Novartis approaching 2 support zones
Novartis (NOVN SW) has now consolidated 11% since January last swing high. It's approaching two important levels. First zone 83.63-84.56 is a strong institutionnal demand level and second level is 83 which is the swing low support level ! Keep an eye over the next few days. Source : Bloomberg
The master has failed more than the beginner has tried
Thru Yasin Arafeh
The YEN is COLLAPSING and Abenomics has taught us some lessons:
After years of money printing, Yen now trades to 155 against USD: -32% against USD since 2021, -50% since 2012 The Bank of Japan has been buying over half of the national debt with freshly created yen, plus a bunch of other securities. But there is a price to pay after all: the destruction of the currency: Source Wolfstreet
A great chart by HolgerZ ->
Big Tech vs Non-Profitable Tech (long-duration stocks) curve tracks perfectly the US 10y yield rise. It shows very nicely the consequences of the rise in yields for the stock market. Source chart: Bloomberg
US big tech revolution steamrolling emerging markets equities in one chart.
What would make this trend reverse? Source: BofA, Michel A. Arouet
The dollar yesterday rose for the fifth straight day to fresh highs since November - forming a 'GOLDEN CROSS' (50DMA crossing above the 200DMA)
Source: Bloomberg, www.zerohedge.com
2022-2024 summarised in one cartoon
Thru Andreas Steno Larsen
Gold rallied strongly again yesterday, disregarding entirely the significant reversal seen on Friday.
Meanwhile, the $GLD ETF is still facing significant outflows on a 2-year basis of nearly 45%. Source: Tavi Costa, Bloomberg
