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When the Federal Reserve last met, Bernanke made it clear that the central bank is not ready to make any rash decisions about monetary policy. Quantitative Easing is still on the table but only if the labor market continues to weaken and Europe's sovereign debt crisis worsens. However neither has happened over the past 2 weeks and in fact, there have been signs of stabilization.
At this point the central bank is focused on employment and Europe. For a third round of Quantitative Easing to happen, Europe would need to spiral out of control or the U.S. unemployment rate would need to rise back above 9%.
Presented by Gareth Soloway August 13, 2012 11:45AM
Google Inc (NASDAQ:GOOG) has moved solidly into its first key resistance level on the daily chart. This level was $653.00 and can be seen in the chart below. The next two major levels are $659.00 and $670.00. The double top at $670.00 is a great shorting level should it be hit. The S&P 500 is setting up for a decline and could give forth plenty of profits to those that know how to trade it.
Get swing trade alerts and proprietary trading secrets by taking the seven day free trial to the Research Center. Join the elite pros as they swing trade the markets and profit on every move.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
Get swing trade alerts and proprietary trading secrets by taking the seven day free trial to the Research Center. Join the elite pros as they swing trade the markets and profit on every move.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
