Stocks are recovering after breaking through recent lows earlier in the session.The Chicago NAPM was a bit stock friendly, but Monday’s national NAPM is much more important. March S&P:750 is key resistance for the rest...
Read MoreThere was a huge downward revision to Q4 GDP, which added to already bearish sentiment.The Citi news and concerns about treatment of health care in Obama’s budget proposal are culprits.It’s the last trading day of...
Read MoreI don’t know if they watched the market today, but BNY Mellon says to buy gold (in their defense, they say the real rally will come later this year), You can read about it here. This fits well with Harvard Economic...
Read MoreStocks started out with good gains off news that the UK will take steps to stabilize their banking system. Gains have faded however-US economic new was weak, the federal budget increases the deficit and raises some taxes, and...
Read MorePrecious metals futures were at a critical juncture yesterday.Gold had tested support at $950, and left a doji. May Silver closed on important support at 13.93; it also was a doji day yesterday, and yesterday’s range was...
Read MoreJobless claims rose more than expected, durable goods orders fell.New home sales are out at 9 AM Central. Overseas stocks were higher; Britain is taking steps to shore up its banks. March S&P:Bullish momentum, 779.50 was...
Read MoreThings looked great for gold at the ned of last week, closing over $1000 for the second time in seven months. The picture became a lot more clouded this week, however. Let’s look closer. Looking over the past days,...
Read MoreThe other day I wrote a post about how identifying chart patterns with the potential for breakout moves could be beneficial to traders.(You can read that post here) This raises the obvious question, what are the patterns to look...
Read MoreThere were a number of good breakout trades this morning-I caught a few, missed a few.Stocks saw some good short covering, but it appears to have faded for the time being. March S&P:An intraday rally took Spoos to nearly...
Read MoreObama’s speech last night was good in the sense that he’s a good orator.On the other hand, he was short on details, as has been the case with his administration on things financial. He did sound a note of optimism at...
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