The September Dollar was lower overnight as it extends the decline below the 75% retracement level of the April-July rally crossing at 80.32. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off July's high, the 87% retracement level of the May-July rally crossing at 79.67 is the next downside target. Closes above the 20-day moving average crossing at 81.48 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 81.00. Second resistance is the 20-day moving average crossing at 81.48. First support is the 87% retracement level of the May-July rally crossing at 79.67. Second support is May's low crossing at 79.02. Continue reading "Morning Currency Commentary"
Category: General
Stocks end lower ahead of Fed meeting
Stocks slipped on Wall Street as troubling economic news from China and the U.S. outweighed optimism about more stimulus from the Federal Reserve.
The Dow Jones industrial average fell 52.35 points to close at 13,254.29 on Monday. The Standard & Poor's 500 slipped 8.84 points to 1,429.08 and the Nasdaq composite fell 32.40 points to 3,104.02.
The stumble marks a pause in a rally last week that took the Dow and the S&P 500 to their highest levels in more than four years.
Stock markets rose around the world last week after the European Central Bank announced a long-anticipated plan to support struggling countries in the European Union. Continue reading "Stocks end lower ahead of Fed meeting"
Poll: Looking for a quick fix for the economy?
There maybe no quick fix ...
To illustrate this point, a friend of mine recently sent me a chart which I would like to share with you. This charts shows that we may be going into a prolonged period of no growth in the overall stock market. The NASDAQ peaked at 5,132.52 on March 10th, 2000. The NASDAQ market is in many ways more important than the DOW, and should be considered more of a leading indicator. If that is truly the case, then we have been in a bear market for the last eight years.
Trading throughout the balance of this decade is going to be the key to survival and for recovering the profits in your portfolio. We strongly recommend that you approach these markets with some level of expertise and knowledge of technical trading.
The future is going to be the future and we need to take advantage of every moment and prepare ourselves to be the very best we can be in whatever business or endeavor we are pursuing.
Let us know what you think?
Loading ...Every success in the future,
Adam Hewison
President, INO.com
Co-creator, MarketClub
Invest in What China Needs to Buy: Don Coxe
The US is no longer the safest place in the world to invest, says Don Coxe, a strategic advisor to the BMO Financial Group. While US-based companies are forced to wade through red tape and legal challenges, relatively lax regulation in emerging economies created stiff competition. In this exclusive interview with The Energy Report, Coxe explains how investors should position themselves as China and India rise to superpower status.
The Energy Report: You are famous for taking the long view of the political economy, Don. What does the machinery of history tell us about the likely future of the Western world as measured against the newly industrializing economies, including China, India, and Brazil?
Don Coxe: For the first 17 centuries of the so-called Christian Era, China and India together generated about 40-50% of global gross domestic product (GDP), due to the sheer size of their populations. But when they did not participate in the Industrial Revolution, the relatively small number of people living in Europe and North America were able to take over 70% of global GDP. The East stagnated. Continue reading "Invest in What China Needs to Buy: Don Coxe"
Monday Morning Index Commentary
The September NASDAQ 100 was lower due to profit taking overnight as it consolidates some of the rally off June's low. Stochastics and the RSI are diverging but remain bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off July's low, monthly resistance crossing at 2847.00 is the next upside target. Closes below last Tuesday's low crossing at 2742.75 would confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 2836.25. Second resistance is monthly resistance crossing at 2847.00. First support is the 20-day moving average crossing at 2774.08. Second support is last Tuesday's low crossing at 2742.75. Continue reading "Monday Morning Index Commentary"
