Global Economic Intersection
Advertisement
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitIQ
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitIQ
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
Global Economic Intersection
No Result
View All Result

Live Market Commentary For 05-29-2012

admin by admin
May 29, 2012
in Uncategorized
0
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

After Market Closing Comments:

The mini-rally on Wall Street heated up in the last 30 minutes before the bell. Materials, technology, consumer discretionary, energy and industrial shares leading the way. The broader market averages posted bigger gains on a percent basis. I do expect the market to back off tomorrow before resuming the short term trend up to 1340 for the 500. The markets did have a burst of selling activity rated heavy at the close stopping further gains in the aftermarket dead it is tracks.

The DOW is at 12580 up 125.86 or 1.01%, the 500 is at 1332 up 14.60 or 1.11%, the $RUT is at 777.16 up 10.75 or 1.40% and SPY is at 133.91 up 1.81 or 1.37%. The trend is up and the current bias is up.

Gold is up to 1557 with a positive bias. WTI oil is at 90.82 being as low as 90.25 this morning. Brent crude was in the high 106.90 and is currently trading in the 106.25 area. The USD rose to 82.70 highest since 8-2010 and settled in at 82.46. The EURO fell to 1,2460 and recovered to 1,2503 the lowest point since August 22, 2010.

The markets in general fell to their lowest point following this news.

@foxnews:______

Stocks remain solidly in the green Tuesday but are well off their highs after ratings firm Egan-Jones lowered Spain to B from BB-. The firm’s outlook on Spain remains ‘negative’, and the euro has fallen below $1.25.

@telegraph:

“The Pew Research Centre has released a fascinating bit of research today which includes the chart below of European stereotypes. It seems that all of Europe see Germany as the hardest working nation, apart from Greece, which believes it is.”

The public is very worried about joblessness, inflation and public debt, and those fears are fueling much of this uncertainty and negativity. Europeans largely oppose further fiscal austerity to deal with the crisis. They are divided on bailing out indebted nations. They oppose Brussels’ impending oversight of national budgets. At the same time, Europeans who now use the euro have no desire to abandon it and return to their former currency. And anti-German sentiment is largely contained to Greece, at least for the moment.

The SPY at the close. Tells an interesting story in that it corrected sideways from the bottom Bollinger band, rose back up above its 100 day MA and touched its 100 day MA today and retreated closing up. Will it challenge its 50 day tomorrow and back off that resistance? There is a lot of indecisiveness going on making it it difficult for traders.


The 500 at the close.

The $RUT at the close.

The DOW at the close.

The Indexes at the close.

After Market Opening Comments:

First 10 minute volume was moderately heavy and red falling off morning highs just a tad, struggling to keep what it has gained. Absent of any negative news from the Eurozone I can see the 500 rising to the 1340 area over the next few days. The trading range so far this morning has remained in a very narrow range as the bears and bulls duke it out. The 20 minute volume was green and also moderately heavy pushing markets higher and past early morning highs.

It is possible the markets will fall to midlevel prices on Friday and then finish up the afternoon elevated. The short and long ETF’s risk-reward ratio is low making any trading risky in light of what news there is and what is expected. None of it good as the battle goes on with the bulls gradually edging out the bears in a narrow trading zone.

USD Consumer Confidence (MAY) expected 69.6 from 69.2 in April reported a big miss at 64.9 and the USD Dallas Fed Manufacturing Activity (MAY) reports in at 10:30. Volume is currently mixed and heavy.

At 10 am the DOW is at 12551 up 95.00 or 0.77%, the 500 is at 1327 up 9.76 or 0.74%, the $RUT is at 772 up 5.82 or 0.78% and SPY is at 133.34 up 1.24 or 0.98%. The trend is up and the current bias is up.

Gold is down to 1579 with a positive bias. WTI oil is at 91.57 being as low as 90.90 this morning. Brent crude has been trading in the 107’s all morning.

Premarket Commentary:

Premarket is up evidently because of ‘not so good’ US financial news. Won’t last, best to sit on the sidelines until the fallout settles. The SP500 is at 1325 off 1328 earlier, the DOW is up 82.00 down from 107 and the NASDAQ is up 17.00

@dailyfx:

U.S. MARCH S&P/CS 20 CITY (MOM) SA FELL TO 0.09% VS. 0.2% PREDICTED, PREVIOUSLY 0.15%.

U.S. MARCH S&P/CS COMPOSITE-20 (YOY) FALLS 2.57% VS. 2.6% DECREASE PROJECTED, PREVIOUS DECLINE WAS REVISED TO 3.54% FROM 3.49%.

U.S. MARCH S&P/CASE-SHILLER US HPI (YOY) FALLS 1.92% VS. 3.05% DROP ANTICIPATED, PREVIOUS DECREASE WAS REVISED TO 3.9% FROM 4.03%

U.S. MARCH S&P/CASE-SHILLER US HPI PRINTS LOWER AT 123.33, PREVIOUS READING WAS REVISED TO 125.87 FROM 125.67.

