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OBSERVATIONS

 Sat, 04 Sep 2010 16:11:18 GMT

CURRENCIES
US INDEXES
GOLD
Currencies - Trillions and Trillions Everyday
Mar 20, 2009 The June Euro was lower due to profit taking overnight as it consolidates above 50% retracement level of the December-March decline crossing at 135.215. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible. If June extends this month's rally, the 62% retracement level of the December-March decline crossing at 137.736 is the next upside target. Closes below the 20-day moving average crossing at 128.603 would temper the near-term friendly outlook. First resistance is the 62% retracement level crossing at 137.736. Second resistance is the 75% retracement level crossing at 140.557. First support is the 10-day moving average crossing at 130.492. Second support is the 20-day moving average crossing at 128.603.

Currency News...

US Index Futures - the New Day Trading
Mar 20, 2009 The June S&P 500 index was lower due to profit taking as it consolidates some of this week's rally. Stochastics and the RSI are overbought but remain neutral to bullish signaling that additional gains are possible. If June extends this rally, gap resistance crossing at 816.20 is the next upside target. Closes below the 20-day moving average crossing at 734.36 would temper the near-term friendly outlook in the market. First resistance is Thursday's high crossing at 800.50. Second resistance is gap resistance crossing at 816.20. First support is the 10-day moving average crossing at 748.08. Second support is the 20-day moving average crossing at 734.36. The June S&P 500 Index was down 6.60 pts. at 773.50 as of 6:01 AM CST. Overnight action sets the stage for a lower opening by the March S&P 500 index when the day session begins later this morning.

Market News...

GoldBug Delight
Mar 20, 2009 April gold was lower due to profit taking overnight as it consolidates some of Thursday's rally. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If April extends this week's rally, February's high crossing at 1007.70 is the next upside target. Closes below Wednesday's low crossing at 882.70 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 967.80. Second resistance is February's high crossing at 1007.70. First support is the 20-day moving average crossing at 933.20. Second support is the 10-day moving average crossing at 921.90.

May silver was steady to slightly higher overnight as it extends Thursday's rally. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. If May extends this week's rally, February's high crossing at 14.635 is the next upside target. Closes below the 10-day moving average crossing at 12.898 would confirm that a short-term top has been posted.

Gold News...
CRUDE OIL
COMMODITIES
INTERNATIONAL
Energy - An Old Bug-A-Boo
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Oil News...

A New Era?
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Commodity News...
In For The Long Haul
Fri, 03 Sep 2010 14:15:22 -0500

High-Flying Swiss Franc
The Swiss franc reached a record high against the euro in late
August as fresh tension in eurozone debt markets drove nervous investors to the
CHF. The currency enjoys “safe haven” status, reinforced by Switzerland’s
favorable growth outlook, robust public finances and consistent current account surpluses.
The markets’ flight-to-safety pushed yields on 10-year Swiss government bonds
as low as 1.02%. [...]
Thu, 02 Sep 2010 18:11:50 -0500

The Stock Market Rally Versus the World’s Economic Fundamentals
What passes for business reporting in the United
States is too often a series of breathless reports about the stock
market. When the Dow rises precipitously, as it did today (Wednesday),
the business press predicts an end to the Great Recession. When the
stock market plummets, as it did last week, the Great Recession is said
to be worsening. 

Wed, 01 Sep 2010 10:43:43 -0500

Hedge Fund Blindness
Hedge fund managers may be good at investing money. (Or they may just
be the beneficiaries of luck, like successful stock mutual fund
managers.) But that doesn’t mean they can think clearly.

Tue, 31 Aug 2010 22:20:36 -0500

U.S. Market Snapshot: Stocks Rise on Better than Forecasted Consumer Sentiment and Home Prices
The Conference Board reported that consumer confidence rose to 53.5 in August from a revised 51 in the prior month, beating economists’ expectations of 50.7. The S&P/Case-Shiller home prices also rose 0.28% m/m on a seasonally adjusted basis in August, more than economists surveyed by Bloomberg expected (expectations were for an increase of 0.2% m/m SA). The release of the Fed [...]
Tue, 31 Aug 2010 14:52:41 -0500

European Market Snapshot: Most Markets Close Higher on Better Than Forecasted U.S. Consumer Sentiment and Home Prices
European markets opened
significantly lower and traded around that range before quickly paring back
their earlier losses after U.S. consumer sentiment rose more than forecasted.

The Conference Board
reported that consumer confidence rose to 53.5 in August from a revised 51 in
the prior month, beating economists’ expectations of 50.7. The
S&P/Case-Shiller home prices also rose 0.28 % m/m on [...]
MARKET MOVEMENTS
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