Several companies in the US industrials and materials sectors are performing poorly, despite a record-breaking rally on the S&P 500. Harley-Davidson, Whirlpool and Caterpillar are among stocks showing losses of about 20%, which typically defines a bear market.
Charts for the 10- and 30-year US Treasury yields show no sign of breakout from a downtrend that has been ongoing since 1981, technical analyst Andy Dodd says. His analysis of the 30-year chart shows a recent failed attempt to break through resistance, leaving the downtrend intact.
Accenture has trended upward this year, but technical analyst Bruce Kamich, CMT, sees possible momentum loss in the near term. Most indicators are positive, but the point-and-figure chart shows the stock nearing an upside price target, while the daily chart's moving average convergence divergence oscillator is about to cross to the downside, a signal to consider taking profit or raising sell stops.
McDonald's has risen rapidly, after being range-bound for much of 2018, and technical analyst Mark Newton, CMT, says the stock looks capable of surging past a record of $178.70. A series of lower highs combined with higher lows since the start of the year has formed a symmetrical triangle pattern, indicating capacity for a significant upturn.
Concerns about how US sanctions against Iran and Venezuela affect oil supplies have pushed the price of Brent crude past $80 per barrel, the highest level since 2014. Despite calls from President Donald Trump for OPEC to increase production, members have not responded to an expected shortfall in supply once measures announced against Iran take effect in November.
US President Donald Trump and South Korean President Moon Jae-in have signed a revised free trade agreement. Trump says the revision makes it easier for the US to sell cars, agricultural products and pharmaceuticals in South Korea.
Prevailing economic factors and geopolitical events should have propelled the US dollar to increasingly strong performance this year, James Mackintosh writes, but the currency has weakened in the past month. Mackintosh analyzes reasons behind the shortfall.
As cryptoassets and the regulated financial industry become more interconnected, negative perceptions of the cryptocurrency market could hurt trust in the whole system, a Bank for International Settlements report suggests. The BIS says national regulators' boundaries might have to be redrawn to deal with the borderless nature of cryptocurrencies.
After a recent partnership agreement, the CMT Association and CFA Institute now follow a single Code and Standards. This move benefits the global financial community by setting high standards of education, integrity and professional excellence.
The Educational Web Series comprises hourlong biweekly webcast seminars featuring recognized industry professionals. In the past, we've had such noted technicians as Martin Pring, Ned Davis, Dennis Gartman, Thomas Dorsey, Charles Kirkpatrick, CMT, and Ralph Acampora, CMT.