U.S. stocks edged up in early trading Wednesday, after Germany's high court cleared the way for the country to participate in a European rescue fund.
The Dow Jones industrial average rose 35 points to 13,361 shortly after 10 a.m.
Germany's highest court ruled Wednesday that the country could contribute to Europe's (EURO)500 billion ($640 billion) rescue fund to help indebted governments. Continue reading "Stocks rise after EU bailout hurdle cleared"
October crude oil was higher overnight and poised to test resistance marked by the 62% retracement level of this year's decline crossing at 98.22. Stochastics and the RSI are bullish hinting that sideways to higher prices are possible near-term. If October renews the rally off June's low, the 75% retracement level of this year's decline crossing at 102.50 is the next upside target. Closes below the reaction low crossing at 93.95 would confirm that a short-term top has been posted while opening the door for additional weakness. First resistance is the 62% retracement level of this year's decline crossing at 98.22. Second resistance is the 75% retracement level of this year's decline crossing at 102.50. First support is the reaction low crossing at 93.95. Second support is the reaction low crossing at 91.97. Continue reading "Morning Energy Market Commentary"
Each week Lo
ngleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.
Weekly Gold Report (September 10 through September 14)
As we begin the last of a three week stretch of policy statements from the United States and Europe, the Precious Metals maintain their upward bias.
December Gold futures rallied to another new high overnight, as traders continue to price in last week’s news from Europe and anticipated bullish news from the US FED this Thursday. Continue reading "Gold Chart of the Week"
To all of the brave men and women that we lost on that fateful day in September....
We Will Never Forget.
What I remember most was the renewed sense of patriotism that followed that day. Nobody cared about religion, politics, or race. We were all focused on doing what needed to be done as Americans to heal our great nation. It was great to see and feel the nation act as one above all else.
All the best,
Jeremy
Anyone who enjoys eating fruit knows there's a fine line between ripe and over-ripe.
If it sits in the fruit bowl too long, over-ripe turns rotten.
As experienced investors know, the stock market goes through similar phases. An overbought, or over-ripe, market can spoil quickly.
Take a look at this chart for example (wave labels removed), and ask yourself, is the stock market on the verge of spoiling? Continue reading "When an Over-Ripe Market is Ready to Spoil"
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