Forex News 24

5 Top Stock Trades for Tuesday: CRM, NFLX, BA, UTX
Gold Price Challenges Resistance; Crude Oil Prices Appear Heavy
investorplace.com | 522: Connection timed out
[ALERT] Beware: Global Monetary Reset Is Coming
6 Chinese Stocks to Sell That Are Suffering From a Digital Ad Slowdown
June 10, 2019 : EUR/USD Intraday technical analysis and trade recommendations.
5 Quality ETFs to Buy That Qualify for Your Portfolio
Loonie Breakout Tests USD/CAD Support
Gold Prices Surge to Multi-Month Highs
7 Flag Day Images to Post on Social Media in 2019 7 Flag Day Images to Post on Social Media in 2019

5 Top Stock Trades for Tuesday: CRM, NFLX, BA, UTX

Posted: 10 Jun 2019 02:17 PM PDT

After weekend news regarding the cancellation of tariffs on Mexico, U.S. stock were primed for more gains on Monday. While not as explosive as some bulls had hoped, others are pointing out just how far we've rallied over the past few days. Let's look at some top stock trades as part of a busy Monday.

Top Stock Trades for Tomorrow #1: Salesforce

Salesforce (NYSE:CRM) was part of a loaded "Merger Monday" after it snapped up Tableau Software (NYSE:DATA) in an all-stock deal worth $15.7 billion.

So far though, shares aren't reacting too kindly, down more than 6% on the news. The move drops shares below range support near $152.50, as well as prior downtrend resistance (blue line). CRM stock was able to hurdle the latter mark on its post-earnings rally last week.

So what now?

If Salesforce can't reclaim this $152.50 area, the 200-day moving average will be called upon almost immediately near $150. Should it fail to hold, the following levels will be on watch: The 38.2% retracement at $146.95, last week's lows and the 50% retracement at $140.58.

Top Stock Trades for Tomorrow #2: United Technologies

Click to Enlarge

Topping CRM's near-$16 billion deal is the mega-merger between United Technologies (NYSE:UTX) and Raytheon (NYSE:RTN). The tie-up has even drawn early concern from President Trump, which is likely why both stocks are off their session highs as investors worry about regulatory approval.

It was disappointing that $130 couldn't hold as support. Now bulls will want to see support in this $126 to $128 area hold up. It marks the backside of prior downtrend resistance, the 200-day moving average and the 38.2% retracement.

If it holds, see if UTX can reclaim its 20-day moving average, then possibly its 50-day moving average.

Top Stock Trades for Tomorrow #3: Boeing

Click to Enlarge

Boeing (NYSE:BA) is finally over downtrend resistance, but it has bigger hurdles on the horizon. For instance, the 200-day and 50-day moving averages loom large at $360.40 and $364.25, respectively.

Not to mention since the 737 MAX issues, the $360 to $362 area has been acting as range support for BA. That creates a very vital level just ahead. If BA can clear this area, $400 is back on the table.

If it acts as resistance, look to see if the 20-day moving average and backside of prior downtrend resistance can act as support.

Top Stock Trades for Tomorrow #4: McDonald's

Click to Enlarge

McDonald's (NYSE:MCD) has dumped lower since Monday's open, ultimately falling about 2% on the day. The bulls aren't in trouble yet though.

I want to see shares hold over $200 and the 20-day moving average. Above that and all is well; new all-time highs are still on the table. Below this area calls the 50-day moving average into question at $195. Below the 50-day and $187.50 is next on the list.

But before you get too bearish, just look at this stock during the month of May. It was a total beast and while the market was melting down, shares didn't even test the 50-day. Don't bet against MCD quite yet.

Top Stock Trades for Tomorrow #5: Netflix

Click to Enlarge

Netflix (NASDAQ:NFLX) is reminiscent of CRM, but without breaking back below prior downtrend resistance (blue line).

Remember, almost all of FANG — Facebook (NASDAQ:FB), Amazon (NASDAQ:AMZN) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) — are under watch for antitrust practices. NFLX seems to be safe of that risk, but that doesn't mean the other three can't weigh it down.

