1. expect a fibonacci retrace after bouncing from key trendline support
2. Lower lows and lower highs resume
3. weak EU data and sovereign debt fear resurfacing will keep euro under selling pressure
4. weak equity market = risk off and euro will suffer the most
5. pending death cross = 50 MA < 200 MA
6. 1.26 support level inevitable
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By Nicholas Santiago on September 7th, 2010 9:23am Eastern Time
This morning the major stock market indexes are all under pressure ahead of the opening bell. Problems have once again emerged out of Europe and many investors are really wondering if these countries are really out of the woods. As you all know by now when the European Union faces headwinds the U.S. Dollar Index will usually catch a bid higher. That is certainly the case this morning as the U.S. Dollar Index is trading higher by 0.51 cents to $82.56. When the dollar rallies the major stock market indexes will often deflate and decline. Usually, the commodity stocks will decline first and that can be seen this morning ahead of the opening bell.
Freeport McMoRan Copper & Gold Inc.(NYSE:FCX) is trading lower this morning by 0.80 cents to $77.70 a share as the dollar trades higher. United States Steel Corp.(NYSE:X) is another leading commodity stock that is pulling back ahead of the opening bell trading lower by 0.40 cents to $45.59 a share. The United States Oil Fund is also under pressure ahead of the opening bell trading down 0.42 cents to $32.70.
Simply put when the U.S. Dollar Index rallies higher the major stock indexes will usually deflate and trade lower. The opposite is true when the U.S. Dollar Index declines the major stock indexes will inflate and trade higher. Until this inverse relationship with the U.S. Dollar and the stock market unwinds and decouples the dollar is still the centerpiece to every major market move. Now we shall see if the dollar can hold it's early gains after the bell rings at the New York Stock Exchange.
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Obama's mother's employer and the CIAStanley Ann Dunham's employer in Indonesia, the Ford Foundation, had a long-standing relationship with the CIA. While ostensibly working on micro-financing and rural development projects in Indonesia, Dunham's grant paymaster was Peter Geithner, the father of current Treasury Secretary Timothy Geithner.http://www.lewrockwell.com/orig11/madsen1.1.1.htmlRead more…
The day after Labor Day, the Dow has been up 81% of the time since 1994." -- Jeffrey A. Hirsch, editor-in-chief of the Stock Trader's Almanac
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Ms. Dunham married Lolo Soetoro the following year, a man Madsen says assisted in the violent CIA coup against Indonesian President Sukarno that claimed a million lives. Obama’s mother taught English for USAID, “which was a major cover for CIA activities in Indonesia and throughout Southeast Asia,” Madsen reports. That USAID was a cover for CIA covert operations in Laos was admitted by its administrator Dr. John Hannah on Metromedia News. Madsen says the organization was also a cover for the CIA in Indonesia.http://www.lewrockwell.com/orig10/ross-s3.1.1.htmlRead more…
The charts says all I need to say really :) I've already done the my amateur analysis for Ozzie dollar and EU. Check my blog if you want to see those charts.I follow a load of other cross rates, but I'm not sure what you are all trading, so I'll leave the charts there for now.I hope we Swingers have a few more setups this week! Good trading to everyone :)
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Back in the wedge on the daily. Upper TL of wedge acting as res, plus there is intraday res at 81.75.Price never closed below 80 on the weekly, and printed 2 large pin bars.Longs look reasonable I think.
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109.50 remains as res, but potential reversal pattern appearing. short term trading back to 107.70-50 could be possible I think, infact probably the safer bet given the long term downtrend. There is minor congestion to get through.
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