Monthly Archives: May 2008

SHORT TERM: quantity of unsold homes hits 23-year high, market declines, DOW -145 Overnight the Asian markets were mostly lower, with only Japan displaying a small gain. Europe opened lower and closed -1.65%. US index futures started off higher overnight, but lost … Continue reading →

SHORT TERM: market trades in narrow range, DOW +24 Overnight the Asian markets were mostly lower, and Europe closed mixed. US index futures traded higher overnight and turned flat, when the weekly unemployment claims was reported down 9,000. At 9:00 … Continue reading →

SHORT TERM: market stunned by FED’s inflation forecast, DOW -227 Overnight the Asian markets were mostly higher. Europe started the day higher, but ended mixed. US index futures traded higher overnight and the market opened slightly higher at 1416. Then a … Continue reading →

SHORT TERM: inflation worries market, DOW -199 Overnight all of the Asian markets were lower, and Europe closed -2.20%. US index futures traded lower overnight, and headed lower when at 8:30 the April PPI was reported +0.2%, to a 3% … Continue reading →

SHORT TERM: leading indicators rise, market rises then closes mixed, DOW +41 Overnight the Asian markets were mostly higher, with only China’s SSEC displaying a small loss. Europe opened higher and closed +1.05%. US index futures were flat overnight and … Continue reading →

REVIEW While economic data continues to come in mixed to negative, the market continues to shrug off the bad news an edge higher. For the week the SPX/DOW added 2.3%, and the NDX/NAZ were +3.5%. The SPX uptrend made a marginal … Continue reading →

SHORT TERM: market opens mixed, closes mixed, DOW -6 Overnight the Asian markets were mixed, but Europe closed +0.90%. US index futures traded slightly higher overnight, when at 8:30 Housing starts were reported to have jumped 8.2% in April. Single … Continue reading →