U.S. stock seen in holding pattern as investors look for fresh catalysts after tax bill U.S. stocks were set for another apathetic day of trade, with futures struggling for direction on Thursday as traders looked for fresh catalysts after the tax bill was approved.
Several economic indicators ahead, including weekly jobless claims and a revision to growth domestic product, could provide some inspiration for investors later.
What are indexes doing?
Futures for the Dow Jones Industrial Average YMH8, +0.06% were up 16 points at 24,755, while those for the S&P 500 index ESH8, +0.13% gained 3.4 points to 2,685. Futures for the Nasdaq-100 index NQH8, -0.02% dropped 2.75 points to 6,486.20.
The muted action mirrors the mood from Wednesday, when the S&P 500 SPX, -0.08% and Dow average DJIA, -0.11% both ended 0.1% lower and the Nasdaq Composite Index COMP, -0.04% fell 0.04%.
The three benchmarks on Monday closed at all-time highs on signs the highly anticipated tax reform would get appro..Read More →

GBP/USD Candlesticks and Ichimoku Analysis Weekly
• Last Candlesticks pattern: Shooting star
• Time of formation: 31 Jul 2017
• Trend bias: Down
Daily
• Last Candlesticks pattern: Morning star
• Time of formation: 25 Aug 2017
• Trend bias: Near term up

GBP/USD – 1.3380

Although the British pound fell marginally to 1.3302 late last week, the subsequent rebound suggests further consolidation would b seen and test of 1.3420 cannot be ruled out, however, a daily close above resistance at 1.3466 is needed to signal the pullback from 1.3550 has ended and bring further gain to 1.3500, then retest of 1.3550. Only a break above this recent high would abort and signal the rise from 1.3027 has resumed instead, bring further subsequent headway to resistance at 1.3596, however, still reckon upside would be limited and price should falter below another previous chart resistance at 1.3658 (this year’s high).
On the downside, below 1.3330-35 would bring a retest of 1.3302, bre..Read More →

Opinion: Why Tesla is literally an unbelievable stock Tesla isn’t an attractive investment now — not just because of the stock’s high valuation but also because it fails a basic quality test, which I shamelessly borrowed from Warren Buffett: Would I own the shares if the stock market were to close for 10 years?
Think about the next 10 years. You can draw an upward-sloping stock-chart line for Tesla TSLA, -0.64% into the next decade and drool over the rosy vision of Tesla’s future that CEO Elon Musk has painted — produce half a million Model 3s and bunches of electric Tesla Semis and roadsters, and then send a roadster to Mars (I kid you not; that is in his 2018 plan.
Before you do that, though, think about another version of the next 10 years: higher (maybe much higher) interest rates, a recession in the U.S. and around the globe, and a less-forgiving bond market where Tesla would have pay a substantial premium to Treasurys (as would any other company that loses over a billion dolla..Read More →