Author Archive for Zero Hedge

Buildings Collapse, Thousands Take To The Street After Powerful Quake Shakes Mexico City

Courtesy of ZeroHedge. View original post here.

On the anniversary of a massive 1985 earthquake that killed at least 5,000 people, Mexico City has been shaken by another powerful earthquake, the second the shake the city in the past two weeks. Ironically, the quake occurred just two-hours after an earthquake drill. The 7.4 magnitude quake shook buildings in the capital city, sending thousands rushing into the streets, according to Reuters.

The Mayor of Mexico City announced on Twitter that he had activated an earthquake-related emergency committee to organize and supervise the city's response to the quake.

Se activa el Comité de Emergencias de la CDMX, el Gabinete se reúne en @c5_cdmx #mm

— Miguel Ángel Mancera (@ManceraMiguelMX) September 19, 2017

Mexican President Enrique Pena Nieto announced that he is returning to Mexico City immediately, and would convene an emergency council to supervise the federal government's role in the disaster response. He is presently on a flight headed for Oaxaca.

En vuelo a Oaxaca. Regreso de inmediato a la Ciudad de México para atender la situación por sismo.

— Enrique Peña Nieto (@EPN) September 19, 2017

*MEXICO CITY QUAKE DAMAGES DOZENS BUILDINGS IN FIN. DISTRICT

*MEXICO CITY AIRPORT SAYS IT'S INSPECTING RUNWAYS AFTER QUAKE

*MEXICO CITY POLICE CLOSE OFF STREETS IN ZONA ROSA AREA

*NO QUAKE DAMAGES REPORTED AT THE MOMENT:MEXICO CIVIL PROTECTION

*7.1 MAG. EARTHQUAKE PUEBLA MEXICO :EMSC

*7.1 MAG. EARTHQUAKE CENTRAL MEXICO :GFZ

*MEXICO CITY QUAKE CAUSES POWER OUTAGE IN FINANCIAL DISTRICT

*MEXICO CITY BUILDINGS SHAKE IN EARTHQUAKE

*MEXICO BUILDINGS ROCK IN APPARENT QUAKE

*SMOKE SEEN COMING UP FROM SOME BUILDINGS IN MEXICO CITY

*MEXICO STOCKS FALL NEAR SESSIONS LOWS AFTER QUAKE

*SOME BUILDINGS IN ROMA NEIGHBORHOOD IN MEXICO CITY COLLAPSED

Here's a map showing where the quake occurred:

Pictures of the damage are just starting to emerge on twitter:


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If You Like Your Stagnant Wages, You Can Keep Your Stagnant Wages

Courtesy of ZeroHedge. View original post here.

Ever since the great recession of 2008/2009, economists have grown increasingly perplexed by the lack of real wage growth in the U.S. economy despite improving unemployment trends.  Even with a 4.4% unemployment rate, real wage growth has been elusive and hovered between negative 1% and positive 1% for years now.

Of course, it all could have something to do with the ~95 million people who have given up looking for jobs and/or the massive transition to part-time laborers in the Obamacare era, but we're just spitballing here.

Regardless of the reasons, according to a new survey from Aon Hewitt, the downward pressure on U.S. wage growth is unlikely to subside in 2018 with many employers saying their wage growth will be flat YoY.  Per the Wall Street Journal:

Businesses are planning to keep budgets for raises relatively flat in 2018, while continuing to devote more payroll dollars to performance-based pay, according to a survey of salary planning at 1,062 organizations conducted by consulting firm Aon Hewitt.

Despite low unemployment and increased competition for talent, companies are bearish on across-the-board pay raises, said Ken Abosch, an Aon Hewitt executive who works on the annual survey, now in its 41st year.

“Organizations are expressing reservations about the years coming and, for the first time since the recession, are signaling doubt or uncertainty about what they think their performance will look like in the coming year,” he said.

Moreover, in a move that will undoubtedly draw the ire of Bernie Sanders and his socialist followers, companies are increasingly saying that a higher percentage of their overall compensation will be dedicated to merit-based bonuses. 

Companies are paying to keep their highest performers happy and in place, with an average 12.5% of payroll going to incentive and bonus pay next year.

