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Semiconductors Recover at 20-day MA

Yesterday's selling didn't follow through with additional losses, instead, indices dug in at lows and managed to recover some of yesterday's selloff. The best recovery came from the Semiconductor Index. It gained over 1% as it bounced off its 20-day MA. However, it wasn't enough to stop a 'sell' trigger in the MACD and CCI.Next is the Nasdaq 100. It staged...

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Preparing for the Trump Tantrum

Preparing for the Trump Tantrum US equities recovered moderately after the sharp decline yesterday; investors were in buy the dip mode during a rare US equities market pull back. Despite the amount of ink spilt over the health care vote, fundamentally the  US economic landscape looks bright, and investors were quick to snap up bargains. However, news of the deplorable terrorist attack in London held the upward momentum in check. US Congress will vote on the AHCA ...

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Trudeau Government Presents Canadian Federal Budget

Finance Minister Bill Morneau has tabled his second federal budget, a document that fleshes out the details of the government’s infrastructure spending and plans for innovation while avoiding major tax changes. The budget revises the deficit for the year just ended, rising slightly to $23 billion, and forecasts a deficit for the coming year of $28.5 billion, including a $3-billion “risk adjustment.” Here are highlights from the 2017 federal budget: Deficit: $28.5 billion, up ...

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US Policy Risk Highlights Politically Charged 2017 for Markets

Overbought. Technically tired. There are more sellers than buyers. These phrases describe the state of the stock market in the last session-and-a-half. No doubt, the stock market is long overdue for a correction, after a scorching rally since the election, and a solid start to 2017. Stocks went 109 days without a 1 percent daily decline, a relatively unusual duration. There is no...

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Market Anxiety High as Doubts on Trump Policies Rise

Shares, oil and the US dollar were all under pressure as global financial markets took fright at the prospect that Donald Trump would fail to deliver on his growth-boosting promises. In the most nervous conditions since the immediate aftermath of the president’s shock victory in last November’s elections, stock markets in Asia and Europe fell in response to Tuesday’s sharp decline on Wall Street. The...

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Gold Rally Continues on Market Disappointment with Fed, Weak Housing Report

Gold prices continue to move higher on Wednesday, as the base metal has posted daily gains for a sixth straight day. In the North American session, the gold is trading at $1251 per ounce, its highest level since the end of February. On the release front, housing and inflation data was a disappointment. Existing Home Sales dropped to 5.48 million, missing the forecast of 5.59 million. As well, the House ...

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