Consolidation Day, the markets are littered with bad news, but price holds in this supported range. After this past week’s abysmal news on the economy(unemployment numbers), corporate greed(Libor is fixed), and the monopoly game in Europe(Merkel has staying power), the S&P500 is stalling into the new week with a consolidation day. Consolidation is when the…
Risk off Trade is in the purchase of Dollars or US Treasuries, not in Gold. Dollar has been screaming up because of the impending doom in Europe. What is the Risk off trade? Gold, The Dollar Index and the S&P500 emini futures contract are running hand in hand this week as the Euro has been…
Consolidation in the S&P500 emini futures as a major support has been reached. Watch the bounce this am off support and could see some price failure then a move up. Depending on what occurs with the dollar index and Europe we could see a bit of a break on this move down. Here is…
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