Shares are teetering just above the 38.2% retracement near $350, with range support down near $340 and the 200-day at $337.50. Last week, shares temporarily broke below all of these support levels, but quickly reclaimed them with a big rally.

For now, the 50-day is acting as resistance. If shares hold up over downtrend resistance and the 38.2% retracement, see if it can reclaim the 50-day. If they fail as support, see if $337 to $340 holds as support. Below could attract plenty of sellers, especially if FANG weighs it down.

Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell was long AMZN and GOOGL.

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Gold Price Challenges Resistance; Crude Oil Prices Appear Heavy

Posted: 10 Jun 2019 02:14 PM PDT

Gold prices briefly popped to highest levels in 14 months. Meanwhile, crude oil appears to trade in a bearish impulse wave that is incomplete.

The video above is a recording of a US Opening Bell webinar from June 10, 2019. We focused on the Elliott wave patterns for key markets such as gold, silver, crude oil, DXY, EURUSD, GBPUSD, NZDUSD, and USDJPY.

Waiting for a break in gold prices

Last week, gold prices popped to their highest level in nearly 14 months. The subsequent softening in gold prices this week opens the door for competing Elliott wave interpretations.

Though we can count the minimum waves in place for the three-year sideways triangle to be complete at the May 2, 2019 low, this recent rally has not pushed high enough to confirm. If the triangle that began July 2016 is finished, then gold may forge a large rally pushing deep into the $1400's and possibly $1500. A move above the 'B' wave high near $1365 would help this bullish scenario.

However, we are keeping in mind the alternate count in that Friday's high near $1348 was simply wave 'D' of the three-year triangle. This implies another deep correction in gold to below $1250 and possibly the $1200 zone. A break down below $1265 would add further weight to the likelihood of a continuation on the triangle pattern.

Bottom line, watch for a break above $1365 to confirm a bullish stance or a break below $1265 to temporarily delay the bullish stance until the three-year triangle is completed.

Crude oil bumps higher in an apparent relief rally

The move lower in crude oil prices from the April 2019 high appears to be taking the shape of an Elliott wave impulse. If so, we cannot count the minimum waves in place yet for the impulse. This suggests lower prices are likely on the horizon.

It appears the current Elliott wave for crude oil is wave 'iv'. This wave may grind higher towards $55.75 and eventually meet the blue line on the four hour chart. If crude oil is successful in reaching $55.75, then we will be on the lookout for another turn lower in wave 'v'.

Though not expected, if a rally continues up to and through $60.12, then another pattern is at play and we will need to reassess the wave picture.

Bottom line, we cannot rule out higher crude oil pricing. A bias towards lower pricing and a retest of the $50 low is maintained so long as crude oil remains below $60.12.

Elliott Wave Theory FAQ

How does Elliott Wave theory work?

Elliott Wave theory is a trading study that identifies the highs and lows of price movements on charts via wave patterns. Traders analyze the waves for 5-wave moves and 3-wave corrections to determine where the market is at within the larger pattern. Additionally, the theory maintains three rules and several guidelines on the depth of the waves related to one another. Therefore, it is common to use Fibonacci with Elliott Wave analysis. We cover these topics in our beginners and advanced Elliott Wave trading guides.

After reviewing the guides above, be sure to follow future Elliott Wave articles to see Elliott Wave Theory in action.

—Written by Jeremy Wagner, CEWA-M

Jeremy Wagner is a Certified Elliott Wave Analyst with a Master's designation. Jeremy provides Elliott Wave analysis on key markets as well as Elliott Wave educational resources. Read more of Jeremy's Elliott Wave reports via his bio page.

Join Jeremy in his live US Opening Bell webinar where these markets and more are discussed through Elliott wave theory.

Follow Jeremy on Twitter at @JWagnerFXTrader .

