from 1.0585, then further decline to 1.0200 area to complete the downward movement could be expected.
