FINANCIAL ICEBERG
Always consider hidden risks



Jean-Pierre Desloges CFA  is a professional  investment consultant/ blogger/ trader with over 25 years of experience working on the buy and sell-side.

​​I have researched and invested in traditional and alternative asset classes and worked at Pensions Funds, International Banks and Dealers.   
More...




If you would like to receive our free daily markets updates, please Sign-up
Thanks for following me...
SUPPORT THIS BLOG
Individuals​






If you feel you have received some valuable information from this site, you
​can help this blog and it will be gratefully accepted to help support my efforts to provide you with timely and insightful comments on trading and investments.

Payment Options
SUPPORT THIS BLOG
Institutionals
Payment Options
Market Insight

May 31

SPY ETF/Apple Shares: A Tale of Two Wedges?
The market participants never gave attention to that twoWedgestechnical pattern on a weekly basis on SP500 Index (SPY ETF) andApple Shares​.

SP500 CBOE SKEW Index: Still Complacent Market?
​​
But the SKEW to VIX ratio is at the moment getting near ​a level were in the past have been associated with short term peaks in the SP500 and is now testing near the Major Resistance Trendline that started back since September 19 2014.

​​Choose Your Weapon - John P. Hussman

Understand, however, that this is exactly what investors are saying when they assert that current stock prices are “justified” by low interest rates.

Why Stocks Should Jump Following Memorial Day Week

If the major equity indexes do make a move toward 52-week highs, don't be surprised if HFT algorithms kick-in and sell off stocks at the highs.

​US Yield Curve: Global Yellow Light?
Could it be that while the US economy can handle a gradual normalization of monetary policy in the US, the rest of the world cannot do so? That may be the message conveyed by the US yield curve.

​Why higher interest rates are the biggest threat to the global economy
​​​​​Central banks are keenly aware of the strong relationship between asset inflation and interest rates. Housing now makes up the largest component of people’s net worth and therefore remains a key factor in building consumer confidence and increasing spending levels.

​​


​​May 26

​SPY ETF: The Ultimate Technical Battle for Bulls?

We are getting very close on a Daily basis of a Major Resistance Trendline that started back since the ultimate peak in price reached​ on May 20 2015.

TSX Energy Index ETF XEG : My Rising Wedge?
But the most interesting factor is as we are near breaking the resistance trendline on a ratio basis, we have the same pattern price wise. Near testing a Major Resistance from a rising wedge that started back since Oct 9 2015.

​​Rotation into beaten-down sectors underpins stock rally
Heavily weighted, underperforming sectors lead current rally

​​​Stock Bulls Make Important Stand
The Global Dow – among other indices – successfully defended its breakout level of last month.

​​​Warning sign: China sets currency at 5-year low

China's leaders continue to worry about the country's economy. The rest of the world should too.

​​​Secrets of the Dow Jones Industrials
‘Keeper’ of the Dow Jones Industrial Average tells what he learned, and why Steve Jobs rang his phone

​​​Cuddling and Egg McMuffins Show Economic Slowdown Underway

What do escorts and McDonald’s have in common? Both are responding to the end of economic growth, says Andrew Zatlin



​​​

​​​​May 25

SP TSX60 Index (XIU ETF): Major Monthly Technical Zone?
But the most interesting technical factor is that we are near testing the Monthly Resistance of a previous Major Breakdown Trendline (that started back since March 2009) for the ​SP TSX60 Composite ​Index.

SP500 Financials (XLF) : A tiny Breakout?
Bulls still have a lot of work to do as we need to break the 200 DMA ​(Day Moving ​Average) on a relative basis ​ and the next Major Resistance Trendline... 

May Usually Finishes With Strength
Over the past 21 years, the major indices have generally reached a low point sometime around the seventeenth to the nineteenth trading days in the month.

​​Stocks Treading Water Masks Underlying Shifts
The SP 500 may look like it’s merely treading water, but a lot of money is sloshing between different types of stocks...

Sector Snapshot: Dollar Rally Could Impact Leaders
The obvious conclusion the market has drawn is that a weak dollar is positive for US growth because it is positive for global growth. In a sense it is the volatile dollar that has gotten us in this mess.

Signals from the U.S. Yield Curve: World Can’t Handle Fed Rate Hikes

Ed Yardeni at Yardeni Research Inc. posits that one possible explanation is that, “while the US economy can handle a gradual normalization of monetary policy in the US, the rest of the world cannot do so.”

​​​This Might Be The Most Extreme Stock Market Euphoria We Have Ever Seen“Bull markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria.” -Sir John Templeton

​​Banks Keep Cutting Bond Traders as One-Third Gone Since 2011
The world’s biggest banks have shed about one in three bond traders since 2011 as rules making some businesses less profitable dovetail with volatile markets that are spooking investors...

​​​​​​​​​​May 24

SP Dividend ETF SDY: Chasing Yield?
The market still favor the dividend stocks over the broad stock market indices lately. Simply stated, we are again into another wave of yield chasing as investors takes more and more risks to achieve less and less financial return. Sound familiar?

The Industrial Sector (XLI) : Relative Support?
Bulls need to protect that zone for the XLI ETF unless, a gap down is expected and test the previous breakout trendline.

​​What Does History Say About Markets That Fail To Make New Highs For Over One Year?77% Of The Cases Ended With A Bear Market

​​A Peculiar Large Cap Top?
An index of the largest stocks in the market just formed an apparent triple top – but is it a legitimate concern?

Dizzy Over Dividends? [INFOGRAPHIC]
US companies that offer high dividends are very popular among equity investors today. Shares of these companies are trading near record high valuations...
​​

Only About One-Quarter of Corporate Stock is owned by Taxable Shareholders.Only about one-quarter of U.S. corporate stock is held in taxable accounts, far less than most researchers and policymakers thought. The share has declined sharply from more than four-fifths in 1965.

