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Markets Panic On Jobs Data (NYSE:SPY) (NYSE:DIA) (NYSE:QQQ)

Posted by Aadil on June 2, 2011 at 12:13am
The markets dropped sharply this morning on the back of the ADP Private Sector Employment numbers. Analysts had expected a solid 190,000 private sector jobs to have been created last month. The number reported today at 8:15pm ET was a meager 38,000. The futures had been slightly higher prior to this number, looking to build on a multi-day rally. However, once the number hit the markets, the futures sold. The selling continued once the markets opened as investors ran for cover. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $133.59, -1.31 (-0.97%), the SPDR Dow Jones Industrial Average ETF (NYSE:DIA) is at $124.05, -1.45 (-1.16%), while the PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) is at $57.88, -0.48 (-0.82%). Take the seven day free trial of theResearch Center to get all the key levels, trades and proprietary techniques of the pros. Click here.

The fear striking the markets on the back of the ugly economic data is valid when looking at the big picture. The Federal Reserve's QE2 policy is coming to a close in June and job creating is still pathetic. The unemployment rate is stuck around 9% and housing is now in a double dip. It appears as if all the printing of money the Federal Reserve has done has had little effect on bringing the economy out of the doldrums.  When QE2 actually ends, it is very possible things will start getting much worse again. Where is the money going? Be the first in the trade by joining the Research Center. Click here to take the seven day free trial.

Gareth Soloway
Chief Marekt Strategist
www.InTheMoneyStocks.com
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Master Analysis: Stock Markets Tumble (NYSE:SPY) (NYSE:UUP) (NYSE:JPM) (NASDAQ:AAPL) (NASDAQ:GOOG)

Posted by Aadil on June 2, 2011 at 12:12am
The markets continued their big drop into the lunch hour with the SPDR S&P 500 ETF (NYSE:SPY) hitting a low of $132.85. This fall was mainly due to panic over the ADP Private Sector Employment numbers which came in sharply lower than estimates. In addition, the ISM Index for May came in at 53.5%. Expectations were for a number upwards of 57%. This just continues the string of negative economic news the markets have received over the past couple months. Investors are seeing a pattern and realizing the economic picture is a lot darker than thought. The sellers are out in force today even with a weaker Dollar. The PowerShares DB US Dollar Index Bullish (NYSE:UUP) $21.31, -0.03 (-0.14%).  Even with the small drop in the U.S. Dollar index, the markets are still sharply lower as they are paying far more attention to economic news. Usually, the markets will move inverse to the Dollar. Chief Market Strategist continue to call every top and bottom in this market. Take the seven day free trial of the Research Center now.

Financial stocks are leading the decline with JPMorgan Chase & Co. (NYSE:JPM) trading at $42.03, -1.21 (-2.80%). The banks have been the weakest of late and it is not surprising to see them dropping further today in a down market. The strongest stocks can be found in the technology sector with Apple Inc. (NASDAQ:AAPL) and Google Inc. (NASDAQ:GOOG) both positive on the day. Click here for a free trial that will change your life forever.

The markets are near an inflection point. While still trading near their 52 week highs, there seems to be a realization starting that the recovery will not go on forever and things will not return to their 2007 levels. Ultimately there is far more downside in the markets than up and it appears the institutions are starting to unload over the last few weeks.  Play this market on the safe side. Cash may be king for a while as the Dollar has made a bottom in the short term. To get the next cycle date in the markets, take the seven day free trial to the Research Center.

Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
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Market Bloodbath, Imagine If The U.S. Dollar Index Was Higher (NYSE:NBG) (NYSE:STD) (NYSE:FXE) (NYSE:EWP)

Posted by Aadil on June 2, 2011 at 12:12am
This afternoon, the major stock market indexes are getting pummeled. The Dow Jones Industrial Average is trading lower by more that 225.0 points in a broad based decline. Traders and investors are selling everything this afternoon as the European debt crisis seems to be getting worse by the minute. All of the U.S. economic data was also very poor today which is certainly adding fuel to the sell off. The Federal Reserve Bank's quantitative easing program is also scheduled to end later this month. Many investors are now wondering who is going to prop the stock markets up? 

The U.S. Dollar Index has caught a sharp bid higher after starting the day in negative territory. The U.S. Dollar Index is now trading higher by 0.06 cents to $74.70 per contract. The low this morning for the U.S. Dollar Index was $74.34 around 11:00 am EST. This is certainly a major move higher for the U.S. Dollar Index intra-day. As we all know by now, when the U.S. Dollar Index trades higher the major stock indexes will deflate and trade lower. We can only imagine how low the major stock indexes would be down if the U.S. Dollar Index was trading higher?

