All Posts (10732)
Sort by
If Ireland rejects the pact, they will not be able to access ESM funding. The results should be released shortly after the polls close at 5pm ET or 21 GMT.
Most of the major currencies are trading higher against the U.S. dollar this morning which suggests that investors have finally reached their pain threshold.
May private-sector jobs rise 133K: ADP
U.S. weekly jobless claims jump to 383,000
Japan’s Nikkei Stock Average JP:100000018 -1.35% gave up 1.6%, while South Korea’s KospiKR:SEU -0.82% and Hong Kong’s Hang Seng Index HK:HSI -0.85% dropped 1.3% each.
Australia’s S&P/ASX 200 index AU:XJO -0.62% lost 0.8%, and China’s Shanghai CompositeCN:000001 -0.39% shed 0.5%.
http://www.marketwatch.com/story/asia-stocks-tumble-with-weak-euro-hitting-tokyo-2012-05-30
At this point, there is no major support in the pair until the June 2010 low of 1.2150 which means we could see another 200 pip move lower in the pair before there are any sign of stabilization. Ongoing concerns about Spain and Greece continue to drive currencies and equities lower.
http://www.fx360.com/commentary/kathy/7657/how-much-further-can-eur-fall.aspx
Facebook Inc(NASDAQ:FB) fell to $28.00 a share in late trading. This represents a $10.00 (-26%) discount to what investors paid for the stock prior to it going public. At this level, buyers will be begin to nibble. In addition, there is a three bar surge on the chart which should signal a bounce. Downside is $25.00. while upside is $35.00. Reward to owning Facebook is finally looking better in comparison to risk.
Take the seven day free trial to the Research Center. Join the elite pros as they give swing trades and proprietary guidance. Profit on every up and down move in the markets. Join the free trial and see what all the buzz and profits are about.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
The market is showing positive divergences in two major areas. These areas signal stimulus and possible bank recapitalization from the European Union and the ECB. Ultimately, the markets are signaling something big on the horizon that could cause the market to pop sharply in the short run. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $131.96 -1.74 (-1.30%).
The first positive divergence has occurred between the S&P 500 and the Dollar. These usually trade inverse to each other but lately, the Dollar has soared to new 2012 highs, but the market has not made new lows. This signals a coming market push. The PowerShares DB US Dollar Index Bullish (NYSEARCA:UUP) 22.92 +0.12 (0.53%).
The first positive divergence has occurred between the S&P 500 and the Dollar. These usually trade inverse to each other but lately, the Dollar has soared to new 2012 highs, but the market has not made new lows. This signals a coming market push. The PowerShares DB US Dollar Index Bullish (NYSEARCA:UUP) 22.92 +0.12 (0.53%).
The second divergence is happening today. Gold opened sharply lower and has rallied back to the flat line. This is extremely unusual with the Dollar higher on the day and the markets lower. This tells us of stimulus on the horizon in Europe. The SPDR Gold Trust (ETF) (NYSEARCA:GLD) hit of low of $148.61 but is now trading at $151.31, +0.29 (0.19%). This is a huge reversal and speaks to a big factor coming on the horizon.
Ultimately, things are pointing to an announcement in the next week of bank bailouts in Europe and possible stimulus. This would cause a sharp 300 plus point rally in the Dow Jones Industrial Average.
Take the seven day free trial to the Research Center and Intra Day Stock Chat. Join the elite pros as they give you swing trades and proprietary analysis. This is an elite group of the best trained traders and investors in the world. Join now and become a pro.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
As the markets move inverse to the Dollar, key levels of resistance on the Dollar become extremely important. The PowerShares DB US Dollar Index Bullish (NYSEARCA:UUP) is trading at $22.84, +0.02 (0.09%) and into a major double top from January 2012. This level should cause the Dollar to stop moving higher in the short term and even pull back. This will allow the market to have a little reprieve and bounce into the end of the week and maybe even into next week. However, should the Dollar break through this resistance point, all bets are off for the market. This market is on the edge of the cliff. Will it fall?
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
Facebook Inc (NASDAQ:FB) continues to fall sharply, trading at $29.19, -2.72 (-8.52%). As most investors panic and run for the exit, smart traders and investors are eyeing it for a buy. The key here is to recognize the insane hype leading into the IPO and now the nutty hype on the bearish side. When this indicator reaches a maximum, a reversal takes place. Right now, Facebook is nearing its maximum level of negative hype. The buy level I am seeing is at $28.00 At that level, downside risk is to $25.00 while upside reward takes you back to $35.00. In addition, buyers would be able to enter Facebook for a $10 discount to what investors paid prior to its launch. The average investor is dumping in a panic, that means I am beginning to lick my lips, standing ready to accumulate.
Take the seven day free trial to the Research Center and Intra Day Stock Chat. Get the latest swing trade alerts and proprietary market guidance. Become part of the elite community, profiting on every market swing.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
