September 16, 2011 – 12:14 pm
(Video) Bob Prechter Explains ‘Triple Top’ Forming in U.S. Stock Market This excerpt from the special video issue of the August Elliott Wave Theorist brings you Bob Prechter’s analysis of the triple top that has been forming in the U.S. stock market over the past 12 years. Watch as Bob himself explains what this pattern [...]
January 7, 2011 – 9:23 am
Traders have been waiting all week for today’s release of the Employment Situation report. With the indexes either near resistance or at minor new highs, as is the Nasdaq 100, the news will be the directional driver. There is something potentially more interesting going on for the NDX in particular. We may be seeing a [...]
December 17, 2010 – 10:57 am
After a rocky start the markets managed to pull off a green day, finishing closer to the highs than to the lows. Index levels didn’t change much, however, with the exception of the Russell 2000. The Russell has flipped back to Wednesday morning’s levels in a 180-degree turn. What was resistance now becomes support. A [...]
October 4, 2010 – 10:06 am
Will the US Markets Falter? We will be keeping a close eye on the major US stock indices as we begin earnings season. We believe that the September rally is starting to falter, and there could be strong gains from buying puts on the way down. Below are the key technical support and resistance levels [...]
September 27, 2010 – 8:31 am
The indexes broke free of resistance on Friday right out of the gate. It looked like a classic short-squeeze that saw prices shoot straight up at the start and then move sideways at the highs all day. Resistance levels in the Nasdaq 100 and S&P 500 both breached to new recent highs, while the Russell [...]
September 13, 2010 – 8:18 am
U.S. stock index futures are higher this morning after stronger sessions in Asian and European markets. Asia moved higher after better-than-expected economic data from China was released over the weekend, showing robust growth well above consensus despite cooling measures put in place by the Beijing government. Materials and energy are likely to trade higher on [...]
September 2, 2010 – 8:01 am
U.S. stock index futures pointed to a marginally higher open Thursday, rising slightly after a report that weekly jobless claims fell by 6,000 to 472,000, The drop in payrolls announced by the Labor Department was better than the 475,000 forecast by economists polled by Reuters. Last week’s claims were revised up to 478,000 in Thursday’s [...]
August 24, 2010 – 8:21 am
The action on Monday was relatively muted, but it was still an important day. With the exception of the Nasdaq 100, both the S&P 500 and the Russell 2000 broke support. A lower close tomorrow would confirm that the pattern is active. The Nasdaq 100 missed breaking support at the close by less than a [...]
U.S. stocks lower for the week Bank stocks surged Friday, boosted by relief over a deal on new financial-regulation overhaul, but the gains failed to wipe out more than a fraction of the broader market’s heavy losses for the week. A flurry of conflicting economic data left the benchmark indexes mixed. U.S. dollar falls for [...]
Euro Going Down! The euro plunged to its lowest level against the dollar in more than four years in Asia Monday, as investors continued to dump the common currency on the view that Europe’s debt problems and economic fragility could drag the currency lower. More falls are likely for the euro this week as investors [...]
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