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Posted by btr Tue, 17 Apr 2007 05:00:00 GMT
It will have to test the previous high first. We might see a breakout from this ascending triangle. So the resistence is at 12,845 and then 13,000 if it breaks out.
Posted by btr Thu, 01 Mar 2007 04:16:00 GMT
Dow Jones Industrial has broken its uptrend line. It will likely test the major support area at 12,000.
Tuesday’s big drop was the first in a few years.
MARKETS: Deep Blue says: "The subprime problem we were told would not spread to other markets. It would be 'contained'. And it has, according to Jim Grant. Contained on planet Earth." (Ha Ha!) This is a Jim Grant kind of time now, right?....And indeed the subprime melt really has spread everywhere: more
The Hesse state election is a bellwether for the chancellor and possibly for the future of German party politics, writes Constanze Stelzenmüller more
Hong Kong and Mumbai stocks took a tumble late in trading after news that French bank Societe Generale will have to raise €5.5bn because of trading fraud more
Venezuela's new currency will not cut inflation
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Duru just wrote an article about Black Swans and it’s very timely given the news about this rogue trader at Societe Generale. That trader was hiding losing futures trades that caused the bank to take a $7 billion loss. My first thought upon hearing that was “don’t they have a bac more
After a day of consolidation in the broad stock indices, MSFT is slated to release earnings after the close along with Amgen. Taking a look at the daily chart of the S&P 500 index, what we have so far is an untested spike bottom on this time frame. I imagine bullish traders will be [...] more
Stocks posted modest gains and commodities rallied across the board as investors continued to bet on a supply of cheaper dollars from the Federal Reserve. Futures on everything from gold to corn to lumber to oil climbed. more
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