Greece and other nations in the European Union continue to face major debt problems. After all, Greece received a bailout just one year ago by the European Union and the International Monetary Fund. They are already in need of restructuring. We can only wonder if Portugal, and Ireland, will need to be restructured as well. What is going to happen to Spain, Italy, and other nations that have not received an official bailout yet? These problems are not going to disappear anytime soon. 

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Elliott Wave suggests more upside to come

Posted by Justyn on May 31, 2011 at 8:24pm

8118296856?profile=originalMy Elliott Wave analysis of the Dow suggests there is more upside to come. Todays action mave have seen a pullback from the end of wave 3 up followed by the start of wave 5 up. An even worse case scenario is that this is an extended wave 3 which is quite likely and we haven't reached wave 5 up yet. I personally WOULD NOT try shorting this market at the moment.

 

Here is a 60 min chart of the Dow (sorry if the charts are not great, they work for me but can appear cluttered):

 

8118297053?profile=originalIt looks very much like a BIG BULL FLAG which has broken upwards, pulled back to the line and started to motor north again.

 

Todays Nasdaq chart:

 

8118296494?profile=originalThe rally at the end of the day cut through three previous strong support/resistance lines like a knife through butter. 43 points up on the Nasdaq in one day? That's one strong rally!

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Financial Stocks Continue To Struggle (NYSE:XLF) (NYSE:WFC) (NYSE:C) (NYSE:BAC)

Posted by Aadil on May 27, 2011 at 5:11am
Most of the leading financial Stocks have been under pressure since the beginning of May. This leading sector is now starting to get extended on the downside and could be due for a short term bounce in the coming days. It is important to note that most of the leading financial stocks are trading below the daily chart 50 moving average and this puts this sector in a weak technical position, therefore, all bounces are just short term reactions in the sector until that important 50 period moving average is recaptured. 

J.P. Morgan Chase & Co.(NYSE:JPM) is the leading financial stock in the market. This leading financial stock has sold off sharply since early April 2011. The daily chart is showing some short term daily support around these current levels. The stock looks to have near term intra-day support around $42.00 and $41.70 levels. 

Bank of America Corp.(NYSE:BAC) is a leading financial stock that has struggled since January 14, 2011 when it topped out at $15.31 a share. This stock is now trading below all of the major daily chart moving averages which put the stock in a weak technical position. This morning, BAC stock, is trading higher by 0.09 cents to $11.47 a share. The stock looks to have intra-day resistance around the $11.55 level. Should BAC stock start to decline intra-day, traders can watch for intra-day support around the $11.35 area and more around the $11.20 area. 

Wells Fargo & Co.(NYSE:WFC) is another leading financial stock that has struggled for most of 2011. This financial giant is trading below all of its major moving averages on the daily chart which put this stock in a weak technical position. In other words, the trend on this stock is down. Traders can watch for intra-day support on this stock around the $27.35 area and more around the $27.00 level. 

Citigroup Inc.(NYSE:C) is a leading financial stock that topped out on January 14, 2011. This stock has declined by more than 20.0 percent since that high pivot point. This stock is also trading below all of the major moving averages, which put the stock in a downtrend and a weak position on the charts. Recently, the stock had a ten for one reverse split and it has been declining ever since that time. Intra-day the stock will have support around the $39.80 and $39.40 levels.
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Holiday Float Begins: How To Profit (NYSE:SPY) (NYSE:UUP) (NASDAQ:MSFT)

Posted by Aadil on May 27, 2011 at 5:11am
The markets are heading slowly north as predicted in my article yesterday. Feel free to view it here. This is classic pre-holiday action caused by the Federal Reserve and their POMO, along with light volume and an overbought Dollar short term. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $132.88, +0.49 (+0.37%) while the PowerShares DB US Dollar Index Bullish (NYSE:UUP) has fallen to $21.63, -0.08 (-0.37%).

The Federal Reserve and the powers trying to help a recovery have a vested interest in having the markets move higher into a holiday weekend. Remember, consumer spending is still the major driving force behind any recovery. Should the market tank into a three day holiday weekend like this, would anyone really be spending that extra money? More likely than not, a large drop into a holiday weekend would make the average American think twice about rushing out to those stores in search of great Memorial Day sales. To get specific trade alerts and to make money in the markets today, take the seven day free trial to the Research Center. Click here.