Overall, two-thirds of the organizations in the survey said they will use merit pay to show workers who’s doing a good job, and who could stand to improve. Of those companies, 40% said they would reduce or eliminate raises for low performers. And some high performers will have to work harder


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Hurricane Maria Causes “Widespread Devastation” In Dominica As It Races Toward Puerto Rico

Courtesy of ZeroHedge. View original post here.

In less than two days, Hurricane Maria has strengthened from a tropical storm to a powerful category five hurricane, dubbed in no uncertain terms as "catastrophic" by the NHC. Though it has been downgraded to a category 4 overnight, the storm made landfall on the tiny Caribbean island of Dominica, leaving it utterly “devastated,” according to the island’s prime minister.

"We're just waiting for daybreak to do an assessment of the damage," Dominica Prime Minister Roosevelt Skerrit told CNN's Rosemary Church.

The storm, which made landfall Monday night, has maximum sustained winds of 155 mph, and remains on track to directly hit Puerto Rico, what would make it the first category four hurricane to directly hit the island in 85 years, according to CNN. Skerrit said the island’s “first order of business” following the storm would be to make sure “every single citizen and resident is safe.”

A statement from the National Hurricane Center said Maria’s winds reached 160 miles per hour when it hit the island nation. In an update, the Center said that reports "indicate significant damage to structures has occurred in Dominica."

In a Facebook post, Skerrit said “initial reports are of widespread devastation. So far we have lost all what money can buy and replace. My greatest fear for the morning is that we will wake to news of serious physical injury and possible deaths as a result of likely landslides triggered by persistent rains.”

Meanwhile, the storm early Tuesday morning made landfall on the tiny island Guadalupe, where it is battering homes and businesses with torrential rains and hurricane-force winds…

After slamming through Dominica as a CAT 5 Hurricane, #Maria is now doing this in Guadeloupe – NHC says winds are sustained 160mph. #WBZ pic.twitter.com/HbDbSMrEeg

— Anaridis Rodriguez (@Anaridis) September 19, 2017

Puerto Rico Gov. Ricardo Rosselló has declared a state of emergency ahead of Maria’s landfall, which will likely happen Wednesday. Fortunately, President Donald Trump issued an emergency declaration for federal assistance to augment PR’s ability to


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Global Debt Bubble Understated By $13 Trillion Warn BIS

Courtesy of ZeroHedge. View original post here.

Global Debt  Bubble Understated By $13 Trillion Warn BIS

 - Global debt bubble may be understated by $13 trillion: BIS

- 'Central banks central bank' warns enormous liabilities have accrued in FX swaps, currency swaps & ‘forwards’

- Risk of new liquidity crunch and global debt crisis

- “The debt remains obscured from view…” warn BIS

Global debt may be under-reported by around $13 trillion because traditional accounting practices exclude foreign exchange derivatives used to hedge international trade and foreign currency bonds, the BIS said on Sunday.

Bank for International Settlements researchers said it was hard to assess the risk this “missing” debt poses, but that the main worry was a liquidity crunch like the one that seized FX swap and forwards markets during the financial crisis.

The $13 trillion unaccounted-for exposure exceeds the on-balance-sheet debt of $10.7 trillion that data shows was owed by firms and governments outside the United States at end-March.

The fact these FX derivatives do not appear on financial and non-financial institutions’ balance sheets under current accounting rules means little is known about where the debt lies.

“The debt remains obscured from view,” Claudio Borio, head of the BIS’s monetary and economic department, and two colleagues, Robert McCauley and Patrick McGuire, said in its latest quarterly report.

“Accounting conventions leave it mostly off-balance sheet, as a derivative, even though it is in effect a secured loan with principal to be repaid in full at maturity,” BIS said.

Explaining the risk they added: “In particular, the short maturity of most FX swaps and forwards can create big maturity mismatches and hence generate large liquidity demands, especially during times of stress.”

When buying a foreign asset, a domestic investor has three choices: buy a currency forward, undertake an FX swap or do a repurchase transaction.

But while the first two are recorded on balance sheets on a net basis without taking the notional amount into consideration, a repo transaction is recorded on a gross basis, when all these three types of trades are essentially similar – secured debt.

