The summer (inflation) cooldown continues…
We anticipated it in NFTRH well ahead of time using the (monthly 30yr yield) Continuum as a visual guide. The idea was that the inflation uproar of Q1…
…needed to be tamped down, preferably to a roughly symmetrical right side shoulder to the one on the left side of a would-be inverted H&S. Continue reading "Signs Of Inflationary Reflation Running Low On Gas"
After a few years run where ARK Invests had at least one, if not three, of the top ten non-leveraged ETFs, 2021 appears to be the year ARK may be dethroned as the top ETF provider.
As it sits at the end of July, ARK’s top funds, the ARK Innovation ETF (ARKK), the ARK Genomic Revolution ETF (ARKG), the ARK Next Generation Internet ETF (ARKW), the ARK Fintech Innovation ETF (ARKF), and the ARK Autonomous Technology & Robotics ETF (ARKQ) are all substantially trailing the S&P 500 or the Vanguard S&P 500 ETF (VOO).
For years Cathie Woods and her team put up astonishing numbers and gave investors market-crushing returns. Some of this success was due to her big, bold calls on Tesla and other future technologies. First, however, these bold predictions, and then, of course, attracted a lot of attention when they came true.
They say success begets failure on Wall Street because once everyone figures out what you are doing, they emulate you, leading you to perform the same as the rest of the crowd. Which, to those on Wall Street, is the same thing as failing. Continue reading "Cathie Woods And ARK Investments Not Having A Great 2021"
The Energy Information Administration reported that May crude oil production rose by 80,000 barrels per day, averaging 11.231 mmbd. This follows a modest decline in April. The May 914 figure compares to the EIA’s weekly estimates (interpolated) of 10.955 mmbd, a figure that was 276,000 lower than the actual 914 monthly estimate.
The largest gain was in New Mexico (49,000 b/d), followed by The Gulf of Mexico (29,000 b/d) and North Dakota (26,000 b/d). On the other hand, production in Texas actually declined by 22,000 b/d.
Given the huge reduction in May 2020, production recovered by 1.2 mmb/d over the past 12 months. This number only includes crude oil.
The EIA-914 Petroleum Supply Monthly (PSM) average figure was nearly identical to the weekly data average reported by EIA in the Weekly Petroleum Supply Report (WPSR). Continue reading "U.S. Crude Production Rises In May"
Bitcoin was in the “To Be Or Not To Be” situation last month as the giant Head & Shoulders pattern emerged to target the utter annihilation of Bitcoin.
This strong support that most of you have shown in the last poll for the main coin kept it from the collapse into the abyss. Let me show you on the chart below what has happened with the terrifying pattern since then.
The model looked just perfect as the price reached the final trigger of the Neckline after building the anticipated Right Shoulder to accumulate enough power for the breakdown. However, the first attempt in late June has failed. The next attempt at the end of July was not as powerful as the angle of attack was not sharp enough, and momentum quickly evaporated after a false breakdown. Continue reading "Bitcoin Update: Reversal Or "Dead Cat Bounce"?"
This week we have a stock market forecast for the week of 8/1/2021 from our friend Bo Yoder of the Market Forecasting Academy. Be sure to leave a comment and let us know what you think!
There will be no forecast this week as I am moving my family across the country and had to disassemble my computer systems, making it impossible to measure and analyze all the data necessary for accurate forecasting.
This enforced pause, as well as the stop loss triggered in SPGI after it cycled down nicely out of the gate, acts as a nice reset, and I thought you would find it interesting if I share what’s going through my mind tactically at the moment.
All traders, IF they are to be (and remain) successful, are expected, heuristic learners.
The word “Heuristic” is defined as.
“Enabling someone to discover or learn something for themselves.
"A “hands-on” or interactive heuristic approach to learning"
And that’s exactly what’s been happening to me over the past few weeks.
You see, the methodology that I use to forecast the markets works like a flashlight you shine out into the infinite darkness of uncertainty.
Let me explain... Continue reading "Weekly Stock Market Forecast"
You are now leaving a Magnifi Communities’ website and are going to a website that is not operated by Magnifi Communities. This website is operated by Magnifi LLC, an SEC registered investment adviser affiliated with Magnifi Communities.
Magnifi Communities does not endorse this website, its sponsor, or any of the policies, activities, products, or services offered on the site. We are not responsible for the content or availability of linked site.
