Wednesday, December 21, 2016

How to Get a Firm Handle on Gold's Ups and Downs / Commodities / Gold and Silver 2016

By: EWI

Watch the yellow metal's price pattern to anticipate key junctures

By Elliott Wave International

[Editor's Note: The text version of the story is below.]

Tuesday, December 20, 2016

Financial Markets on the Edge / Stock-Markets / Financial Markets 2016

By: Anthony_Cherniawski

I begin the day by discussing an error in my Elliott Wave structure and how it was remedied. You may recall that on a larger scale, the USD is in some type of Broadening Formation. I figured that Wave (C) of [4] hadn’t completed yet and I had calculated the structure in a way that still gave me upper limits on how far it could go.

Tuesday, December 20, 2016

Trumpenstein ! Who Created Him and Why? / Politics / US Presidential Election 2016

By: GoldCore

The election of Donald Trump has cast the political elite around the world into a state of shock. His arrival, so soon after the titanic Brexit vote, has profoundly undermined the neo liberal political status-quo that has dominated western economies over the past 30 years.

Tuesday, December 20, 2016

Stock Market Up Day, But Substantially Off the Highs / Stock-Markets / Stock Markets 2016

By: Harry_Boxer

The stock market indices started out the week with a pop to the upside, a very strong rally ensued, the Nasdaq 100 jumped from 4912 to 4963 to a new all-time high. The S&P 500 popped, but couldn’t get anywhere near the highs, reaching up to 2267.47, only 9 points off the lows, and then they backed off. In the afternoon, the Nasdaq 100 came down in a strong 3-wave decline, taking it from 4963 1/2 to 4926. It bounced at 4933 at the close, and managed to close positive on the day, but substantially off the highs.

Tuesday, December 20, 2016

Stock Market Doesn't Look Right... / Stock-Markets / Stock Markets 2016

By: Anthony_Cherniawski

SPX emerged under the trendline again, after another rally attempt. The reason I am discussing this is that the next three days in a row have the potential for a large decline. No promises, just the potential. Technically we should be under the lower channel trendline to get a confirmed sell signal. The problem is, the potential for a panic decline right off the top is very high…and this may be the first time in market history for this to happen.

Tuesday, December 20, 2016

Warnings We’ll Wish We’d Heeded — Plunging US Jobless Claims / Economics / Unemployment

By: John_Rubino

It’s the same story every time: Imbalances build up during a recovery but most investors ignore them because good times have become the new normal and the uptrend seems bullet-proof. Then things fall apart and everyone wishes they’d paid attention to history.

This series will cover a few of the more glaring examples of late-cycle myopia, beginning with jobless claims, i.e., the number of people joining the ranks of the unemployed.

Tuesday, December 20, 2016

Brace Yourself For Italy’s Bankruptcy / Interest-Rates / Eurozone Debt Crisis

By: John_Mauldin

When Charles Gave of Gavekal chooses to express displeasure over an economic trend, an asset class, or what have you, he does not mince words. Right now, Charles is exercised about Italy.

When Italy adopted the euro in 1999, Charles argued at the time that Italy would change from being an economy with a high probability of many currency devaluations to one with the certain probability of eventual bankruptcy. Now, he says, the fateful moment is not far off.

Tuesday, December 20, 2016

Trump’s FDA Chief May Implement Progressive Approval for Drugs / Companies / Healthcare Sector

By: John_Mauldin

BY PATRICK COX : President-elect Trump's cabinet appointments are generating a great deal of attention and controversy. After eight years of Democrat rule, it would be foolish to expect otherwise.

One appointment, though, will have a profound impact on your health… and the health of your loved ones.

Tuesday, December 20, 2016

Trump Appointees Could Make Up The Majority Of The Fed In Two Years / Interest-Rates / US Federal Reserve Bank

By: John_Mauldin

BY PATRICK WATSON : The Trump administration's economic team is beginning to take shape, but we still don’t have nominees for two Federal Reserve Board vacancies.

Whoever gets them will have a chance to truly disrupt the global economy. That’s a big deal—so why haven’t we heard more about Trump’s plans for the Fed?

Monday, December 19, 2016

Chinese Yuan's Day of Reckoning / Currencies / China Currency Yuan

By: Michael_Pento

China's economy and markets have been defying the laws of economics since 2009. Amid a worldwide financial crisis during that year, they managed to grow their economy by 8.7%. But that growth was fueled by a $586 billion dollar government stimulus package, which was followed by an additional $20 trillion dollars in new construction spending over the next seven years.

China's economy became the envy of the world as the economy expanded through the edict of government to build massive cities that were mostly vacant. In fact, estimates are that 52 million homes in China are currently vacant and 90% of those empty units were purchased for investment purposes.

Monday, December 19, 2016

A KEYNESIAN CHALLENGE: Prove Deflation is Bad For ME! / Economics / Deflation

By: Gordon_T_Long

'Mish' Shedlock and Gordon T Long discuss a number of outstanding issues in 2016 that will become Themes in 2017.

Economic Challenge to Keynesian's

Mish is quite emphatic that:

"Of all the widely believed but patently false economic beliefs is the absurd notion that falling consumer prices are bad for the economy and something must be done about them. The BIS did a study and found routine deflation was not any problem at all.

