Monthly Archives: October 2011

monday update

SHORT TERM: market gaps down in pullback, DOW -275 Overnight the Asian markets were all lower. Europe opened lower and closed -3.0%. US index futures were lower overnight as well. At the open the market gapped down to SPX 1276 … Continue reading

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weekend update

REVIEW Another positive week for US equities as they gained ground for the fourth week in row. The majority of the gains occurred on thursday after the ECU had agreed upon a solution to their credit crisis wednesday night. Most of … Continue reading

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friday update

SHORT TERM: consolidation day, DOW +22 Overnight the Asian markets were all higher. Europe opened higher but closed mixed. US index futures were lower overnight. At 8:30 Personal income was reported higher: +0.1% vs -0.1%, Personal spending was reported higher: … Continue reading

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thursday update

SHORT TERM: solid gap up rally after ECU debt deal, DOW +340 Overnight, the Eurozone reached agreement on dealing with their credit crisis. Asian markets were all higher on the news. Europe opened higher and closed +4.2%. US index futures … Continue reading

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wednesday update

SHORT TERM: gap up opening ends in a volatile day, DOW +162 Overnight the Asian markets were mostly higher. Europe opened higher but closed mixed. US index futures were higher overnight, but at 8:30 Durable goods orders were reported more negative: -0.8% … Continue reading

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tuesday update

SHORT TERM: market pulls back, DOW -207 Overnight the Asian markets were mixed. Europe opened lower and closed -0.30%. US index futures were higher, then lower, overnight. At 9:00 Case-Shiller reported a 0.2% increase in housing prices. The market opened … Continue reading

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monday update

SHORT TERM: market rallies right into resistance, DOW +105 Overnight the Asian markets were all higher. Europe opened higher and closed +1.25%. US index futures were marginally higher overnight, and the market opened a couple of points higher at SPX … Continue reading

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weekend update

REVIEW The US markets had a choppy week, bouncing between SPX 1191/1197 and 1233/1239, but finished near the high for the week at 1238. World markets were mixed to lower. Economics reports for the week were mixed as well. On … Continue reading

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friday update

SHORT TERM: market rallies on European optimism, DOW +267 Last night FED governor Tarullo gave the following speech: http://www.federalreserve.gov/newsevents/speech/tarullo20111020a.htm. He suggests the FED begin a monetized MBS purchase program to help the housing industry. Overnight the Asian markets were mostly lower. … Continue reading

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thursday update

SHORT TERM: choppy session, DOW +37 Overnight the Asian markets were all lower. Europe opened lower and closed -1.85%. US index futures were higher overnight. At 8:30 weekly Jobless claims were reported relatively flat: 403K vs 404K. The market opened … Continue reading

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