U.S. MARCH S&P/ CASESHILLER HOME PRICE INDEX WAS LOWER AT 134.1 VS. 134.4, PREVIOUSLY REVISED DOWN TO 134.14 FROM 134.2.

@SA

April Chicago Midwest Mfg. Index: +2.4% M/M. +12.0% Y/Y. Regional auto sector production rose 7.6%.

@marketwatch:

WASHINGTON (MarketWatch) – U.S. home prices were unchanged in March, according to the S&P/Case-Shiller 20-city composite index. The three-month rolling index includes transactions that took place from January to March. Over the past 12 months, prices have fallen 2.6% as… Full Story

@zerohedge:

Overnight Sentiment: Everyone At The Bailout Trough

“Futures are well bid overnight even though following a modest short covering squeeze of the new record number of EUR shorts, the primary driver of risk, the EURUSD is now back to mere pips above its 2010 lows.

It is somewhat confusing why equities are so jubilant about what can only be more imminent bailouts, following statements by the ECB’s Nowotny who made it clear that the ECB is not discussing the renewal of bond purchases and that the central bank provides “liquidity not solvency.”

Adding to the confusion was a release in Chinese daily Xinhua which said that China has no intention of introducing large scale stimulus.”

To contact me with suggestions or deserved praise:

[email protected]

Written by Gary

Previous Post

Facebook: Top Valuation Should be $7.50

Next Post

Mass Extinction Events Not Necessarily Cataclysmic

Related Posts

Weaker Dollar Keeps Bitcoin Above $30K As Analysts Target 60% BTC Dominance
Economics

Weaker Dollar Keeps Bitcoin Above $30K As Analysts Target 60% BTC Dominance

by John Wanguba
May 20, 2022
Ethereum Developers Tip The Merge Might Happen In August ‘If All Goes As Planned’
Business

Ethereum Developers Tip The Merge Might Happen In August ‘If All Goes As Planned’

by John Wanguba
May 20, 2022
Commonwealth Bank Puts Crypto Trading Test On Ice As Regulators Hesitate
Business

Commonwealth Bank Puts Crypto Trading Test On Ice As Regulators Hesitate

by John Wanguba
May 20, 2022
Musk Hints He Could Reprice Twitter Deal As He Looks At Fake Accounts
Business

Musk Hints He Could Reprice Twitter Deal As He Looks At Fake Accounts

by John Wanguba
May 18, 2022
Madonna Joins Hands With Digital Artist “Beeple” To Launch New NFTs
Business

Madonna Joins Hands With Digital Artist “Beeple” To Launch New NFTs

by John Wanguba
May 18, 2022
Next Post

Mass Extinction Events Not Necessarily Cataclysmic

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins banking Binance Bitcoin Bitcoin adoption Bitcoin market Bitcoin mining blockchain BTC business Coinbase crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi digital assets Elon Musk ETH Ethereum Ethereum blockchain finance funding government investment market analysis Metaverse mining NFT NFT marketplace NFTs nonfungible tokens nonfungible tokens (NFTs) price analysis regulation Russia social media technology Tesla the US Twitter

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • August 2010
  • August 2009

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized
Global Economic Intersection

After nearly 11 years of 24/7/365 operation, Global Economic Intersection co-founders Steven Hansen and John Lounsbury are retiring. The new owner, a global media company in London, is in the process of completing the set-up of Global Economic Intersection files in their system and publishing platform. The official website ownership transfer took place on 24 August.

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Recent Posts

  • Weaker Dollar Keeps Bitcoin Above $30K As Analysts Target 60% BTC Dominance
  • Ethereum Developers Tip The Merge Might Happen In August ‘If All Goes As Planned’
  • Commonwealth Bank Puts Crypto Trading Test On Ice As Regulators Hesitate

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

No Result
View All Result
  • Home
  • Contact Us
  • Bitcoin Robot
    • Bitcoin Profit
    • Bitcoin Code
    • Quantum AI
    • eKrona Cryptocurrency
    • Bitcoin Up
    • Bitcoin Prime
    • Yuan Pay Group
    • Immediate Profit
    • BitIQ
    • Bitcoin Loophole
    • Crypto Boom
    • Bitcoin Era
    • Bitcoin Treasure
    • Bitcoin Lucro
    • Bitcoin System
    • Oil Profit
    • The News Spy
    • British Bitcoin Profit
    • Bitcoin Trader
  • Bitcoin Reddit

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

en English
ar Arabicbg Bulgarianda Danishnl Dutchen Englishfi Finnishfr Frenchde Germanel Greekit Italianja Japaneselv Latvianno Norwegianpl Polishpt Portuguesero Romanianes Spanishsv Swedish