All these trades are used to remove the foreign exchange risk in a


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Euro Tumbles On Report ECB Is “Concerned And Divided” Over End To QE

Courtesy of ZeroHedge. View original post here.

Talk 'em up, then slam 'em down.

The familiar pattern of "clear and transparent" central bank communication was on full display moments ago, when following months of build up to an ECB taper announcement, the ECB used its favorite mouthpiece, Reuters, to "trial balloon" that an ECB decision over whether to announce a firm end-date to the central bank's bond buying could be "put off until December" as a result of disagreement among the ECB council stemming from "concern over Euro strength" which is leading to "uncertainty and divide within the council."

As a result, some within the ECB want to be able to "extend or expand" buys if needed, in other words if the EURUSD rises too far above 1.20.

The highlights from Reuters:

  • CONCERN OVER EURO STRENGTH IS LEADING TO UNCERTAINTY AND DIVIDE WITHIN ECB COUNCIL – SOURCES
  • ECB POLICYMAKERS DISAGREE ON WHETHER TO SET FIRM END-DATE FOR BOND-BUYING PROGRAMME IN OCT – SOURCES
  • SOME ECB RATE SETTERS WANT TO BE ABLE TO EXTEND OR EXPAND BUYS IF NEEDED – SOURCES
  • SOME ELEMENTS OF ECB DECISION COULD BE PUT OFF UNTIL DEC – SOURCES

And the full report:

European Central Bank policymakers disagree on whether to set a definitive end-date for their money-printing programme when they meet in October, raising the chance that they will keep open at least the option of prolonging it again, six sources told Reuters. A stubbornly strong euro, with its dampening effect on inflation, is driving a rift among ECB policymakers, the sources on the ECB’s Governing Council with direct knowledge of its thinking said.

The split is between ‘hawks’ — led by richer, northern countries such as Germany — who are ready to wind down the 2.3 trillion euros bond-purchase programme and ‘doves’ who simply want to reduce its monthly pace, the sources said.

This is raising the likelihood that they will seek a compromise solution on Oct. 26, whereby any end-date for purchases would not be set in stone, or that they will put off part of the decision until December, the sources added.

The main point of contention is the euro’s continued appreciation against


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Toys “R” Us Files Chapter 11: Second Largest US Retail Bankruptcy In History

Courtesy of ZeroHedge. View original post here.

Toys “R” Us Inc., the largest US "brick and mortar" toys retailer, filed for bankruptcy late on Monday night, as a result of a crushing post-LBO debt load and relentless competition from warehouse and online retailers, the "latest blow to a retail industry reeling from store closures, sluggish mall traffic and the gravitational pull of Amazon.com" according to Bloomberg.  The Chapter 11 filing is among the largest ever by a specialty retailer and casts doubt over the future of its about 1,600 stores and 64,000 employees. It comes just as Toys ‘R’ Us is gearing up for the holiday shopping season, which accounts for the bulk of its sales, and as vendors halt shipments to the now insolvent retailer.

With assets of $6.9 billion, it’s the second-largest retail bankruptcy, trailing the filing in 2002 by Kmart, which had $14.6 billion in assets.

The company was saddled with debt from a $6.6 billion buyout in 2005 led by KKR, Bain Capital and Vornado Realty Trust. Toys ‘R’ Us has bonds coming due over the next few years that lost most of their value this month.

“While today’s decision does not necessarily mean it is game over for Toys ‘R’ Us, it brings to a close a turbulent chapter in the iconic company’s history,” said Neil Saunders, managing director of GlobalData Retail.

“What they have going for them is they are the last major player in their market,” said David Berliner, a partner and restructuring specialist with BDO Consulting. “The vendors don’t want to see them fail, so I think they have a good opportunity to survive.”

The company listed debt and assets of more than $1 billion in its Chapter 11 filing submitted Monday at the U.S. Bankruptcy Court in Richmond, Virginia (an odd place for such a major bankruptcy filing). Prior to filing, the company said that it had secured more than $3 billion in financing from lenders including a JPMorgan Chase & Co.-led bank syndicate and certain existing lenders to fund operations while it restructures. The money will be critical to provide comfort to Toys "R" Us vendors that they will be paid on time. Yesterday the stocks of some key suppliers such as Hasbro and


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Global Equities Hit New All Time High Ahead Of The Fed; VIX < 10; Japan Stocks Surge

Courtesy of ZeroHedge. View original post here.