Recent Elliott Wave analysis you might be interested in…

GBPUSD Elliott Wave Analysis: Bullish Wave 3 could carry to 1.35

S&P 500 Patterns Point to an Eventual December Low Retest

8 scenarios after an Elliott wave impulse pattern completes

USD/JPY Technical Analysis: 3 Year Pattern Complete?

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2019-06-10 20:43:00

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Posted: 10 Jun 2019 01:31 PM PDT

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[ALERT] Beware: Global Monetary Reset Is Coming

Posted: 10 Jun 2019 12:59 PM PDT

The Best Insurance Policy Against Recession<!–

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Beware: Global Monetary Reset Is Coming

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The signs are all visible…

It has been the longest known bull market in history… 10+ years…

Experts are predicting a recession within the next 12 – 18 months.

When that happens, you know a global monetary reset is bound to happen.

Historically, there is one solid investment that experiences little to no impact during a recession…

On the contrary, it seems to trend upwards, in the opposite direction of all others.

Yes, we’re talking about Gold!

During the last financial crisis in 2007-2009, while the S&P 500 lost more than 50%, Gold actually appreciated more than 20%. Better yet, it was followed by another 90% increase during the following 2.5 years.

We are starting to see similar trends now.

Last November and December, when the markets went through just a minor correction, Gold appreciated 7%. How much more would it have appreciated if there was a major correction?

Since hitting its recent low point in August 2018 last year, Gold has steadily appreciated and gained 10%.

That is the metal’s best start in over 3 years and we believe it will continue to rise in value.

Why?

Because the economic forecasts of an upcoming recession are looking far more realistic now. And Gold is one of the best long term financial insurance policies that you can own.

Today, I want to offer you a way to protect your paper investments from a nearly certain recession and a market crash that some economists are predicting will be catastrophic to say the very least.

Holding Gold in a tax-deferred IRA Account, just as an example.

But before you buy a single ounce of gold, talk to our team and learn more about how physical Gold in an IRA can, not only help you secure your retirement, but also help it to grow for years to come.

Get our free guide to holding Gold in IRA and prepare to beat market recession proactively.

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RISK DISCLOSURE: Purchasing precious metals in bullion, bars, coins, proof coins, numismatic coins involves a HIGH DEGREE OF RISK that should be carefully evaluated prior to investing any funds, for HOME DELIVERY OR RETIREMENT ACCOUNT. American Bullion and its agents are not registered or licensed by any government agencies and are not financial advisors or tax advisors. Past performance is not a guarantee of future results.

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2019-06-10 17:37:19

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6 Chinese Stocks to Sell That Are Suffering From a Digital Ad Slowdown

Posted: 10 Jun 2019 12:54 PM PDT

One of the biggest growth narratives this decade has been the rapid expansion, urbanization and digitization of China's economy. Put simply, China's middle class has rapidly expanded over the past several years. That growing middle class has simultaneously urbanized and digitized, creating a surge in demand for internet services and products, which has propelled China's digital economy to grow by leaps and bounds.

A big part of this China internet growth narrative has been digital advertising. China's digital ad market has fired off 20%-plus growth year after 20%-plus growth year over the past several years, and the digital ad market has grown from a fraction of the total media landscape to account for the lion's share of media ad spend today. In 2018, digital ad spend represented 65% of total media ad spend in China. In the United States, digital ad share is below 50%.

Thus, China's digital ad market has not only grown significantly over the past several years, but it has actually become more dominant than America's digital ad market.

But, at a 65% penetration rate and against the backdrop of economic weakness throughout China, cracks have started to form in China's digital ad market. Cracks may actually be an understatement here. While eMarketer is calling for another 20%-plus growth year in China's digital ad market, many Chinese digital ad players have been reporting flat growth in early 2019.

The result? Multiple Chinese ad stocks have been in sell-off mode.

Is this the end of the Chinese digital ad growth narrative? Which stocks have been impacted? Will they continue to head lower? Let's answer those questions by taking a looking at six Chinese ad stocks to sell after suffering from this slowdown.

