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Markets Begin The Week On A Losing Note Ahead Of Earnings Kick-Off, Fed Minutes
Monday, October 6, 2014 - 4:45pm | 1927U.S. stocks traded lower on Monday ahead of earnings season, which unofficially begins on Wednesday. The Federal Reserve will also release its minutes from its recent meeting on the same day. Major indices were trading in positive territory on Monday with the Dow up as much as 89 points before...
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Unleash The Bulls: Surge In September Hiring Data Jolts Markets Higher
Friday, October 3, 2014 - 4:42pm | 1615U.S. markets rose sharply after the U.S. government reported that 248,000 jobs were created in September, bringing the unemployment rate to 5.9 percent, the lowest it has been since July 2008. In addition to the jobs report, data from the U.S. government showed the trade deficit narrowing in...
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Technical Update: Gold Remains In Trouble
Friday, September 26, 2014 - 12:40pm | 116Gold futures continued to trade bearishly this week, even as they churned sideways. Technicians now believe that gold is in wave “(iii) of iii” lower with potential support at 1205.70 and 1137.70. As gold is oversold, technicians note that selling at current levels could be...
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Technical Update: How Far Can Crude Oil Fall?
Friday, September 19, 2014 - 2:24pm | 232The weekly chart of crude oil is highlighted this week to get an idea of the possibilities in terms of its major trend. Recently, whether it is because of the rising U.S. dollar or rising inventories due to new fracking technologies, crude oil has been under major selling pressure. Even when...
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Technical Update: Gold Bulls Getting hammered By Deflationary Trend In Commodities
Friday, September 19, 2014 - 2:20pm | 177Gold futures have continued the recent bearish trading this week. It broke and closed down below key short-term support last week at 1240 and have continued to disappoint the hopeful bulls by trading as low as 1214.20 earlier Friday before bouncing very slightly heading into 2 p.m. EST. Technicians...
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Technical Update: S&P May Have A Bit More Upside Left Before Healthy Sell-Off Starts
Friday, September 19, 2014 - 2:17pm | 94Currently just above 2,000, the S&P futures have flipped the switch back "on" and are back in rally mode, Friday's quiet trading not withstanding. Technicians are now providing a range of potential upside targets rather than a specific level; last week's update had them indicating that 2057 was...
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iShares China ETF Pulling Back After Break Of Downtrend: An Opportunity To Buy?
Wednesday, September 17, 2014 - 11:46am | 297The iShares FTSE/Xinhua China 25 Index ETF (NYSE: FXI) is pulling back after a nice run to the upside in recent months. So, will the Chinese international leadership continue, or is it too late to profit on the upside there? What's Driving The Action? Activity in China caught some...
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Technology Stocks Down As Rest Of The Market Starts Week Flat
Monday, September 15, 2014 - 5:15pm | 703Although the S&P 500 finished the day flat, high-flying technology stocks were hit hard, dragging the sector down 0.8 percent on the session. The Dow Jones Industrial Average gained 43.6 points, or 0.26 percent, to close at 17,031. The S&P 500 dropped 1.4 points, or 0.1 percent, to...
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Technical Update: How Far Can Silver Fall?
Friday, September 12, 2014 - 11:56am | 164Silver futures have been in a bear market for quite a while. Silver futures have traded relatively weak versus gold and have failed to really make any rally efforts of any consequence since mid-2013. Based on the weekly chart, technicians say silver appears to be in the latter stages of a massive “...
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Technical Update: A Look At The Key Support For Gold At 1240
Friday, September 12, 2014 - 11:46am | 143Gold futures have continued to sell-off this week partly in reaction to the strong U.S. Dollar, but also in reaction to what appears to be the stopping-out of the “inflation trade.” Gold and silver both don't look too good, technically, and appear like they could move much lower in the short-term...
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Technical Update: S&P Futures Support And Resistance
Friday, September 12, 2014 - 11:43am | 101S&P futures drifted lower this week in an ongoing alleviation of the overbought condition that had developed on its price chart recently. The outlook for the "minis" continues to be bullish, with technicians' upside targets remaining up at 2057 – 2058. Support for the minis now appears to be...
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Strong Dollar, Weak Demand And Big Supplies Combining To Crush The Crude Oil Bulls
Friday, September 12, 2014 - 7:04am | 187Abundant supplies were strike one, but a strong greenback and weak IEA demand data are strikes two and three for the crude bulls. The charts say there could be even more downside for black gold. Crude oil futures have been under pressure for months now due to the world being “awash...
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Equities Up Despite Jobs Miss, Investors Note Jobs Added In Right Sector
Friday, September 5, 2014 - 4:43pm | 736Despite a disappointing nonfarm payroll figure, stocks pushed higher to close out a strong week. The Dow Jones Industrial Average rose 68, or 0.4 percent to close at 17,137. The S&P 500 gained 10 points, or 0.5 percent, to close at 2,008. The Nasdaq added 21 points, or 0.5 percent,...
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Technical Update: Russian Issues Failing To Lift Wheat Prices
Friday, September 5, 2014 - 12:55pm | 116Chicago Wheat futures (CBOT: WZ14) are back on the move to the downside for another week and appear destined for a test of projected support at the 517 3/8 level (at best) or at 425 1/8 (at worst). As W futures are already oversold, technicians are not advocating starting new short positions in...
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Technical Update: 10-Year Treasuary Prices Bouncing Off Of Short-Term Support On Bad Jobs Data
Friday, September 5, 2014 - 12:52pm | 133The futures on the 10-Year U.S. Treasury note price (@TY) have come down recently, as rates rose in conjunction with the U.S. equity markets' continued rise to new all-time highs. The decline in TY prices looks like it came in the form of an "abc" downside correction. That correction has...