Financial Market Analysis and Forecast e090612
Markets traded to targets and consolidateSPX 950 and DOW 8800
* Markets are consolidationg after trading to the noted targets: SPX 950, DOW8800, NYA 6200, and NASDAQ 1880
* Short term price actions are continuing to show negative divergences and narrowing breadth, however, we do not have a start of a correction confirmation. Trading near at intermediate resistance
* Markets trading in a range is a conservative view as I consider all surrounding circumstances based on technical readings of analyzing 100s of charts and fundamental analysis. My view was consistently that markets are overbought, so that it is better not to chase markets even though we now have seen unreasonable bullish stance after markets traded up 40% from the March low. Until proven otherwise, such as market dynamics and technical reading changes, I hold my view which I expressed during the last few weeks since Markets traded to SPX 950 and DOW 8800. For VST trading, of course, trade based on technical readings.
* I commented on SPX 1000 +/- target since a break above 850 on 3/26/2009. Even though I anticipated a meaningful pull back, markets have not shown a pull back as we have seen a continuation of the recent trend.
* Mid year cycle on 7/13+/-: As previously noted, a major mid year cycle date is next pivotal market juncture. Intermediate targets are: SPX 1050 +/-, DOW 11000 +/-, Nasdaq 2200, QQQQ 43, NYA 8000, $BKX 77
Sunday, June 14, 2009
Friday, June 12, 2009
Economic schedule - Quadruple Witchin OE week
MONDAY: NY Fed Empire State survey; Fed's Evans speaks; NAHB housing index
TUESDAY: Housing starts; PPI; industrial production; Madoff sentencing; Earnings from Best Buy, Smithfield Foods, Adobe
WEDNESDAY: Bernanke speaks; weekly mortgage applications; CPI; crude inventories; Earnings from FedEx
THURSDAY: Weekly jobless claims; leading indicators; Philly Fed index; Earnings from Research In Motion
FRIDAY: Quadruple witching
___
Note the Tuesday -- Madoff: it is quite sickening to see that markets are hyping based on the similar kinds of activities which those will be revealed after massive millions of Americans are again fooled into.
Spending trillions debt is just the same as the Madoff swindle ponzi scam - just the same except the excuse is different stating that the spending is to stimulate economy. But we know that the spending is, in reality, a big swindle draining sheepsters' pocket to sustain the big Government spending -- specially during massive trade deficit and job exports.
It is hardly believable that so many are fooled into such scheme.
Great country is getting ruined by the greed ... with new drama.
TUESDAY: Housing starts; PPI; industrial production; Madoff sentencing; Earnings from Best Buy, Smithfield Foods, Adobe
WEDNESDAY: Bernanke speaks; weekly mortgage applications; CPI; crude inventories; Earnings from FedEx
THURSDAY: Weekly jobless claims; leading indicators; Philly Fed index; Earnings from Research In Motion
FRIDAY: Quadruple witching
___
Note the Tuesday -- Madoff: it is quite sickening to see that markets are hyping based on the similar kinds of activities which those will be revealed after massive millions of Americans are again fooled into.
Spending trillions debt is just the same as the Madoff swindle ponzi scam - just the same except the excuse is different stating that the spending is to stimulate economy. But we know that the spending is, in reality, a big swindle draining sheepsters' pocket to sustain the big Government spending -- specially during massive trade deficit and job exports.
It is hardly believable that so many are fooled into such scheme.
Great country is getting ruined by the greed ... with new drama.
Thursday, June 11, 2009
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