Smart Investing Today – Your Stock Market Market Digest
What’s behind the Chinese Yuan’s Uptrend in 2017?
The Chinese yuan (FXI) has surged to its highest level against the US dollar (SPY) in 2017 amid the mixed performances of its macroeconomic factors.
How Einhorn Sees Passive Fund Management
Einhorn believes that passive fund management investment strategies are fundamentally momentum strategies.
Corporate earnings in the limelight on Wall Street; ECB in focus
U.S. stock index futures pointed to a flat to slightly higher open on Thursday, as investors prepared to digest another batch of corporate earnings reports.
Precious Metals Snapshot
- Gold Spot Price: $1,258.60 per ounce
- Silver Spot Price: $16.62 per ounce
- Platinum Spot Price: $941.10 per ounce
- Palladium Spot Price: $850.10 per ounce
Gold & Silver Spotlight
SPDR Gold Shares (GLD) share price is $119.26, which is 0.8% above its 50-day exponential moving average of $118.36
The RSI is 59.98 which suggests that SPDR Gold Shares (GLD) is technicallyneither overbought nor oversold.
Based on the share price being above its 5, 20 & 50 day exponential moving averages, the current trend is considered strongly bullish and GLD is experiencing buying pressure, which is a positive indicator for future bullish movement.
According to the MACD, SPDR Gold Shares (GLD) is currently on a Sell Signal.
Over the next 4 weeks, SPDR Gold Shares (GLD) has on average historically risen by 0.2% based on the past 12 years of stock performance.
SPDR Gold Shares (GLD) has risen higherby an average 0.2%in 6 of those 12 years over the subsequent 4 week period,corresponding to a historical probability of 50%
SPDR Silver Shares (SLV) share price is $15.6, which is 0.7% below its 50-day exponential moving average of $15.71
The RSI is 48.92 which suggests that SPDR Silver Shares (SLV) is technicallyneither overbought nor oversold.
The current trend is relatively stagnant and SLV is experiencing slight buying pressure.
According to the MACD, SPDR Silver Shares (SLV) is currently on a Sell Signal.
Over the next 4 weeks, SPDR Silver Shares (SLV) has on average historically fallen by 0.7% based on the past 11 years of stock performance.
SPDR Silver Shares (SLV) has fallen lowerby an average 0.7%in 4 of those 11 years over the subsequent 4 week period,corresponding to a historical probability of 36%
Trending Stocks On The Move
Capital One (COF) share price is $87.94, which is 5.8% above its 8-day exponential moving average of $83.09
Capital One (COF) share price is $87.94, which is 7.7% above its 50-day exponential moving average of $81.66
According to the MACD, Capital One (COF) is currently on a Buy Signal.
Independent Bank Corp. (INDB) share price is $71.35, which is 5.4% above its 8-day exponential moving average of $67.67
Independent Bank Corp. (INDB) share price is $71.35, which is 22.6% above its 50-day exponential moving average of $58.18
According to the MACD, Independent Bank Corp. (INDB) is currently on a Buy Signal.
Monro Muffler Brake Inc. (MNRO) share price is $48.35, which is 10.5% above its 8-day exponential moving average of $43.74
Monro Muffler Brake Inc. (MNRO) share price is $48.35, which is 5.9% above its 50-day exponential moving average of $45.64
According to the MACD, Monro Muffler Brake Inc. (MNRO) is currently on a Sell Signal.
The VIX figure is 9.36. This is 46.3% below the historic median figure of 17.45.
The CBOE Volatility Index® (VIX®) is a key measure of market expectations of near-term volatility conveyed by S&P 500 stock index option prices. Historically, VIX levels above 50 correlate closely with periods of stock market panic while VIX levels below 20 are more typical during relatively calm periods in the market.
The 10,000 Foot Economic View
Total Market Cap / GDP
Chart for Total Market Cap / GDP
The ratio of the Total Market Capitalization (Wilshire 5000) to United States GDP is 1.3351. This is 50.8% above the historic median figure of 0.89.
The higher the Market Cap/GDP figure is relative to its median level, the higher the perceived risk in the market. Markets can remain overvalued for extended time periods.
The S&P Earnings is 94.59. This is 68.5% above the historic median figure of 56.14.
The higher the S&P Earnings are above their median level, the higher the perceived risk in the market.
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