Halliburton Is Setting Up For A Short

Halliburton issued their second-quarter earnings report today.  The beat the expectations on earnings, but was short expectations on sales.

“International revenue increased 6% sequentially, confirming our expectation of high single-digit international growth for all of 2019. Momentum is building internationally and activity improvement should continue into 2020,” said eff Miller, Chairman, President and CEO. “Both of our divisions made meaningful contributions to growing North America revenue and margins in the second quarter. We are successfully executing our strategy of controlling what we can control and managing our business to perform well in any market conditions.”

Source

That was enough for the stock to receive a couple of upgrades.  Citigroup’s Scott Gruber reiterated a Buy rating and $33 price target and Stephens analyst Tommy Moll reiterated an Overweight rating and $45 price target on the stock, highlighting Halliburton’s ability to deliver “higher margins in North America despite macro headwinds.”

But here’s the problem, the Energy Select Sector SPDR ETF (XLE) is lagging the S&P 500,

and Halliburton is lagging the XLE

Although oil has risen since January lows, it’s still below $60.  Thus, there isn’t a lot of incentive for the producers to produce because they are marginally making a profit, so don’t have a lot of need for the service companies such as Halliburton.

Thus, despite the upgrades, the chart suggest to short Halliburton at the weekly supply at $25.25

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

Are You Still Buying The Equity Bull Market???

The Dow Jones Industrial
Average, S&P 500 and Nasdaq Composite keep making new all-time highs.  So do you still believe in this Bull
Market???  If you do, well…you should because
we still are making higher highs vs. lower lows. But I want to give you some
food for thought to be careful.

Consumer discretionary to technology, cyclical stocks that typically associated with bull markets while in down turns or bear markets, consumer staples typically outperform.  However, both consumer discretionary and consumer staples sector are at all time highs…TOGETHER…HOW CAN THIS BE???

Consumer Discretionary Select Sector SPDR (ETF), XLY

Consumer Staples Select Sector SPDR (ETF) , XLP

With the US equity markets, consumer staples and consumer discretionary all all-time highs, something has to give because based on intermarket correlations, this doesn’t make any sense. This is when one has to dig a bit deeper.

 The consumer discretionary sector has consistently lagged the consumer staples sector ever since last year.

Source

For the bull market to continue to run, the discretionary sector must eventually outrun the staples or at some point we will see the equity markets start making lower highs, then lower lows.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

STEEM: a clear Double Bottom Pattern…

….and it would indicate something good for the price if STEEM wouldn’t have so much selling pressure from the wales and from @steemit in particular.

A double Bottom pattern is a Bullish Pattern that usually describes a change in trend and a momentum reversal from prior leading price action. It is normally accompanied for a divergence in some of the technical indicators and this is what we see at RSI indicator on the daily chart:

RSI Indicator:


MACD Indicator:

… as I said, if it was any other ALTCOIN I would not have any doubt to claim BULLISH Action on it but we are talking about STEEM which is being really controlled from those that state that STEEM is a decentralized blockchain….

Will see what happens next…in the meantime, I would try to accumulate as much as possible.


@toofasteddie

Can Bulls Prevent a Knockout? Analyzing Bitcoin, LTC, ETH & Answering Your Questions

Bulls are still defending $10,000, but bears are attempting to land a knockout punch. Price dropped from $10,500 to $10,150 in less than 20 mins. Just another day in the crypto market.

Screen Shot 2019-07-22 at 11.07.18 AM.png

In today’s video I’ll analyze Bitcoin, Litecoin and Ethereum. We’ll discuss the 4 hour death cross, where prices may be heading next, traps to avoid and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/?workin2005/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

If you found this post informative, please:

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Intermarket Relative Strength Analysis Report For The Week Starting 7/22/19

Instead of looking at financial markets or asset classes on an individual basis, intermarket analysis looks at several strongly correlated markets or asset classes, such as stocks, bonds and commodities. This type of analysis expands on simply looking at each individual market or asset in isolation by also looking at other markets or assets that have a strong relationship to the market or asset being considered.

The US economy is still the largest in the world and the US dollar is still the most powerful currency in the world.  Over half of all foreign currency reserves in the world are in US dollars.  Thus, the asset classes relative strength will be compared to the US Dollar.

Bitcoin

30 Yr Bond

Copper

Euro Dollar

Gold

Oil

Soybeans

S&P 500

Based on the moving averages and the last daily closing price, relative to the moving averages,

the asset classes’ relative strength, relative to the US Dollar are the following:

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

World Stock Market Relative Strength Analysis Report For Week Starting 7/21/19

The Standard & Poor’s 500 Index (known commonly as the S&P 500) is an index with 500 of the top companies in the U.S. Stocks. Because the S&P 500 Index represents approximately 80% of the total value of the U.S. stock market, it’s the bellwether index for the U.S. stock market. In addition, the U.S. stock market is the largest stock market in the world, it’s also the bellweather for equity markets around the world. The S&P 500 is arguably the most important stock market index on the planet.