Baidu (BIDU)

% Off Highs: 60%

YTD Return: -28%

At the top of this list is one of China's most important and biggest digital ad players, Baidu (NASDAQ:BIDU).

For all intents and purposes, Baidu is the Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) of China, as the company is behind China's most widely used internet search engine and has built a very big digital ad business on top of that search engine. But, that digital ad business has come to a screeching halt over the past few quarters. A year ago, Baidu's online marketing business grew revenues at a 23% year-over-year rate. Last quarter, the online marketing business reported just 3% year-over-year revenue growth.

The slowdown has nothing to do with lower usage. Daily active users of Baidu App rose nearly 30% in the quarter. Instead, the slowdown has everything to do with China's digital ad market slowing as China's economy has likewise slowed over the past several quarters. So long as this broader economic slowdown persists, which it will so long as trade tensions hang around, then China's digital ad market will continue to slow, too, as will Baidu's core advertising business.

To be sure, there are other growth levers here that Baidu can pull and is pulling to keep revenue growth respectable, including smart home, cloud and streaming. But, until the core ad business gets back on track, BIDU stock won't bounce back.

Weibo (WB)

Source: Shutterstock

% Off Highs: 70%

YTD Return: -25%

Once one of China's highest flying digital ad stocks, Weibo (NASDAQ:WB) has since turned into one of China's worst performing U.S. listed stocks.

Much like Baidu is the Alphabet of China, Weibo is the Twitter (NYSE:TWTR) of China. The company operates a micro-blogging social network site that hundreds of millions of Chinese consumers use every day to communicate short messages and sentiment with the public. The Chinese consumer loves the platform. Monthly active users on Weibo have consistently grown at a double-digit pace for the past several years, and the platform now features 465 million monthly active users.

That's a big number. But, the problem here is that Weibo is struggling to fully monetize those 465 million users. A year ago, Weibo's advertising business was growing at a near 80% clip. Last quarter, the ad business grew by just 13%. That's a huge slowdown, and it is largely why WB stock has fallen 70% off its all-time highs over the past several quarters.

Long term, the upside potential in WB stock is compelling here. The company's market cap per user is tiny, and if it can figure out how to monetize its huge user, the stock will head tremendously higher. But, until those ad growth rates turn around, that big recovery rally will be put on hold.

Sohu (SOHU)

% Off Highs: 87%

YTD Return: -22%

Another large Chinese advertiser that has struggled in early 2019 is Sohu (NASDAQ:SOHU).

At a high level, Sohu provides online media, search and game services in China, and makes most of its money through throwing ads on those various services. At one point in time, those digital ad businesses were firing on all cylinders. A year ago, the company's revenue growth rate was 22%, led by search advertising revenue growth of 55%.

That growth has since evaporated. Last quarter, revenues were down 5% year-over-year, as the search ad business decelerated to just 6% year-over-year revenue growth. As the growth rates have come down, so has SOHU stock, which now sits nearly 90% off its all time highs.

The rebound thesis here is less compelling. The digital ad market in China is slowing, and when growth markets slow, the lower hanging fruit tend to be hit the hardest. Some don't make it through the slowdown. Sohu is one of those lower hanging fruits. Thus, the bull thesis here lacks conviction.

Tencent (TCEHY)

Source: Shutterstock

% Off Highs: 33%

YTD Return: 3%

One of China's largest digital advertisers is Tencent (OTCMKTS:TCEHY), and while TCEHY stock has favored better than its digital ad peers lately, the stock has not been immune to the digital ad slowdown.

Tencent is at the epicenter of China's digital economy, operating the company's largest social networks, streaming platforms, online gaming websites and payment apps, among other things. Through its various services, Tencent employs various business models, and generates revenue from various sources. One of those sources is digital advertising. But, the digital ad business isn't a huge component of Tencent. Last quarter, online ads accounted for less than 16% of total revenues.

