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February 2014 | Elliott Wave Analytics

  • Quick Reversal In Investor Sentiment
    By on February 28, 2014 | 1 Comment1 Comment  Comments
    As investors headed into the end of December, bullish sentiment was pushing extremes which led me to write a post entitled “Market Bulls Should Consider These Charts” in early January.   A few days later, the markets entered into a two week correction of 6% that sent investors scramb...
  • ECB Set To Bring Out The Bazookas This Year and What ...
    By on February 28, 2014 | 2 Comments2 Comments  Comments
    Since 2012 we’ve seen the balance sheet of the European Central Bank (ECB) contract as Europe has been slowly healing after the upheaval in 2011. While the Euro has rallied and European equities have enjoyed strong gains, conditions in Europe remain difficult. As seen below, the average unemployme...
  • The Stock Market’s Shaky Foundation…
    By on February 28, 2014 | 1 Comment1 Comment  Comments
    According to the stock markets in the US and in Europe, the world’s economy is not just in good shape, but is in the best shape it’s ever been. The S&P 500 hit an intraday new record high of 1,858.71 on Feb 24, 2014, and is now 18.6% above the peak it hit in 2007, a moment everybody now r...
  • Euro and Yen: Big Moves and Changes Just Ahead?
    By on February 28, 2014 | 2 Comments2 Comments  Comments
    Are currencies the dogs and most other assets the tail and the dog wags the tail? Much of the time this has been true. I bring this up due to the potential important price points, the Yen and Euro find themselves at right now.   CLICK ON CHART TO ENLARGE The Yen finds itself testing a 15-year supp...
  • Jakobsen Warns of Global Economic Vacuum
    By on February 28, 2014 | 1 Comment1 Comment  Comments
    Steen Jakobsen, chief economist at Saxo Bank in Denmark, sent an interesting email yesterday regarding China, Germany, the European debt crisis, and equity prices. Steen is one of the speakers at Wine Country Conference II, May 1-2 in Sonoma, California. What follows is from Steen, I dispense with ...
  • Housing: Is It Really Just The Weather?
    By on February 28, 2014 | 1 Comment1 Comment  Comments
    There is little argument that the economic data has been “weaker than expected”with the reason being quickly attributed to “the weather.”  This has particularly been the case with regard to the recent housing data which has put a dent into the “housing recovery will...
  • China Gold Imports Surge – Or Fall. You Decide.
    By on February 27, 2014 | 1 Comment1 Comment  Comments
    Chinese gold imports are becoming a case study in the power of journalists to control the slant of a story by deciding which facts to highlight. The following chart contains the relevant data. Here’s how the mainstream press, in this case Bloomberg, handled it:   China’s Gold Shipments Fro...
  • Buffett’s Annual Letter: What You Can Learn From My...
    By on February 27, 2014 | No Comments  Comments
    It does not hurt to be reminded once in a while about what it means to be a “true investor,” and who better to remind us than Warren Buffett? Today’s Outside the Boxcomes to us from the pages of Fortune magazine (hat tip to my good friend Tom Romero of Capital Research Partners, who is a pr...
  • Richmond Fed Manufacturing: The February Slowdown
    By on February 27, 2014 | No Comments  Comments
    As a resident of the Fifth District, this is a regional manufacturing index I pay close attention to. The Fifth District includes Virginia, Maryland, the Carolinas, the District of Columbia and most of West Virginia. The Federal Reserve Bank of Richmond is the region’s connection to the nation...
  • Changing Culture: Gasoline Sales and Demographics
    By on February 27, 2014 | No Comments  Comments
    The Department of Energy’s Energy Information Administration (EIA) data on volume sales is over two months old when it released. The latest numbers, through mid-December, were published yesterday. However, despite the lag, this report offers an interesting perspective on fascinating aspects ...
  • The Collapse Of Bitcoin
    By on February 27, 2014 | 1 Comment1 Comment  Comments
    Bitcoin is a virtual currency that has no intrinsic value.  The only thing giving bitcoin value is the faith that people have in it, and now that faith has been shattered.  This week, the most prominent bitcoin exchange in the entire world, Mt. Gox, totally collapsed.  At one time, Mt. Gox boaste...
  • A Technical Review Of The CRB Index
    By on February 27, 2014 | 1 Comment1 Comment  Comments
    From our free weekly video log here is a technical review of the widely followed and often misunderstood CRB Index ($CRB) – a weighted index of commodities that is heavily skewed toward oil and energy related instruments. Currently, the index can be regarded as being technically bullish accord...
  • Chart Of The Day: Confidence and Retail Sales
    By on February 27, 2014 | No Comments  Comments
    As I was reviewing and updating my economic data, the following chart jumped out at me.  Historically, as one would expect, retail sales and consumer confidence have been very highly correlated.  That is until 2009, when bailouts, cash for appliances, cash for clunkers, housing rebates, etc. flood...
  • Revisiting Why Benchmarking Is A Bad Strategy
    By on February 27, 2014 | 1 Comment1 Comment  Comments
    Just recently my friend Cullen Roche wrote a great piece entitled “Can we All Agree to Stop Comparing Everything to the S&P 500” in which he stated: “Benchmarking is a pernicious thing in financial circles.  Not only because it disconnects the way the client and a fund manag...
  • Case-Shiller Home Price Gains Slow
    By on February 27, 2014 | 1 Comment1 Comment  Comments
    Standard & Poor’s reported(.pdf) that home price gains slowed in December, however, last year was the best year for U.S. home prices since 2005 as annual gains for the 20-city index came in at 13.5 percent, down slightly from an annual gain of 13.8 percent in November. The month-to-month rat...
  • Treasury Bonds Still Tracking Opposite To Stocks
    By on February 27, 2014 | No Comments  Comments
    Treasury bonds were down last year as stocks rallied. They then rallied when stocks stumbled in the fall, but stumbled again from October to Dec. 31, as stock rallied to new highs. They then rallied in January as stocks sold off, but have been back down in February as stocks have rallied. Bonds w...

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