Feb 23, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

Greek Crisis Creating Opportunities For These Single Country ETFs

Posted: 23 Feb 2010 10:01 AM PST

“Italy has become the new focus of euro skeptics as pessimism over Europe grows. Many investors were focused on the Spanish housing and banking situation, expecting it would be the source of financial turbulence for the currency union, when Greece stepped into the picture and seized global attention. Over the course of a month, the euro fell from $1.45 to $1.35, but the decline has slowed recently. Greece has until March 16 to come up with a plan to cut its deficit, and this has calmed the … [visit site to read more]

US Stock Market 4th Quarter Earnings In Perspective

Posted: 23 Feb 2010 09:50 AM PST

With most of the S&P 500 companies having reported financial results for Q4 2009, the chart below, courtesy of The Chart Store (via The Big Picture), shows how S&P 500 earnings declined by 92% from their Q3 2007 peak to the low of Q1 last year, and then subsequently rebounded by more than 600%. However, as shown by various measures of historical and prospective price/earnings multiples (see text in blue), the S&P 500 is not in cheap territory. Justifying current price levels … [visit site to read more]

Forex Trading: EURUSD Breaks Through Support At The 1.3531

Posted: 23 Feb 2010 09:16 AM PST

The EURUSD broken through the support at the 1.3531 level and is moving lower.  The 1.3483 level is the next target for the pair. This was 61.8% retracement level of the 2009 low to high trading range (see chart below).  The price moved below this level last week but was reversed and led to a short covering rally to the 1.3691 level.   There should be profit taking buyers against this … [visit site to read more]

Five ETFs For An Asia-Centric World

Posted: 23 Feb 2010 09:08 AM PST

Since the economic recovery began, many investors have looked to Asia to drive growth and stimulate global demand. China has grabbed most of the headlines, as tremendous growth in the world's most populous nation has essentially pulled this emerging market into a tie with Japan as the world's second-largest economy. In recent weeks, uncertainty over China's next monetary policy moves caused turmoil in global equity markets, an indication of the influence that the country now holds over … [visit site to read more]

Australian Dollar: Bounce

Posted: 23 Feb 2010 08:18 AM PST

Update on supports and resistances. … [visit site to read more]

Canadian Dollar: Bounce

Posted: 23 Feb 2010 08:18 AM PST

Update on supports and resistances. … [visit site to read more]

Long Term US Dollar Trends: Nowhere But Down

Posted: 23 Feb 2010 08:16 AM PST

Well… Here we are this morning, the currencies have basically remained stalled, with only the "higher yielders" making any headway, albeit small headway.
The non-dollar currencies saw a bit of selling yesterday morning, after I signed off, but have rebounded a bit in the overnight markets. There's a feeling among us here on the trading desk that we're about to break out here… It's either going to be a break out to the high side or the low side… But I doubt that we're going to … [visit site to read more]

Video: NYSE Opening Bell Market Monitor: BKS, TGT, HD

Posted: 23 Feb 2010 08:11 AM PST

The latest in news, commentary, and information on what’s moving the US equities markets. … [visit site to read more]

Forex Trading: EURUSD Bounces Off Support, Then Off Of Resistance As The Action Is Choppy.

Posted: 23 Feb 2010 08:08 AM PST

As per the prior posts, the EURUSD found support at least initially against the 1.3531/38 area (low reached 1.3530 and bounced).  The price is now back up and looked at the 100 hour MA at the 1.3584 level currently (high reached 1.3579). 
The action is volatile and choppy but the bones of the technicals remain.  The bias is bearish below the 100 hour MA.  So there is resistance at the 100 hour MA above and support at the 1.3531-38 level.  A break of either should lead … [visit site to read more]

Forex Trading: AUDUSD Testing 200 Hour MA At 0.8946

Posted: 23 Feb 2010 07:53 AM PST

The AUDUSD broke through support at the 100 hour MA (at 0.8980) and the pair has moved immediately down to the 200 hour MA level at 0.8946. We outlined these levels in the morning videos.  The pair seems to be stalling at the level currently but could come under additional pressure if the price does not rebound soon.   Be aware. On the topside, the mkt will be watching the 100 hour MA at the 0.8980 level.  The ability to bounce 4 times off that moving average level and then … [visit site to read more]

Video: Hang Seng Roars While Rest Of Asia Quiet

Posted: 23 Feb 2010 07:31 AM PST

Asian markets were mostly quiet this session with exception to Hong Kong’s Hang Seng index, which posted a huge gain following a rise in domestic banks. … [visit site to read more]
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