Do you want straight talk about the events that are affecting the markets? Do you want to screen out the superfluous noise?
We thought so and we’ve got your back.
Every afternoon the markets are open, Trader Ed will provide a curated selection of the top stories that can affect your trading. No political slant. No agenda. Just the pertinent market news with some much needed humor.
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Is the market ready to blast past the gravitational pull, or will it succumb and fall? We’re looking at 17,000 on the DJIA and 2,000 on the SPX as the outer atmospheric barrier, and, as of this mid-morning, buyers are fueling a push through, but the pull is oh-so strong …
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What’s the latest fret about? Oil is going up and now the breathless media is telling us this is a concern, whereas when it was succumbing to the force of gravity (and it is still way down mind you), the bright lights in the financial world were telling us that oil’s fall was pulling the market down with it . As well, the ECB, the Fed, and China are still newsworthy relative to finding a monster under the bed.
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No matter, the “news” above is from this morning when the market opened to the downside and reasons had to be found for the early demise. Now that the market is settled in, it appears the positive US economic fundamentals (car sales, employment, and GDP revision) from last week are fueling the market’s attempt to break through the upper atmospheric barriers.
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Here is some advice. Forget all the headline stuff in the news, at least as far as understanding the reality of the market. If you follow the breathless media and its persistent pandering to the forces of darkness, your head might explode, as well as your trading bank account. The real news is not the loudest headlines from the biggest news sellers; rather, reality is found underneath the rushing waters in the slower moving currents.
