In just a few minutes, the FOMC will be releasing a statement summarizing the results of this week's meeting. One of the techniques that Todd teaches, "The First Half-Hour Breakout" can often be employed when an important economic release or Fed announcement is issued, taking advantage of the resulting volatility. In this case, people will probably spend a fair amount of time analyzing the text...
Continue reading >>Spot Gold (XAU) has had some rough sledding of late, largely staying between the mid- to lower Keltner Channels, and moving below the 61.8% Fibonacci retracement level on an intraday basis, although the closes prior to yesterday have held above it. Moving average support remains some distance away, and generally, this looks more like a chart that is rolling over than one that is coiling for a...
Continue reading >>Good Morning, Friends. With central banks and sovereign wealth funds long more Dollars than they care to be, and with the Eurozone finance ministers posting goose eggs for their efforts in Poland this weekend, traders might have anticipated that the currencies that have become havens in place of the Swiss Franc, such as the Canadian and Australian Dollars, and the Norwegian Krone, would be...
Continue reading >>A quick thought on how the Monthly Options Expiration can affect the dynamics of the stock market. ...
Continue reading >>Good Morning, Friends. With the extension of new swap lines from a number of central banks (including the Fed) to the European Central Bank, concerns over the ability of European banks to cover their borrowing needs in Dollars through year end have abated. That's a positive for equities; another is the rumor of a TARP-style plan to help European banks recapitalize ahead of what could then...
Continue reading >>Hi, Friends, It might be more than normally prudent to keep stops tight in EUR/USD today, as it's gapping to and fro in response to headlines. Almost everyone with a Eurozone government ID appears to be a player in the early going; first German Economy Minister Roesler was quoted saying that the German high court ruling makes it impossible for Germany to back Eurobonds, and that the German...
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