Despite a rally back in the USD and the sudden recalibrated growth outlook for the world from Brexit, Commodities are picking up steam.
GLEN, X: Resource names may be building another round of momentum to take out recent highs after a sharp pullback took 25% off the run in names like US Steel.
RUSSELL (IWM): The Russell staged a big move off the lows at 960 and has been consolidating for a few weeks above the important 1075 level ( $108 in the $IWM).
Lots of talk today on Brazil and a potential move to the right with the (all white and all male) Michael Temer government moving into place. What’s clear is that the market locally has enjoyed the political change and maneuvering and hope of a new fiscal backdrop.
Investors need to look closely at the chart of the commodity index (CRB) for a fresh break of the 200dma to the upside that if sustained will be the first time the index has traded above this key technical level since August 2014 or just after the rout in oil began to gain steam.
Alibaba reports BMO tomorrow and is down 3% today on claims that the government regulator is concerned with fraud and oversight. Buy the dip?
We have made our view on Volatility very clear for months: We said you wanted to trade it and own it when it got cheap because we were entering an extended period of heightened volatility.
We have made plenty of noise about the improving China (FXI, quote) macro and the stimulus that is being dripped into the economy (the latter helping the prior) and now it seems that the street is starting to take notice and global and “cross-over” investors are voting with their feet.
Indian equities are at all time highs, and the reverberations around PM Modi’s emphatic victory are widespread for EM.
- ‘Panda’ adds light touch to security checksSource: China.orgPublished on 2016-09-01
- Thousands resettled for world’s largest telescope in ChinaSource: China.orgPublished on 2016-09-01
- Mngonyama joins Maritzburg United on a permanent deal from SundownsSource: South Africa Times Live – newsPublished on 2016-08-31
- SuperSport United sign Aubrey Modiba from Cape Town CitySource: South Africa Times Live – newsPublished on 2016-08-31
- Jack Wilshere joins Bournemouth on loan from ArsenalSource: South Africa Times Live – newsPublished on 2016-08-31
- Champions Leicester City break club record for Algerain striker Islam SlimaniSource: South Africa Times Live – newsPublished on 2016-08-31
- Nice sign Mario Balotelli from LiverpoolSource: South Africa Times Live – newsPublished on 2016-08-31
- Source: South Africa Times Live – newsPublished on 2016-08-31
- Hain, Macy’s get hitSource: Fast MoneyPublished on 2016-08-31
- Jobs data to prick bond market?Source: Fast MoneyPublished on 2016-08-31
- Tesla’s next moveSource: Fast MoneyPublished on 2016-08-31
- Cash troubles for Tesla?Source: Fast MoneyPublished on 2016-08-31
- Is the oil rally over?Source: Fast MoneyPublished on 2016-08-31
- Time to sell Twitter?Source: Fast MoneyPublished on 2016-08-31
- Worst days over for Deutsche Bank?Source: Fast MoneyPublished on 2016-08-31
- ‘Panda’ adds light touch to security checks