A year ago, that digital ad business was growing at a 55% rate. Last quarter, it grew at just a 25% rate. That's a big slowdown. But, because the digital ad business is just one piece of the pie at Tencent, the company has been able to better weather that digital ad slowdown than its peers. Further, at 25% growth, Tencent's digital ad business is still doing pretty well.

Overall, TCEHY stock looks like one of the best China ad stocks to buy on weakness. This company's ad business is still growing at an impressive 20%-plus rate, and revenue diversity limits Tencent's exposure to further weakness in the digital ad market.

Bilbili (BILI)

Chinese stocks to sell: Bilbili (BILI)

% Off Highs: 34%

YTD Return: -4%

A smaller yet still important Chinese advertiser that has struggled over the past few quarters is Bilibili (NASDAQ:BILI).

Bilibili operates a hyper-growth video sharing platform in China that has over 100 million monthly active users, and is growing that user base at a robust 30%-plus rate. The company monetizes that platform through mobile games, live broadcasting, and advertising. All three of those businesses are growing at 25%-plus rates, and the company's total revenue growth rate last quarter was just a hair under 60%. Yet, BILI stock is down 4% year-to-date, and currently trades more than 30% off its all time highs.

Why the weakness despite the big growth numbers? Those big growth numbers are less big than they used to be. Over the past four quarters, user growth has dropped from 35% to 31%, and revenue growth has dropped from 105% to 58%. Mobile game revenue growth has dropped from 97% to 27%, and advertising revenue growth has dropped from 144% to 60%.

In other words, a broad growth slowdown has led to a demise in BILI stock. But, this company is still in a class of its own when it comes to growth in China's digital economy, and Bilibili is still rapidly gaining share. Thus, the rebound narrative here actually looks pretty good. So long as this company can maintain strong user and revenue growth rates, near-term weakness will pass and the stock will ultimately head higher.

Alibaba (BABA)

Source: Shutterstock

% Off Highs: 30%

YTD Return: 10%

One of the biggest players in the Chinese digital ad landscape is Alibaba (NYSE:BABA).

Better known for its e-commerce platform, Alibaba nonetheless operates one of the largest digital ad businesses in all of China. Those two businesses, and Alibaba's cloud business, have been holding up nicely against the backdrop of an economic slowdown in China. Alibaba's overall revenue growth rates have largely remained north of 50%.

Still, BABA stock trades nearly 30% off its all-time highs because investors are concerned that, eventually, slowing economic expansion in China will catch up to Alibaba, and that the company's e-commerce, ad and cloud businesses will all slow.

This could happen. But, it's not happening yet, and it is happening almost everywhere else. Thus, Alibaba has shown impressive resilience which, if sustainable, implies that fears related to a growth slowdown here are overstated. If those fears prove to be overstated, BABA stock will bounce back in a big way from recent weakness.

As of this writing, Luke Lango was long GOOG, WB, TWTR, TCEHY and BABA.

June 10, 2019 : EUR/USD Intraday technical analysis and trade recommendations.

Posted: 10 Jun 2019 12:22 PM PDT

Since January 19th, the EURUSD pair has been moving within the depicted channel with slight bearish tendency.

For Intraday traders, the price zone around 1.1235 stood as a temporary demand area which paused the ongoing bearish momentum for a while before bearish breakdown could be executed on April 23.

Short-term outlook turned to become bearish towards 1.1175 (a previous weekly bottom which has been holding prices above for a while)

On the period between May 17th and 20th, a bearish breakdown below 1.1175 was temporarily achieved.

As expected, further bearish decline was expected towards 1.1115 where significant bullish recovery was demonstrated bringing the EURUSD pair back above 1.1175.

Recently, The EURUSD pair has maintained bullish persistence above the highlighted price levels (1.1175) and (1.1235).

That’s why, further bullish advancement was expected towards 1.1320 which failed to apply instant bearish pressure on the EURUSD pair on the previous Friday.

Recent Bullish breakout above 1.1320 renders it a newly-established demand level to be watched for BUY entries when bearish pullback occurs.