Bigger Than All The World’s QE’s Combined
What we find, then, of Japan is the combination of factors that are evident almost everywhere else around the world post-Great Recession. Monetary “stimulus” is asking consumers and households to bear the burdens of that “stimulus” in order that the full recovery will take place – except as we find elsewhere, the post-GR environment has already proven that the recovery will never take place.
​​

​​May 23

SP500 Index Behavior: A Monetary Aggregate?
Is the SP500 Index just become a simple new Monetary Aggregate?​​​​

​US Dollar and SP500: At Technical Crossroads?
The US Dollar Index is within a Downtrend Channel but most importantly at the Resistance Trendline that started back since January 29 2016: Breaking that Channel Trendline will increase tremendously the Volatility of all US Financials Assets.

The Coming Fed-Induced Pension Bust - John P. Hussman

QE has effectively front-loaded realized past returns, while destroying the future return prospects of conventional portfolios, at least as measured from current valuations. As a result, the coming years are likely to see a major pension crisis across both corporations and municipalities because the illusory front-loading of returns has encouraged profound underfunding.”
​​

Stock Share Buybacks Now Bought Out -- American Enterprise in Decline
However, the buybacks aren't yielding the returns they once were, and the corporations have already taken on a load of debt for past buybacks that is even threatening the credit rating of some.

Sell on the panic!
Forget everything you’ve been told about how to respond to stock market volatility: Selling into it may not be that bad of an idea after all...




​​

















​​









​​




​​


​​
​​​​​

​​​
​​​​​​​











​​
​​​​​

​​
​​​​​​​


​​​​


​​​






​​












​​
​​​​





​​​​



​​​​​

​​






​​
​​​​​​​​​

​​
​​​​​​​​​​
​​​
​​​​​​​​
​​​​​​​​
​​​
​​

​​​​​​

​​​​​​

​​​​​​




​​​​​​​


​​​​​







​​​​



​​​​​​​​​

​​​​​​​​





​​​​

​​














​​​​​​​





​​​​​​​​​​

​​​​​






​​
​​​​​​​​​​​






​​​​​​​​
​​​​​​
​​​

​​​​​​​​



​​​​


​​​​​​​​​



​​​​​​​


​​​​​​​​​​​​
​​​​​​​

​​​​

​​​​​​​​​​

​​​​​​​​​​




​​​​​


​​​​​








​​​​​​​​​​​

​​​​​​​


​​​
​​



​​​​​​​


​​​​



​​​​​​​


​​​​​








​​

​​​​






​​​​​​​​
​​​​​​​​


​​





​​​​​
​​​​​​​
​​​​​​​



​​​​

​​














​​​​​​



​​​​​
​​

















​​​​






​​​​​

​​​​​

​ 
​​​​​​​​​

​​​







​​​​​​​
​​



​​​​​





​​​​​​
​​​

​​​​​






​​​​​​​​​​​

​​
​​​​​​

​​​​​






​​​​​​​​​



​​​​​​​




​​​​​​​​​





​​​​​​


​​​​​​
​​​​​​​​​

​​

​​
​​

​​​​​​​​​

​​
​​​​​


​​​​​

​​​​​​
​​​







​​




​​​​​
​​​​​

​​

​​​​​​


​​​​

​​









​​



​​​​​​
​​



​​​​​​


​​​​​

​​

​​​​
​​
​​​​​​​

​​

​​​​​​​

​​​​​​

​​​​


​​


​​​​​​
​​​​​
​​
​​

​​





























​​​​​​​​​

​​






​​​​

​​
​​​​





​​​​​​​​​

​​​​​​
​​

​​
​​​​

​​​​​​

​​
​​​​


​​​​​

​​​​​




​​​​
​​​​​​​​​​
​​​​​​
​​​​​​​​

​​​​​​​​



​​
​​​​​​

​​​​​​​​
​​


​​​​
​​
​​​
​​​​​​​​


​​​​​​

​​


​​​​
​​​​

​​​​​


​​​​​



​​​​​

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​

​​​​​


​​​​


​​​​

​​​​​​

​​
​​​​​​​
​​



​​


​​​​

​​​​​​

​​​​​

​​


​​
​​

​​
​​​

​​​​

​​​


​​​​​

​​​




​​​​​

​​​​

​​

​​​​


​​​​

​​​​​​




​​





​​
​​​​

​​​
​​
​​​




​​
​​


​​

​​



​​

​​​

​​​​


​​​​
​​
​​​​




​​
​​​


​​​​​​

​​​​​​​​

​​​​​

​​​
​​
​​

​​​


​​​​​

​​​
​​​​​​

​​​​


​​​








​​
​​​​​
​​
​​​​


​​
​​​​

​​​
​​​​
​​
​​​
​​
​​​


​​​


​​​


​​​
​​​

​​​

​​​​​



​​
​​​​



​​





​​






​​​​

​​​​



​​​​



​​


​​








​​


​​
​​​




​​


​​​










​​




​​​


​​

​​
​​


​​​


​​




​​​





​​​





​​










​​




​​

​​


​​





​​​
​​



​​
​​




​​

​​​​​​​




​​

​​












​​​
​​


​​





​​

​​



​​


​​​




​​




​​​



​​





​​​​


​​




​​





​​​


​​



​​​




​​​

​​​




​​

​​

​​












​​​

​​​

​​​


​​


​​​​




​​​




​​​



​​







​​




​​​​
​​





​​


​​

​​




​​














​​​​




​​

​​



​​





U

C

E

A

G​​​
​​​​
M

U

C

E

A

G​​​

Please remember to support my efforts
​by clicking on the ads on the blog