This morning the Euro is catching a sharp bid higher from a very oversold technical condition. The European Central Bank announced that they will start buying bonds from distressed nations. In other words the ECB will be following the Federal Reserve Bank's quantitative easing approach. This news is the catalyst for the large stock market bounce in Europe and the United States this morning. Inflate the markets at all costs is the motto by the central banks around the world. Today the Currencyshares ...
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Taken from our 4/03/09 TSP Talk daily market commentary: The S&P 500 has been on fire lately, breaking through resistance levels lately, but is trading at the upper end of the declining channel. The 200-day moving average is hanging above just waiting to be tagged, but will the index have enough strength to get there during this push? Chart provided courtesy of www.decisionpoint.com, analysis by ETF Talk ...
The market closed modestly higher again on Friday advancing the 4-day rally in the S&P 500 to +11% for the week, and after an awful start, it is now positive in the month of March. Whether you were a bull or bear, you had to realize that sooner or later we'd see a decent rally after what happened during the first 9-weeks of the year, but it still is never easy to make the call. I thought we'd rally in late February and I got eaten up a bit and had to run back for cover. Then, out ...
After Thursday and Friday's big losses, which erased the impressive gains made earlier in the week, the market appears ready to make a move. The problem is it could go either way. We have data that could corroborates either side, the bullish or the bearish. The January jobs report will be released on Friday the 6th, and with estimates at -500K, surprises either way may put the exclamation point on a wild week. Why do I believe it will be wild? For one thing, the wedge ...
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