Weekly Futures Recap w/Michael Seery

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We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

 Currency Futures--- Currency markets today are trading mixed with the Euro currency breaking down 80 points currently trading at 1.2860 causing the U.S dollar to rally sharply by 46 points hitting a fresh six-week high currently trading at 80.56 right near session highs after the Labor Department released the monthly unemployment figures which added 171, 000 new jobs for the month of October with an unemployment rate 7.9%. The Canadian dollar which is been very weak in recent weeks is actually higher today by 25 points trading at 1.0052 and in my opinion is still in a bear market and I do believe will head lower from these levels while the Mexican peso which I have been bearish and wrong so far is up another 50 points 7690 following the U.S stock market today. The Japanese yen has hit a new six-month low down another 70 points at 1.24 with the next major support all the way down to the 120 level still 400 points away and in my opinion I believe that this bear market will continue. The Australian dollar is higher for the 4th consecutive trading session at 1.0357 at a fresh five week high now looking at possibly making new contract highs which were hit mid-September right around 1.0550. TREND: U.S DOLLAR—HIGHER---CHART STRUCTURE: EXCELLENT Continue reading "Weekly Futures Recap w/Michael Seery" →

Is the Glass Half Full or Half Empty?

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Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 2nd of November.

This past week has been one of the most extraordinary weeks that I can remember. The markets were closed for two days and we had a historic storm cause significant destruction in New Jersey, New York, and much of the east coast. Today, BLS released the unemployment numbers showing that unemployment stands at 7.9%, which begs the question is the glass half full or half empty? You could argue both ways... Is employment improving? Or has it not improved in 4 years?

This is the last weekend that both Pres. Obama and Gov. Romney have to convince an already exhausted population to buy into their vision of the future for America. I think we are all exhausted by both candidates and the endless bickering, which is not helping the economy or the jobs picture.

Personally, I think campaigning for office should be no longer than 3 to 6 months and not several years. These two gentlemen have spent a billion dollars each on their campaigns, what a waste of money and resources. Continue reading "Is the Glass Half Full or Half Empty?" →

Poll: U.S. economy adds 171K jobs, but the unemployment rate rises

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Which candidate will add more jobs in the next 4 years?

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U.S. employers added 171,000 jobs in October, and hiring was stronger in August and September than first thought. The solid job growth showed that the economy is strengthening slowly but consistently.

The unemployment rate rose to 7.9 percent from 7.8 percent in September, mainly because more people began looking for work. The government uses a separate survey to calculate the unemployment rate, and it counts people without jobs as unemployed only if they're looking for one.

Friday's report was the last major snapshot of the economy before Tuesday's elections. It's unclear what political effect the report might have. By now, all but a few voters have made up their minds, particularly about the economy, analysts say.

Since July, the economy has created an average of 173,000 jobs a month. That's up from 67,000 a month from April through June. Still, President Barack Obama will face voters with the highest unemployment rate of any incumbent since Franklin Roosevelt.

Please leave a comment below with your thoughts.

Every Success,
Jeremy

U.S. Stocks On a Collision Course with Market History

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The past offers answers about the future; market patterns do repeat themselves

By Elliott Wave International

Next time you look at a clear night sky, keep in mind that what you see is the distant past.

Most stars are so distant that it takes millions of years before the light is visible to us.

Even so, astronomers can learn much about the future of the universe by studying the past.

NASA astronomers announced they can now predict with certainty the next major cosmic event to affect our galaxy, Sun, and solar system: the titanic collision of our Milky Way galaxy with the neighboring Andromeda galaxy.

NASA, May 31, 2012 Continue reading "U.S. Stocks On a Collision Course with Market History" →

November starts off strong

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It's only been a day, but November on Wall Street is already looking a lot better than October.

Strong economic data and corporate news converged Thursday to give U.S. stocks their best day since mid-September. Positive signs about the job market and soaring sales figures pushed stock futures up before the market opened. A half-hour into trading, reports on manufacturing and consumer confidence added another log to the fire.

The Dow Jones industrial average had already risen 100 points when the mid-morning reports came out. The data _ including news that manufacturing grew for the second straight month _ pushed it up as much as 177 points. It fell back some, but held a steady gain for the rest of the day.

The Dow closed up 136.16 points, or 1 percent, to close at 13,232.62. It was the best day for the Dow since Sept. 13. Continue reading "November starts off strong" →