S&P futures are little changed as the Fed begins its two-day FOMC meeting pushing the VIX below 10, down 1.3% and falling for the 7th day; European shares are lower as is the dollar while Japanese stocks soar on the back of a tumbling yen as a snap election in Japan now appears imminent. Despite the cautious action ahead of the Fed, the The MSCI All-Country World Index rose 0.1% to a new record high.

Among the notable overnight moves, the USDCNH climbed to highest since late August ahead of this week’s FOMC decision. Ten-year Treasury yields fell 1 bp; Australia’s 10-year gained 1 bp. Japanese equities rose 1.5% ahead of an expected snap election to be called by PM Abe this week; China and Hong Kong shares declined. WTI crude holds just below $50; Dalian iron ore contract dropped. The Bloomberg Dollar Spot Index was little changed before tomorrow’s Fed’s policy decision, when interest-rate projections are seen drawing more attention than any balance-sheet announcement as tapering is seen as a given. The euro was supported by unwinding of shorts against the pound and by yen selling amid improved risk appetite and reports of Japan PM Abe calling for snap elections. Treasuries were underpinned in Asian hours as Japanese investors returned after Monday’s holiday, while price action was muted in London trading.

Meanwhile, nobody appeared concerned about tomorrow's Fed announcement, where the balance sheet unwind is expected while attention will focus on any revision to the Fed's dots. “We are not overly concerned about” the Fed’s quantitative-tightening plans, Merrill Lynch and U.S. Trust head of fixed-income strategy Matthew Diczok told Bloomberg TV. “If you model it out, over about the next three years they’ll take out about $1.3 trillion or so. That’s only a third of what they put into the market. So it’s going to be very slow, very gradual, very deliberate and it shouldn’t lead to any near-term fireworks into the market at all.”

Following the recent improvement in data, December rate hike odds once again rose back to 50%, suggesting another rate hike may be possible this year.

JP Morgan Asset Management portfolio manager Iain Stealey said markets were now fully set for the Fed to officially announce


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Bill Blain: “One Fund I Met Is Convinced Bond Markets Are On The Edge Of A Precipice”

Courtesy of ZeroHedge. View original post here.

Submitted by Bill Blain of Mint Partners

Blain’s Morning Porridge – September 19th 2017

     “I had to phone someone so I picked on you. Hey, that far out so you heard him too..”

There is a veritable hurricane of new issues hitting the market. Like the new Ukraine deal they are being priced to sell – perhaps racing to get down before the rains come. There is the sure and certain knowledge this feeding frenzy is going to stop. With a thumping great crunch.

But the new issue bond market is always feast/famine. There is bigger stuff happening. I managed to spend some time yesterday in the West End of London, speaking with a number of clients about where they think markets are going. Three big themes emerged:

  1. Much of the current “noise” is utter distraction – including what’s really going on in Washington, the nuances of the Brexit negotiations, Korea and all the other political rumour and sigh hitting markets. Some of stories emanating from Whitehall, Brussels, Berlin and Washington are tremendous – I’d love to share them, but… 
  2. Strip out the political flummery and noise, and the prospects for global stock markets should be positive. Every major economy that matters is now in positive growth, after 10-years we finally seem to have shaken off the Global Financial Crisis, and stock markets (which high) are not impossibly overvalued. The reflation trade is on.
  3. The fly in the ointment is the bond market. One fund I met is convinced Global bond markets and credit are on the edge of precipice and about to take that terminal step forward. Others fear the unintended consequences of taper and the “End of QE” triggering a reset across global financial asset values – especially across the bond markets.

It’s the possibility of a Global Bond Tremblor unwinding confidence that’s the biggest fear. While the imminent decision (perhaps announced tomorrow) the Fed will no longer reinvest coupon income is significant, most minds aren’t overly concerned on the effects of US taper and a slow gradual rise in US rates on dollar asset values – should be positive for currency. Most believe the US economy is fundamentally


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Hillary Clinton May Challenge Legitimacy Of Presidential Election

Courtesy of ZeroHedge. View original post here.

