Global Trading Blog

• 17

  Nov-2011

  Reversal in Last Hour of Trade

  Banks

  
  Dear Subscribers:Before I dwelve into today's market action, I want to highlight an interview I did for the site www.wallstreetwindow.com.  In this interview I discuss the current economic and market conditions, how we got here and what to expect going forward.Watch the interview here: http://www.wallstreetwindow.com/node/4113I uploaded the presentation to the "Educational Material" section of the site. However, you can download the presentation directly by clicking here. Ok back to the markets.Until the last hour of trade we were seeing a by now repetitive pattern in the market.  A weak open due to negative European developments but as the american session ...
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• 17

  Oct-2011

  Macro Data and Earnings Mixed

  Banks

  
  Dear Subscribers: Markets begin the week with a sell off, starting to pull back from short term overbought conditions. Macro data and earnings released today were mixed. Lets remember that 52% of the Market Monitor is overbought short term and any type of dissapointing news or data releases can spark some selling and profit taking.  Today Citigroup and Wells Fargo released their earnings.Citi beat expectations and Wells Fargo increased its profit by 68% but was under Wall Street's analysts concensus. The reaction in the financial sector is negative with the XLF falling over 2%.  Macro data was also mixed with negative bias.  The Empire State ...
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• 14

  Sep-2011

  Retail Sales Dissapoint

  Banks

  
  Dear Subscribers: Yesterday Wall Street closed with a second consecutive day of gains that got halted at it highs twice when the S&P 500 hit its 20 day moving average that is acting as short term resistance.   Volatility has persisted during the Asian &  European session with the S&P futures at one point being off more than 1% and now before the market open they are open near 1% to the upside.  Today's important macro data release, Retail Sales, dissapoints with a flat number (0%) while an increase of 0.2% was expected.  Note that retail sales, at least in nominal terms, are ...
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