“Deflation may actually boost output. Lower prices increase real incomes and wealth. And they may also make export goods more competitive,” stated the BIS study.

Monday, December 19, 2016

After Aleppo: America Needs a New Syria Policy / Politics / Syria

By: Dr_Ron_Paul

Over the past week, eastern Aleppo was completely brought back under control of the Syrian government. The population began to return to its homes, many of which were abandoned when al-Qaeda-linked rebels took over in 2012. As far as I know, the western mainstream media did not have a single reporter on the ground in Aleppo, but relied on "activists" to inform us that the Syrian army was massacring the civilian population. It hardly makes sense for an army to fight and defeat armed rebels just so it can go in and murder unarmed civilians, but then again not much mainstream reporting on the tragedy in Syria has made sense.

Monday, December 19, 2016

SPX may be hit by a double whammy / Stock-Markets / Stock Markets 2016

By: Anthony_Cherniawski

While the SPX Premarket is slightly positive it has a cluster of Primary Cycle turns starting last Friday and lasting through this week that suggest something remarkable may happen. Friday morning was the terminus of an irregular (truncated) Wave (c) correction. The decline afterwards wasn’t very deep, but enough to cross beneath the trading channel trendline and become trapped beneath it at the close,

Monday, December 19, 2016

On the 225th Anniversary of the United States’ Bill of Rights / Politics / US Politics

By: Antonius_Aquinas

This December, 2016, marks the 225^th anniversary of the ratification of the first ten amendments to the US Constitution which would become known as the “Bill of Rights.”  To secure passage of the Constitution, the framers of the document (the Federalists) had to agree that it would contain explicit language on individual rights.

Monday, December 19, 2016

Bail-Ins Coming To Italy? World's Oldest Bank "Survival Rests On Savers" / Stock-Markets / Credit Crisis Bailouts

By: GoldCore

The world’s oldest bank and Italy’s third biggest bank, Monte dei Paschi di Siena (MPS), is making a last-ditch emergency attempt as the year ends to convince tens of thousands of ordinary Italian savers to help it escape state hands.

MPS shares fell 8.5% in early trading this morning as the bank began its attempt to entice institutional and retail investors to snap up fresh shares. The bank wants 40,000 retail investors and savers to take part in a complex €5 billion (£4.18bn) bailout. The Tuscan lender said it is pressing ahead with a highly-ambitious plan to persuade private investors to convert their bonds into shares. This process must be completed in the next two weeks – by the end of the year.

Monday, December 19, 2016

Stock Market More Short-Term Fluctuations Along Record Highs - Which Direction Is Next? / Stock-Markets / Stock Markets 2016

By: Paul_Rejczak

Briefly: In our opinion, speculative short positions are favored (with stop-loss at 2,330, and profit target at 2,150, S&P 500 index).

Our intraday outlook remains bearish, and our short-term outlook is bearish. Our medium-term outlook remains neutral, following S&P 500 index breakout above last year's all-time high:

Intraday outlook (next 24 hours): bearish
Short-term outlook (next 1-2 weeks): bearish
Medium-term outlook (next 1-3 months): neutral
Long-term outlook (next year): neutral

Monday, December 19, 2016

UK Savings Trends Treasury Report 2016 - A Year of Misery / Personal_Finance / Savings Accounts

By: MoneyFacts

Moneyfacts UK Savings Trends Treasury Report data, yet to be published, highlights that all of the banking groups have cut rates in 2016’s race to the bottom.

Monday, December 19, 2016

What Washington's Rivals Stand to Gain From Hacking the Presidential Campaign / Politics / US Presidential Election 2016

By: STRATFOR

Earlier this month, U.S. President Barack Obama ordered the intelligence community to conduct a full review of the 2016 presidential election before Donald Trump is inaugurated on Jan. 20, 2017. The move came amid growing suspicions that Russian intelligence agencies were behind the recent hacking of email accounts belonging to members of the Democratic National Committee and presidential hopeful Hillary Clinton's campaign manager, John Podesta. Though many people's computers have been compromised before, the fact that the attack targeted prominent political figures during a presidential race — and that tens of thousands of emails gained in the process were then posted to WikiLeaks, an organization with clear connections to Russian intelligence — has caused an uproar.

Monday, December 19, 2016

UK Christmas Sales 2016 High Street and Online Start Dates Full List / Personal_Finance / Shopping

By: Nadeem_Walayat

Britain is enjoying a post BrExit consumer boom courtesy of the Government and Bank of England hitting the panic button following the BrExit vote, injecting an extra £150 billion into the UK economy. So Britain's shoppers with more cash in their wallets look set to go on a debt fuelled spending binge at the cathedrals of modern Britain, and so consumers infected with sales fever will be out hunting for bargains as Christmas has long since morphed into a month long relentless advertising campaign to keep consumers spending all the way into January.

Monday, December 19, 2016

Federal Reserve and Stronger Real Rates Cause Breakdown in Gold / Commodities / Gold and Silver 2016

By: Jordan_Roy_Byrne

Gold and gold mining stocks were setting up for a rebound until the market suddenly priced in tighter policy from the Federal Reserve. Both nominal and real yields surged and that pushed an already oversold sector below key support. Gold lost support in the mid $1100s while gold stocks (GDX) lost a critical support level. While the sector is oversold and likely to rebound as 2017 begins, the primary trend remains lower.