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Weak

Daily Video Update: Spain Looks to Secure Bailout

Hello traders everywhere! Jeremy Lutz here with your mid-day market update for Friday, the 21st of September.

Stocks have continued to perform well over the course of the trading day today. While buying interest has remained relatively subdued, the markets continue to benefit from news out of Europe.

That news of course is that European Union officials are working behind the scenes to pave the way for a new Spanish rescue program and unlimited bond buying by the European Central Bank. Will this actually happen? Or is just a another smoke screen coming out of Europe?

Crude Oil is continuing to struggle and I noticed a powerful technical indicator in Gold today that we'll discuss.

Now, let’s go to the charts and our Trade Triangles and see what’s happening. Click Here to view today's video

Every Success,
Jeremy Lutz

Comments

  1. JDBerlin says:

    Before the Euro fiat currency, the Spanish, Greek and other peripherals bought what they could afford and paid for what they consumed with hardwork and cash. Happiness reigned and families worshiped what is most important. Along came the consumerism media, cheap long-term credit debt of those manufacturing these soon faded status dreams, and today's naive debt slaves fell into the trap of 'thing' worship by building or making this status crap with their labor and being loaned more fiat currency to buy it back at a much higher price--it was made so easy. Now the elites swoop in with further fiat printing to steal the real wealth which means their land and soverignty.

  2. greg b says:

    I lived in Spain before the European community was established and Spain was a great place to live and everyone were happy. Now it is a place of despair and the people should rise up and leave the community for a better way eliminating the control of Brussels which is destroying the culture and the economy.

    • Paul says:

      Greg,
      I was tourist in Spain and Greek holiday resorts before EURO and after EURO.
      In both countries the people were more happy before EURO.
      Soon as joining the EURO prices doubled over night.
      If the people were given the right to vote across Europe I think they would want their countries back.
      But it is a gravy train for politicians and why they are making money the working man will suffer.

  3. Steve Starr says:

    Like the dollar, we can count on the unlimited creation of Euros to bail out insolvent and illiquid big banks. It will and is actually happening, but it will only postpone and magnify the inevitable consequences.

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