The US presidential election took place nearly one year ago, but to Hillary Clinton it may as well never have ended.

In an interview with NPR, the former first lady said that "if Russian interference turned out to be deeper than previously thought" she wouldn’t rule out challenging its legitimacy or the outcome.

“No, I wouldn't rule it out,” she said.

Still, even the defeated Democratic nominee admitted that she does not "believe" there is a means to officially challenge the election’s outcome. "I don't know if there's any legal, constitutional way to do that," Clinton said.

“There are scholars, academics, who have arguments that it would be [possible], but I don’t think they’re on strong ground. But people are making those arguments. I just don’t think we have a mechanism,” Mrs. Clinton said. “I think you can raise questions."

Your sure can, especially if it means staying in the public eye day after day reminding the world how your loss was everyone else's fault but your own, to the point where even her fellow Democrats have said enough. Monday’s interview is the latest in a whirlwind of appearances the former first lady has given as she promotes her book, “What Happened.”

In addition to Russia, over the past week, she’s continued to blame James Comey, Bernard Sanders and others for her defeat, and she’s also doubled down on her call to end the Electoral College.

None of this is new: Hillary has repeatedly blamed Russia’s efforts to intervene in last year’s election for her loss to Donald Trump, but her latest comments reflect the depth of her frustration with the Kremlin’s efforts which apparently were channeled by Trump himself.  She charged that the president knew the Russians were trying to sabotage her campaign, but that it’s unclear if he can be held accountable at this point.

“[Trump] knew they were trying to do whatever they could to discredit me with emails, so there’s obviously a trail there, but I don’t know that in our system we have any means of doing that, but I just wanted to add to the point you made. There’s no doubt they influenced the election: We now know


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Guaranteed Income And Living Wage Schemes Cannot Possibly Work

Courtesy of ZeroHedge. View original post here.

Authored by Mike Shedlock via MishTalk.com,

Facebook founder Mark Zuckerberg Supports Universal Basic Income.

In its basic form, universal basic income means “everyone gets a paycheck, whether they have a job or not.”

Many expect even more. They want a guaranteed “living wage”.

Useless Trials

Such schemes cannot possibly work. But that does not stop fools from trying.

For example, Finland is giving out a guaranteed monthly income of nearly $600 to 2,000 citizens.

Canada’s province of Ontario, which includes Toronto, started a pilot program in April that provides 4,000 citizens with an unconditional income of about $12,600 a year. Applicants must be between ages 18 and 64 and living on a limited income.

Those studies cannot prove anything, no matter what the results.

Free Money Proposals Do Not Scale

Sure, one can do a trial and show that 20,000 or whatever sample size is better off.

However, any benefit to the trial participants must at the expense of a bigger deficit or higher taxes on everyone else.

Imagine giving 200 million people a guaranteed living wage. Who is going to pay for it?

Next, imagine all of Europe doing this coupled with freedom of movement.

Why stop there? Imagine the same program for the entire world? Free money for everyone!





 
 
 

Chart School

Minor Changes: Yesterday's and Weekend Comments Remain Valid

Courtesy of Declan.

I don't want to overplay today's action as little changed in the broader scheme of things. Days like today are welcomed and help shape up swing trades for those trading in near term timeframes.

The tight doji in the S&P could be used for a swing trade; buy a break of the high/short loss of low - stop on flip side. High whipsaw risk but look for 3:1 risk:reward and maybe trail stops if deciding to go with partial profits.


Tech averages are still set up for a breakout. While not an ...

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Phil's Favorites

Spanish Government Fearmongering: "Catalonia Faces Brutal Impoverishment If Leave Wins"

Courtesy of Mish.

On October 1, Catalans head to the polls to vote yes or no on separation from Spain.

The Spanish government and constitutional court claim the referendum is illegal but 700 Catalonia mayors say the vote will take place.

Today Madrid launched a major fearmongering campaign: Catalonia Faces ‘Brutal’ Impoverishment If It Leave, Spain Warns.

“The general impoverishment of the society would be brutal. GDP could fall between 25 and 30 percent and unemployment double, ...



