Good Afternoon,
Let's be clear, the SPX will hit a new record. It is just a matter of
when. Before I get to technicals though, a quick fundamental update,
very quick. Durable goods and weekly claims. That's about it. Durable
goods already came out and weekly claims will be out tomrrow - I expect
weekly claims to be supportive - showing a strenghtening labor market.
BUT, watch out! Keep an eye on the 4 week moving average over the next
few quarters. Will it start to flatten or maybe even start to rise?
Posted By:
Brian Kahn
Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.
Selling into the EUR rally.
The EUR/USD is rebounding from a lower low in Wednesday’s session as the market heads into a holiday weekend. The question is whether today’s rally represents a height from which bears are tempted to step in. The daily correction doesn’t look like much, but intraday there is a zone emerging that could entice sellers to take a stand.
Raghee Horner