Source Image

Because we live in a global economy, the global equity markets interconnected and highly correlated.  However, some will outperformance other in the short term and long term. When constructing an equity portfolio, for the best returns one needs to have the ability and the capacity to assess all the major equity markets around to asset allocation purposes.  However, the first step is to determine the relative strength of the major equity markets, relative to the bellweather, the S&P 500.

DAX (Germany)

Dow Jones (US)

FTSE 100 (England)

Nasdaq (US)

Nifty 50 (India)

Nikkei 225 (Japan)

Shanghai (China)

Russell 2000 (US)

Based on the moving averages and the last daily closing price, relative to the moving averages,

the world equity markets’ relative strength, relative to the S&P 500 are the following:

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

SPDR Sector Relative Strength Analysis Report For Week Starting 7/22/19

Sector rotation is the action of shifting investment assets from one sector to another to take advantage of cyclical trends in the overall economy in an attempt to beat the market.  Sector rotation seeks to capitalize on the theory that not all sectors of the economy perform well at the same time because sectors of the stock market perform differently during the phases of the economic and market cycle.

For example, defensive sectors such as consumer staples, utility and health care stocks tend to outperform during a recessionary phase, while consumer discretionary and tech stocks tend to fare well during early expansions.

When you trade, you want the strongest stocks in the strongest sectors, which is why you should monitor sector performance carefully.  With that said, lets determine the relative strength of the sectors relative to the S&P 500 ETF, SPY for the upcoming week.

Communication Services (XLC)

Consumer Discretionary (XLY)       

Consumer Staples (XLP)   

Energy (XLE)                

Financials (XLF)           

Health Care (XLV)                           

Industrials (XLI)  

Materials (XLB)                      

Real Estate (XLRE)          

Technology (XLK)                  

Utilities (XLU)

Based on the moving averages and the last daily closing price, relative to the moving averages,

the SPDR sectors’ relative strength, relative to the SPY are the following:

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

Bitcoin: The Battle Rages On

Yesterday we discussed the potential for a bull trap. I told you if the breakout was a bull trap, it’d likely reject at $11,050. That’s exactly what happened. As of now, price is again trading within the prior area of consolidation around $10,400.

Screen Shot 2019-07-21 at 2.50.29 PM.png

Bears executed a simple death cross (50 MA below 200 MA) on the 4 hour chart a few days ago. Since then, bulls have been fighting to prevent a follow through exponential death cross (50 EMA below 200 EMA) on the 4 hour chart.

Screen Shot 2019-07-21 at 2.51.27 PM.png

In today’s video we’ll discuss where price may go from here, key areas to watch, your questions and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/?workin2005/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

If you found this post informative, please:

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Get paid for viewing ads and Support the Crypto Ecosystem with Brave Browser. Free download here:
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YouTube: https://www.youtube.com/c/workin2005
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Feature Image By: Saul Gravy

Forex Relative Strength Analysis Report For Week Starting 7/21/19

Some of the world’s currencies are accepted for most international transactions. The most popular currencies are accepted for most international transactions are the U.S. dollar, the euro, and the yen. However, the U.S. dollar is the most popular.

And in the foreign exchange market 90 of forex trading involves the U.S. dollar. Thus, when assessing the relative strength of the most popular currencies in the world, it’s always against the U.S. dollar, using the dailytime frame chart.

The “major” forex currency pairs are the major countries that are paired with the U.S. dollar (the nicknames of the majors are in parenthesis).

AUD/USD – Australia dollar (Aussie) vs. the U.S. dollar

EUR/USD – Euro vs. the U.S. dollar

GBP/USD – British pound (Sterling or Cable) vs. the U.S. dollar

NZD/USD – New Zealand dollar (Kiwi) vs. the U.S. dollar

USD/CAD – U.S. dollar vs. the Canadian dollar (Loonie)

USD/CHF – U.S. dollar vs. the Swiss franc (Swissie)

USD/JPY – U.S. dollar vs. the Japanese yen (the Yen)

Based on the moving averages and the last daily closing price, relative to the moving averages,

the currency relative strength relative to the US dollar is the following:

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

BITCOIN: a decisive moment

And here we are again trying to define the market destiny!

Bulls seems to gain terrain in front of the Bears but we can not say who will win until we see what happens in front of the 11000 USD resistance level.

I personally expect for a sudden acceleration of the price upwards as soon as BTC breaks that level. If so, I am pretty sure we can bet for another higher high of BITCOIN and thus for the whole Crypto Market…

By the way, the “balance” between TETHER and BITCOIN is not met so, ALTCOINS are also getting feed here in a strongly manner:

In particular, have a look to BCH , ADA, TRON, EOS and BITCOIN SV, all of them rising higher than 10% while BITCOIN 4%…

Enjoy!

@toofasteddie


Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

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