A quick glance at some issues, shows a weakening of some currencies and gold against US Dollar
Canadian Dollar: see how the headline-grabbing parity has so far been the top of the move of this petro (and gold and other stuff) currency
Euro: well they have started filling the headlines with new rounds of worries and stuff
Gold: I view this as a correction
and, of course, S&P futures are weak
1175-1180 cash is my first level. 1168 pivot is after that. This has been a choppy market lately and if it stays like that, tight levels may become traps. A player can hedge or stay out, or give a wider berth to swings
And since everybody and their dog is talking nothing but POMO these days, there is a FED open market operation (bond purchase) on tab for today. What market does as reaction to an action by Fed, or whoever, may be more important than the actual whatever that is done by the whoever.
Have a Nice Morning!
S&P 500 – May 15, 2012 - Bottom Line: Long term trend is up. Mid-term trend is down. Short-term trend is down Weekly S&P stage is Late Advance (2-C) Daily S&P stage is Strong Decli...
1 year ago