In the last two days we witnessed profit taking and institutional selling, Please pay attention to 1050-1040 if S&P500 breaks these levels you should be very concern, and go to cash.
If this rally wants to continue S&P500 must move above 1066 . As you know NASDAQ is the leader in this rally it has failed to stay above 2155. If you take a look at NASDAQ chart you will see 2155 acted as major support back in July and March of 2008. As I anticipated 2155 should be the top. It becomes major resistance " NASDAQ Forecast End-month Update (Aug) ".You should keep an eye on 2155 if bulls have any steam left they must push the NASDAQ above 2155.
Please note My forecast in regard of the U.S. dollar hitting the bottom seems to become reality " U.S. Dollar Technical Analysis (Part 5) ". If dollar start to move higher we should see a huge short-squeeze in dollar, and sharp drop in equity market. Pay attention to 77.11-77.20 as possible resistance for dollar.
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I do my best not to use complex economics terms and make this blog useful for everyone in any level of investment. The main focus will be on technical analysis, but macroeconomics & microeconomics will be covered as well.
If you recently become my reader, I highly recommend reading "Popular Articles". Just scroll down, you can find it in this column.
If you recently become my reader, I highly recommend reading "Popular Articles". Just scroll down, you can find it in this column.
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2009
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Sep
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- Pay Attention To 1066
- NASDAQ Forecast End-month Updare (Sep)
- U.S. Dollar Technical Analysis (Part-7)
- Some Thoughts On Recent Market Move
- Retails At Major Resistance
- U.S. Dollar Made A New Low After Hours
- S&P500 Short Term Supports/Resistances (09/22/09)
- LIBOR OIS 3M (USD) 09/21
- The U.S. Futures Market
- Marco Dion on the U.S. rally
- Hundreds of thousands of iranian protesters came t...
- Avoiding the Traps
- Weekly New Jobless Claims (Sep,17th)
- U.S. Dollar Technical Analysis (Part 5)
- 1066 Key Level For S&P500
- Retail Sales
- CNBC Interview With Roubini
- Green Shoots Of Economic Revival!
- S&P500 Resistances & Supports (Sep 14nd)
- Copper Technical Analysis
- 4 Major Resistances In S&P500
- The U.S. trade deficit
- New Weekly Jobless Claims (Sep,10th,2009)
- Why Can't Federal Reserve Bank Stop Deflation ?
- S&P500 Possible Moves In September 2009
- Home Builders Technical Analysis
- Employed and unemployed persons by occupation, not...
- LIBOR USD 3M
- Ted Spread Chart (Sep 2nd)
- S&P500 Resistances & Supports (Sep 2nd)
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Sep
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Popular Articles
- Option ARMs Tsunami Is On The Way http://the-us-microeconomics.blogspot.com/2009/08/option-arm-tsunami-is-on-way.html
- QE2 positive and negative effects on the economy http://the-us-microeconomics.blogspot.com/2010/11/qe2-positive-and-negative-effects-on.html
- Japan Started The Second Rounds Of Quantitative easing http://the-us-microeconomics.blogspot.com/2010/10/japan-started-second-rounds-of.html
- The End of Mark-to-market Accounting Rules End of Transparency Era http://the-us-microeconomics.blogspot.com/2009/04/mark-to-market-accounting-rolls-end-of.html
- Why weak dollar is not good for U.S. economy? http://the-us-microeconomics.blogspot.com/2009/10/why-weak-dollar-is-not-good-for-us.html
- Bullish scenario, Inverted Head and Shoulders Pattern http://the-us-microeconomics.blogspot.com/2009/07/inverted-head-ans-shoulders-pattern.html
- Why Did LIBOR & TED Spread Drop? http://the-us-microeconomics.blogspot.com/2009/05/why-did-libor-ted-spread-drop.html
- Job lost & GDP Outlook http://the-us-microeconomics.blogspot.com/2009/05/job-lost-gdp.html
- Why Public-Private Investment Program(P-PIP) Will be a Failure? http://the-us-microeconomics.blogspot.com/2009/04/why-public-private-investment-program.html
About Me
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- I’m a financial analyst. I'm a bear. I use fundamentals and technical analysis in my investments. I’m a big supporter of the Austrian School of economic thought, but at the time of crisis I believe Keynesians get it right. I always have an eye on macro & microeconomics, I’m a contrarian analyst. Be advised that the views and opinions expressed here are subject to change based on market, economic and other conditions. They are the illustrations of broader economic themes and in no way guarantees your profitability by trading Securities mentioned. I do not claim or guarantee that you will profit from the information provided. I will not be held responsible for any investment actions that you take as a result of Securities mentioned. I’m neither your investment adviser nor your financial broker. Consult with your broker before start to trade any securities. Futures and options on futures trading involve substantial risk and is not a suitable investment for all type of investors. The information given is intended to be an aid to your own investment process, and your investment actions should solely be based upon your own decisions and research.
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