James Hardie – Add to Watchlist
James Hardie Industries is approaching an oversold range where investors should begin monitoring the short-term momentum indicators for a pick-up in buying activity.
The price range for a reversal in price action remains wide at $33 to $39.
Watch Last Night’s Webinar
In case you missed it, you can watch last night’s webinar here.
10-year U.S. Treasury yield
The 10-year U.S. Treasury yield topped 2.79% on Monday, reaching its highest level in three years.
Inner Circle Investment Group
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US Banks – What’s in the Price?
The macro-economic picture is deteriorating fast and could push the U.S. economy into recession as the Federal Reserve tightens its monetary policy to tame surging inflation, Bank of America strategists warned in a weekly research note.
Investors need to ask, what’s in the price? As you can see from the chart below, JPM has corrected over the last 6 months from $175 to $130.
JPMorgan Chase & Co, the largest U.S. bank, is expected to report first-quarter earnings on Wednesday.
Goldman Sachs Group Inc is scheduled to report first-quarter results on Thursday.
BlackRock Inc is scheduled to report first-quarter earnings on Wednesday
Citigroup Inc reports first-quarter results on Thursday
Wells Fargo & Co reports first-quarter earnings Thursday
Morgan Stanley is scheduled to report first-quarter results on Thursday
Gold Road – Buy
Silver – ETF Physical
ETF Physical Silver is under Algo Engine buy conditions.
NASDAQ – Valuation Review
NASDAQ’s PE ratio is now 27X forward earnings with 2022 earnings growth rate forecast at 12.3%. The recent rally is a significant extension given the move higher in interest rates.
The graph below looks at the valuation of the S&P relative to US GDP.
9/4 update: The downside momentum continues in the NASDAQ.
Charter Communications – Buy
Charter Communications, Inc. – Class A Common is under Algo Engine buy conditions.
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