A number of issues are prompting renewed speculation among market participants as the European Central Bank meets this week. Analysts will look for indications on the end of bond buying, as well as the strength of the euro, the course of EU inflation and the choice of a successor for President Mario Draghi.
The way I learned it, the bigger the base, the higher in space. The first stock is Oracle, which broke out last year above the former highs from 2000. To me, this is evidence that the overhead supply going back 18 years has now finally been absorbed by demand and we are set up for a major leg higher. If we are above 46.50 in $ORCL, we want to be very aggressively long with a target above $70.
-- JC Parets, CMT
Cadence Design Systems, $CDNS, jumped in February and then trended higher until a top at the end of November. It pulled back from there to the 50-day SMA and held, rising it for a month, before dropping below it. A bounce then brought it back to the prior top, where it is finding resistance. The RSI is pushing up in the bullish zone with the MACD rising. Look for a push over resistance to participate higher.
An ascending triangle pattern has formed on the chart of leisure-travel operator Carnival, which is sometimes interpreted as a sign of an impending share plunge, but technical analyst Chad Shoop, CMT, contends it indicates continuation of a trend line, which is upward in Carnival's case, and he forecasts a substantial breakout soon.
President Donald Trump has signed a bill to end a three-day shutdown of the government. Senate Democrats voted for an interim measure that funds the government through Feb. 8 after Senate Majority Leader Mitch McConnell, R-Ky., said he would allow a vote on an immigration bill in coming weeks.
US tax cuts will briefly accelerate growth of the global economy but benefits will be short-lived, the International Monetary Fund says in a report presented at the World Economic Forum. The IMF raised its global growth forecast to 3.9% for this year and 2019.
The capacity for artificial intelligence to become progressively smarter will lead the technology to challenge and rewrite fundamental financial concepts, such as depreciation, writes Stuart Kirk.
AFME has suggested strategies to tackle nonperforming loans in the EU, a subject due for discussion at a finance ministers' meeting today. AFME calls for more priority on harmonising insolvency laws and says increasing banks' capital requirements might not be appropriate.
Theodor Weimer, newly appointed CEO at Deutsche Boerse, intends to bring a larger share of euro clearing to Frankfurt, Germany, from the activity's hub in London. Weimer acknowledged the exchange has faced challenges but noted his determination for growth, pointing out opportunities in the index business and in currencies, commodities and fixed-income trading.
Eurozone finance ministers came to a "political agreement" to approve an additional €6.7 billion in bailout funds for Greece. The nation is set to leave the bailout effort in August.
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