Please also note that Bullish persistence above 1.1320 enhances quick bullish advancement towards 1.1420 – 1.1450.

On the other hand, re-closure below 1.1320-1.1300 would probably allow another bearish pullback to occur towards 1.1235 where recent price action should be considered.

Trade recommendations :

A valid BUY entry was suggested around the price levels of (1.1220-1.1235). It’s already running in profits.

Remaining Target levels to be located around 1.1380. Stop loss should be advanced to 1.1280 to secure some profits.

The material has been provided by InstaForex Company – www.instaforex.com
2019-06-10 17:51:34

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5 Quality ETFs to Buy That Qualify for Your Portfolio

Posted: 10 Jun 2019 12:17 PM PDT

Most investment factors are easy to understand. Value stocks are those names perceived to be trading at discounts to the broader market. Growth stocks are those posting superior earnings and revenue increases, while the low volatility factor offers exposure to equities with favorable volatility traits.

When it comes the quality factor, however, there are varying definitions and traits used by investors to assess what constitutes quality.

"It's likely the factor where opinions are most diverse regarding the definition," according to Factor Research. "Broadly speaking there are qualitative and quantitative evaluations and these are often combined in a scoring model. Criteria like management quality or the soundness of strategy are intuitively appealing, but difficult to verify given a lack of data."

While definitions for quality vary, some of the factor's stickier attributes would include companies that are not highly leveraged — or at the very least if they carrying debt, they have strong credit ratings and interest coverage ratios, strong return on assets (ROA) and return on equity (ROE), modest earnings variability, and solid management teams. Penchants for rewarding investors via buybacks and dividends can also be part of the quality assessment.

Investors wanting to integrate quality into their portfolios are in luck because there plenty of dedicated quality ETFs on the market today. Here are some of the best of breed quality ETFs to consider.

iShares Edge MSCI USA Quality Factor ETF (QUAL)

Expense ratio: 0.15% per year, or $15 on a $10,000 investment.

Home to $10.55 billion in assets under management, the iShares Edge MSCI USA Quality Factor ETF (CBOE:QUAL) is the king of dedicated quality ETFs. QUAL, which turns six years old next month, tracks the MSCI USA Sector Neutral Quality Index and holds 125 stocks.

This ETF's approach to quality is straight forward as it targets "stocks exhibiting positive fundamentals (high return on equity, stable year-over-year earnings growth and low financial leverage)," according to iShares.

Like other factor-based strategies, quality ETFs usually are not required to have overweight exposure to a particular sector or sectors. However, some groups often display more quality intensity than others. When it comes to QUAL, this quality ETF allocates almost half its combined weight to the technology, healthcare and financial services sectors.

Quality can also mean lower volatility as highlighted by QUAL's three-year standard deviation of 10.94%, which is lower than the same metric on some other single-factor funds.

JPMorgan U.S. Quality Factor ETF (JQUA)

Source: Shutterstock

Expense ratio: 0.12%

The JPMorgan U.S. Quality Factor ETF (NYSEARCA:JQUA) is another dedicated quality ETF and an inexpensive one at that. With an annual fee of just 0.12%, JQUA is one of the cheapest single-factor funds that is not a value or growth strategy. JQUA uses "a rules-based approach that matches Russell 1000 sector weights and selects stocks based on quality and profitability characteristics," according to JPMorgan Asset Management.

JQUA holds nearly 230 stocks, giving it a deeper bench than the aforementioned QUAL. Perhaps the biggest advantage of this quality ETF is its robust ROE. At the end of April, JQUA's ROE was 28.36%, or nearly 800 basis points above that of the Russell 1000 Index, according to issuer data.

JQUA allocates about 55% of its combined weight to the technology, financial services and consumer discretionary sectors. Year-to-date, this quality ETF is higher by nearly 14%.

SPDR S&P Dividend ETF (SDY)

9 Best Dividend Stocks to Buy for Every Investor

Source: Shutterstock

Expense ratio: 0.35%

As has been widely noted, dividends are integral to well-balanced portfolios and vital to investors' long-term outcomes. Dividends are also one of the premier quality traits, particularly dependable dividend growth. Hence, the SPDR S&P Dividend ETF (NYSEARCA:SDY) merits a place in this discussion of quality ETFs.