In addition, as Wall Street traders head out today and tomorrow for the holiday weekend, the markets remain open. This means that the volume remaining will be exceptionally light. Based on human psychology, the markets will naturally float neutral to higher. The psychological aspects of this delve into human nature and the way the we naturally have a positive outlook on life. With institutions gone, the retail investor is the main participant in the markets. Their outlook is to buy. In fact, most retail investors have never shorted the market. This yields the neutral to upside bias on light volume. To become a pro, take the seven day free trial to the Research Center.

Lastly, the Dollar has surged in recent weeks, heading into a resistance area. The odds based on the extension move in the Dollar, favor a pull back. It is very important to recognize that the markets trade in the opposite direction of the Dollar. Therefore, a fall in the Dollar should help the markets trade to the upside. Master the markets by joining the growing elite group inside the Research Center. Click here for a seven day free trial.

The leaders today are clearly technology related with the Nasdaq pushing higher. Microsoft Corporation (NASDAQ:MSFT) is having a fantastic day, trading at $24.80, +0.61 (+2.52%). The weakest stocks continue to be the financial firms, barely squeaking out a gain today. This is one of the only sectors to be near or at their 52 week lows. Continued worry about regulation, lawsuits and more have hampered these stocks for months.

Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
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Debt Ceiling Breached, Does Anyone Care?

Posted by Aadil on May 27, 2011 at 5:09am
The United States of America in now drowned in debt by $14.39 trillion. This debt, is obviously at an all time high for the country. The politicians from both parties seem to only care about winning elections and really do as little as possible to solve the problem of a debt burdened America. The current debt ceiling which is the legal limit that the country can borrow has been reached yet the U.S. Treasury continues to borrow more money, even this very week. President Obama asked Congress for another $2 trillion in order to keep the government running as usual. Now lets be fair here, the debt ceiling has been raised by nearly every president on numerous occasions regardless of the political party. When I was watching the popular television program, Freedom Watch with Judge Napolitano, it was reported that the debt ceiling has been raised 70 times already. This is a rather fascinating number when you think about it. What is the point of having a debt ceiling when it can be raised at anytime? 

We certainly live in a debt built society. The country and the world as we know it has been built on debt. The value of the U.S. Dollar is certainly not what it was years ago. This is due to the fact that inflation has inflated everything from homes, government, business, and the ultimately the money supply. My dad talks about going to a movie for 0.25 cents when he was kid. Today, a movie costs around $15.00 a ticket. My parents bought their first home for $27,000, today that same home sells for around $300,000. Has the value really gone up that much? Of course not, it increased in price because of inflation. Have we now reached a point in society where the inflation building has come to an end? Everyone knows that when you blow up a balloon the air will eventually leak out and deflate. Are we now at that phase of the economy?

At this time the stock market seems to only care about the falling U.S. Dollar Index. When the U.S. Dollar Index declines, the major stock indexes seem to inflate and trade higher. The opposite effect occurs when the U.S. Dollar Indexes trades higher, the major stock indexes will deflate and trade lower. Currency prices are dictating every move in the stock market right now. This is not sound money, and most politicians are either afraid, or just too dumb to address this problem. For crying out load, President Obama assigned a gasoline task force to find out why gasoline prices were climbing on a daily basis. Are you telling me that he could not figure out that gasoline was climbing for the same reason every other commodity was climbing, because the U.S. Dollar Index was falling! You see, politicians, like many on Wall Street, like to play dumb when things are not going so well. To my knowledge, there only seems to be one politician out there that has told the truth for years and his voting record is there to prove it, it is Congressman Ron Paul (R-Texas). This man has talked about the failed economic policies of the United States for years now and nobody wants to hear it. Congressman Paul has talked repeatedly about going back to a gold standard. This may not happen for many years, however, it is the only way that a new global economy can survive. 

The days of printing money are coming to an end in my humble opinion. The fiat system was great for many years, however, it is no longer sustainable due to the debt that has been accumulated. I suppose it will have a few more years left before it finally ends. The U.S. Dollar can gets tossed around like a yo-yo by the central banks for a few more years to keep this ship sailing. Traders and investors should probably watch for a major gold and precious metals correction sometime this year. This is when the smart money will load the boat with the precious metal as the world moves closer to the gold standard in the coming years. 

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