Global Trading Blog

• 27

  Mar-2012

  Concerning Trend in Macro Data

  Cycle

  
  Macro data for the day is out and it wasn't very encouraging.It dissapointed and we are starting to see a negative trend in the US macro data, with most releases coming below expecations. Home prices fell 3.8% to reach new post housing bubble lows. Richmond Manufactoring Index posted a big miss with a reading of 7 with expectations of 18. New orders and shipments dropped hard. CB Consumer Confidence came in a bit lower than expectations and is finding "resistance" near the February 2011 highs. My concern from macro data is not from today's releases but because a trend is ...
  Read More »

• 06

  Nov-2011

  Up Trend Remains in Place

  Cycle

  
  The market uptrend that started in early October, after the markets reached a deeply oversold condition, continues into November despite a complicated political and fiscal situation in Europe and with the US economy facing sluggish growth & double dip recession fears.Developed economies are striving to "kick the can" as much as they can to avoid a massive develeraging that would stunt growth and raise unemployment for a long time. As I highlighted last week, the powerful bounce that lead to a historic rally in October made most world markets reach extreme short term overbought conditions. Last week almost 90% of ...
  Read More »

• 19

  Oct-2011

  Market Remains in Congestion

  Cycle

  
  Dear Subscribers: The market is stalling near the highs of the month that coincide with those of August and September. After the potent rebound that started early this month, it is normal that these previous highs offer technical resistance and traders decide to take profits or short expecting the downtrend to resume.  Breaking these levels we will probably reach 1260 which are the lows and support of March and June corrections. Also the 150 day Moving Average lies there and will probably act as a magnet in further upside.  I expect the market to reach these levels sooner or later.    Technically the market ...
  Read More »