SDY, one of the largest domestic dividend ETFs, tracks the S&P High Yield Dividend Aristocrats Index, which requires member firms to have increased payouts for at least 20 consecutive years. Although SDY's components are weighted by yield, this is not a high-yield fund as highlighted by its trailing 12-month dividend yield of 2.37%.

The industrial, financial services and consumer staples sectors combine for almost half of SDY's weight, giving it a different sector profile than the aforementioned quality ETFs. With the business cycle in its late innings, some market observers believe quality ETFs will benefit investors.

"Stretched valuations and slowing growth depict a late cycle environment, but this doesn't mean that investors should abandon equities," said State Street in a recent note. "Focusing on quality stocks with reasonable valuations may mitigate the episodic microbursts of volatility typical of a late-cycle market."

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS)

7 Small-Cap Stocks With Big Growth Potential In 2019

Source: Shutterstock

Expense ratio: 0.38%

Yes, the WisdomTree U.S. SmallCap Quality Dividend Growth Fund (NASDAQ:DGRS) has "quality" in its name, but this fund is a credible quality ETF for more valid reasons. Notably, DGRS' weighting methodology emphasizes ROA and ROE.

Those are important traits with dividend stocks because strong ROA and ROE metrics imply companies not only have the ability to sustain current payouts, but raise those dividends in the future. Using ROA and ROE with small-cap stocks can prove efficacious because many smaller companies take on debt to fuel growth, punishing ROA and ROE along the way.

"We also know that typically companies that have the highest debt burdens are more acutely exposed to a deceleration in the economy," according to WisdomTree.

Not surprisingly, DGRS outpaced the Russell 2000 Index by more than 450 basis points during the 2018 fourth-quarter market swoon. Although DGRS is a dividend growth strategy, its yield is more than double that of the Russell 2000.

Invesco S&P 500 Quality ETF (SPHQ)

Source: Shutterstock

Expense ratio: 0.15%

The Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) is one of the elder statesmen of the quality ETF group having debuted in late 2005. Age usually should not be a deciding factor when it comes to ETFs, but SPHQ's long track record gives investors willing to do some homework an idea of how the fund has performed across multiple market cycles, good and bad.

SPHQ follow the S&P 500 Quality Index. That benchmark is home to 100 S&P 500 members "that have the highest quality score, which is calculated based on three fundamental measures, return on equity, accruals ratio and financial leverage ratio," according to Invesco.

For investors that want to focus on ROE, SPHQ is a quality ETF that makes a lot of sense because its ROE is a stellar 42.70%.

That says something about the technology sector because that group accounts for 41.71% of this quality ETF's weight. Healthcare and consumer discretionary names combine for almost 21% of SPHQ's roster.

Todd Shriber does not own any of the aforementioned securities.

Loonie Breakout Tests USD/CAD Support

Posted: 10 Jun 2019 12:02 PM PDT

The Canadian Dollar has rallied to multi-month highs against the US Dollar with price now testing a key support pivot near the March swing lows. These are the updated targets and invalidation levels that matter on the USD/CAD charts. Review this week's Strategy Webinar for an in-depth breakdown of this setup and more.

New to Forex Trading? Get started with this Free Beginners Guide

USD/CAD Daily Price Chart

Technical Outlook: In my latest Canadian Dollar Price Outlook we noted that the near-term risk was for a larger setback in USD/CAD with a break lower targeting the, "1.3435/37 support pivot- look for a bigger reaction there if reached." A break and retest of this level last week as charged a 2.2% drop with price testing confluence support at 1.3258 into the start of the week. A gap lower into the Sunday open has already filled with price trading just above Fibonacci support.

Resistance stands at 1.3357 with broader bearish invalidation now back at the 1.3435/37 pivot zone. A break lower from here keeps the focus on more significant support at the 61.8% extension / 78.6% retracement at 1.3175/98.

