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By Jill Mislinski The latest Conference Board Leading Economic Index ((LEI)) for June was up 2.0% from the May final figure of 100.0. Here's an excerpt from the technical notes : The Conference Board LEI for the U.S. increased for a second consecutive month in June, fueled mostly by ...
The risk-on rally has been strong and unrelenting, but it may be close to being over. The soaring Nasdaq 100 ( QQQ ) and copper prices have been the biggest beneficiaries of this rally, and both are at significant inflection points that would suggest a reversal of a trend, from risk-on to risk...
Half of the independent Canadian restaurants recently surveyed say that they are unlikely to survive the current crisis. This is bad news for small business owners in the sector, as well as related lenders, employees, landlords, economic growth and tax collection. A similar trend is eviden...
Just a brief blog post here to share some pattern lessons from the S&P 500. First, context matters, and that context is: Bullish because of the existing uptrend from the March 2020 lows. Trend integrity matters. Bullish because all-time highs just overhead provide a "magnetic" pull...
There are signs of recovery in various parts of the global economy, starting in May, after the depressive dip imposed by COVID-19. Such signs emerged after the easing of restrictions on mobility established to flatten out the pandemic curves, and also reflected policies of flattening the rece...
By Blu Putnam and Arthur Yu We know from the monthly employment data and weekly unemployment claims data that the U.S. economy started to bounce back in Q2 2020 from the pandemic-induced shutdown. We will not get a comprehensive reading on the magnitude of the bounce until the Q2 real GDP ...
This piece is a sequel to our May 11 Seeking Alpha article ( Piling On Gold And Equities For A Possible Peak In Late May-Early June: Sell In June, Buy In July ). The May 11 article projected the then ongoing equity rally to end in late May-early June (No Sell In May), but to sell during the ...
You may have noticed in the last several months that the value of the S&P 500 has become really sensitive to things Fed officials say and do. And you wouldn't be wrong. Last week, we noted investors seemed to be pricing in the expectation the Fed would adopt a more expansionary mon...
By Philip Lawlor, head of Global Investment Research Equity factor performance has been riding a risk-on/risk-off roller coaster in recent months. Though risk appetite has revived since the March meltdown, an undercurrent of defensiveness persists. Spirits ran high in May as economies be...
Technically Trapped Last week , we discussed why we were taking profits in positions that had gotten egregiously overbought for the second time this year. To wit: "For the second time in a single year, we have begun the profit-taking process within our most profitable names. Apple (AA...
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NEW YORK , Aug. 28, 2020 /PRNewswire/ -- Direxion continually reviews its product range to ensure it's meeting the needs of our clients. Based upon a recent review, the Board of Trustees of the Direxion Shares ETF Trust has decided to liquidate and close 15 ETFs (each, a "Fund" and c...