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Zero Hedge

Buildings Collapse, Thousands Take To The Street After Powerful Quake Shakes Mexico City

Courtesy of ZeroHedge. View original post here.

On the anniversary of a massive 1985 earthquake that killed at least 5,000 people, Mexico City has been shaken by another powerful earthquake, the second the shake the city in the past two weeks. Ironically, the quake occurred just two-hours after an earthquake drill. The 7.4 magnitude quake shook buildings in the capital city, sending thousands rushing into the streets, according to Reuters.

...



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ValueWalk

FBN Beats CNBC Even During Delivering Alpha Week

By VWArticles. Originally published at ValueWalk.

Fox Business Network ratings for the week of September 11th – September  15th.  FBN beat CNBC even during their big annual Delivering Alpha Conference which is one of the biggest investment conferences of the year with Lou Dobbs leading the pack – another big win for FBN – see more details below

FOX BUSINESS NETWORK SWEEPS CNBC IN BUSINESS DAY FOR EIGHTH TIME THIS YEAR

]]> Get The Full Ray Dalio Series in PDF

Get the entire 10-part series on Ray Dalio in PDF. Save it to your de...



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Insider Scoop

AMD, Marvell Gain Semiconductor Share In Q3

Courtesy of Benzinga.

Related AMD Fast Money Traders Share Their Picks In The Chip Space AMD, Bank Of America, Gilead, Intel: Fast Money Pic...

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Members' Corner

"Citron Exposes Ubiquiti Networks"

What do you think?

"CITRON EXPOSES UBIQUITI NETWORKS" 

Does Ubiquiti Networks (NASDAQ:UBNT) actually have real products that sell to consumers? Of course! So did Valeant and WorldCom, but that does not stop its financials from having every indication of being completely fraudulent.

Citron will detail a series of alarming red flags and detail how Ubiquiti Networks is deceiving the investing public.

Read the full report here.

...

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Digital Currencies

Comparing Bitcoin, Ether, & Other Cryptos

Courtesy of Zero Hedge

Unless you’ve been hiding under a rock, you’re probably aware that we’re in the middle of a cryptocurrency explosion. In one year, the value of all currencies increased a staggering 1,466% – and newer coins like Ethereum have even joined Bitcoin in gaining some mainstream acceptance.

And while people like Jamie Dimon of J.P. Morgan and famed value investor Howard Marks have been extremely critical of cryptocurrencies as of late, many other investors are continuing to ride the wave. As Visual Capitalist's Jeff Desjardins has noted in the past, ...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Biotech

Can low doses of chemicals affect your health? A new report weighs the evidence

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

 

Can low doses of chemicals affect your health? A new report weighs the evidence

Courtesy of Rachel ShafferUniversity of Washington

Assessing the data. LightField Studios/shutterstock.com

Toxicology’s founding father, Paracelsus, is famous for proclaiming that “...



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Mapping The Market

The App Economy Will Be Worth $6 Trillion in Five Years

Courtesy of Jean-Luc

This would be excellent news for AAPL and GOOG to a lesser extent although not inconsequential:

The App Economy Will Be Worth $6 Trillion in Five Years 

In five years, the app economy will be worth $6.3 trillion, up from $1.3 trillion last year, according to a report released today by app measurement company App Annie. What explains the growth? More people are spending more time and -- crucially -- more money in apps. While on average people aren't downloading many more apps, App Annie expects global app usership to nearly double to 6.3 billion people in the next five years while the time spent in apps will more than double. And, it expects the...



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Promotions

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We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

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Just click here at 1 pm est and join in!

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Kimble Charting Solutions

Brazil; Waterfall in prices starting? Impact U.S.?

Courtesy of Chris Kimble.

Below looks at the Brazil ETF (EWZ) over the last decade. The rally over the past year has it facing a critical level, from a Power of the Pattern perspective.

CLICK ON CHART TO ENLARGE

EWZ is facing dual resistance at (1), while in a 9-year down trend of lower highs and lower lows. The counter trend rally over the past 17-months has it testing key falling resistance. Did the counter trend reflation rally just end at dual resistance???

If EWZ b...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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FeedTheBull - Top Stock market and Finance Sites



About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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