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USD/CAD 120min Price Chart

Notes: A closer look at price action shows Loonie trading within the confines of an descending pitchfork formation extending off the May lows with the upper parallel further highlighting the 6657 resistance zone. The pullback is now testing initial support here at 6620 – a break lower would exposes 6596 backed by 6574 – both areas of interest for possible exhaustion. Bullish invalidation rests with the lower parallel / 61.8% retracement at 6552. A topside breach would keep the focus on subsequent resistance objectives at 6684 and the yearly open / 50% retracement at 6705/12 – look for a bigger reaction there IF reached.

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Bottom line: The USD/CAD breakdown has price testing the first major support pivot and while the broader outlook remains weighted to the downside, we could see some price exhaustion here. From a trading standpoint, a good spot to reduce short-exposure / lower protective stops. Look for price exhaustion into the upper parallels for possible entries with a break of the lows targeting more significant support into the 1.32-handle. Review my last Canadian Dollar Weekly Price Outlook for a longer-term technical picture on USD/CAD.

For a complete breakdown of Michael's trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy

USD/CAD Trader Sentiment

A summary of IG Client Sentiment shows traders are net-long USD/CAD – the ratio stands at +1.23 (55.1% of traders are long) – weak bearish reading
The percentage of traders net-long is now its highest since February 13th
Long positions are 19.6% higher than yesterday and 55.1% higher from last week
Short positions are 2.9% lower than yesterday and 45.0% lower from last week
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USD/CAD prices may continue to fall. Traders are further net-long than yesterday & last week, and the combination of current positioning and recent changes gives us a stronger USD/CAD-bearish contrarian trading bias from a sentiment standpoint.

See how shifts in USD/ CAD retail positioning are impacting trend- Learn more about sentiment!

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– Written by Michael Boutros, Currency Strategist with DailyFX

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Gold Prices Surge to Multi-Month Highs

Posted: 10 Jun 2019 11:50 AM PDT

After lagging year to date, the metal surges higher as Fed actions indicate weak economy.

Thanks to a combination of economic and trade uncertainty, potential weakness in the U.S. dollar, a dovish Fed, and moderate inflation, gold prices have been heading higher in recent weeks.

Gold prices closed last week over $1,340 per ounce, managing to hold their gains during a strong week of stock market performance.

With rising expectations for the Fed to now cut interest rates later in the year, gold prices may rally further on perceived economic weakness.

Gold prices peaked in 2011 over $1,900 per ounce on fears of potential inflation and a quick return to the Great Recession of 2007-2009. When that failed to materialize, prices plummeted. Since early 2016, however, when gold got as low as $1,050, prices have trended higher towards the $1,350 range they are at today.

Action to take: Gold works as a hedge against market fears, political uncertainty, and unexpected bouts of inflation. As such, it always serves a role in any portfolio for diversification and hedging purposes.

Acquiring and storing physical gold has a cost to it above the mere price of the metal, so traders may want to look at the SPDR Gold ETF, GLD, up to $130.00. GLD is designed to track the price of gold, but investors will not have access to the physical metal itself.

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2019-06-10 10:00:43

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7 Flag Day Images to Post on Social Media in 2019 7 Flag Day Images to Post on Social Media in 2019

Posted: 10 Jun 2019 11:41 AM PDT

We have brought you seven Flag Day images in honor of the upcoming unofficial U.S. holiday, which commemorates the day in which we adopted the current flag as the official one of the country.

Every year, Flag Day is celebrated on June 14 due to the fact that we adopted said flag back in June 14, 1777 after the resolution was passed by the Second Continental Congress. In 1916, President Woodrow Wilson made the official declaration that June 14 would be Flag Day from then onwards.

Then, in August of 1946, National Flag Day was established by an Act of Congress. We encourage you to show your love for your flag and country this year by sharing one of these images with your friends, family and other loved ones online.

Happy Flag Day!