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

So, The Fed Kicked The Can Down The Road Once More

admin by admin
August 1, 2012
in Uncategorized
0
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Closing Market Commentary For 08-01-2012

The 2:15 meeting of the Fed’s basically repeats the old message that it stands ready to ease as needed. And for now, there are no additional easing moves planned, nor an extension of the low-rate pledge past late-2014. But as we all know this could be changed in a heart-beat. The first response was a massive selloff, O.K. sort of massive compared to the past several sessions, with relative heavy red volume to confirm that investors are at least nervous about current conditions. As SA wrote, “. . . there’s no new candy for now.“

The BTFD ‘dippers’ jumped right in and provided some green volume of moderate proportions but failed to bring the markets back up to the mid-morning highs. After oscillating back and for 30 minutes the DOW settled at 12995 down 13 points and the 500 at 1378 down a paltry 1.28. Unreal, now we have to wait until Friday and Non Farms Payroll for another movement of non-proportions as the can is kicked down the road.

Well the markets FINALLY closed down as ‘some’ investors are taking the prospects of a real decline is in progress and it is time to move on to ‘safe’ investments. O.K. having said that I would continue to be cautious as radical reversals are to become the norm like we saw 6 months ago. Trading will become more difficult as I believe as the swings will be unpredictable and dangerous if you guess wrong. The continued trend is bearish and swing trading will be the safest stance, but watch out for Friday!

A VERY interesting daily chart for the Russell 2000 as it shows a triangle in the making. I think a breakout to the downside is more likely with all the negative news from the EU, growing concerns about China and the BRICS. Unfortunately, I think the charts have been trashed and next to useless. This is because of the financially meddling that has been going on since the initiation of QE1 keeping the market levels at an artificial high and not showing the ‘real’ values. So take it for what it may or may not be. Click on chart for a larger view.

The RRR** is remains questionable profitably or untradeable at this time. Everything is a ‘guess’ and I don’t work that way.

The DOW at 4:00 is at 12976 down 32.55 or -0.25%.

The 500 is at 1375 down 4.00 or -0.29%.

The $RUT is at 771.13 down 15.81 or -2.01%. (The big loser.)

SPY is at 137.67 down 0.04 or -0.03%.

The trend is down and the current bias is down.

 

WTI oil is at 88.79 trading between 87.49 and 89.42 and the bias is positive.

Brent crude is at 105.61 trading between 104.10 and 106.86 and the bias is positive.

Gold is down today at 1601 trading between 1618 and 1592 with a negative bias.

Dr. Copper is at 3.36 down from 3.42 earlier this morning.

Earlier the USD tumbled from 82.90 yesterday to 82.54 this morning and shot up to 83.08 after the Fed announcement. Unlike the markets it moved further upwards and settled at 83.22.

The 500 at the close.

The DOW at the close.


@marketwatch:

Gold extends losses for a second day

Oil ends higher on supply drop, brushes off Fed

Treasurys extend losses after Fed

The bullish pundits have built quite a case for continuing market climbing and it is quite convincing by itself. If I had no other information at hand I would certainly jump on their band wagon. But, and that is a BIG BUT, in light of continuing negative financial reports from around the World I am keeping my guard up. Report like this one below are keeping me on the cautious side and very reluctant to commit to either side.

Sorry Mario, Here’s Why The EU Is Finished by Cliff Wachtel

“Here’s a helpful reminder, after ECB President Draghi’s latest attempt to jawbone markets higher and restore calm about the EU. Cut past all the talk, pundits, and spin control. Unless the 5 issues below are resolved, the EU in its current form is still a dead man walking.

As I’ve written for months, the EU and euro can’t survive in their current form. Forget all the verbiage written on it.

It all boils down to the following inability of the EU to reconcile the two conflicting fundamental needs of most debtor and creditor nations in the very limited time remaining before the sovereign and bank default dominoes start to fall.

What To Do

In short, this is a market for either very short term traders or very long term investors. The rest of us will likely do well to stand aside in the coming weeks.

Agreed….The END IS NEAR….VERY NEAR….!!”

Federal Reserve issues FOMC statement

http://www.federalreserve.gov/newsevents/press/monetary/20120801a.htm

Released by the Board of Governors of the Federal Reserve System.

** RRR = Risk Reward Ratio

To contact me with suggestions or deserved praise:

[email protected]

Written by Gary

Previous Post

August 2012 FOMC Meeting Statement: Slightly Stronger Weak Statement Implying QE

Next Post

Greece Cuts Away and Tries to Sell the Rest

Related Posts

Luna Foundation Sold 80,000 Bitcoin Amid UST Crash
Business

Luna Foundation Sold 80,000 Bitcoin Amid UST Crash

by John Wanguba
May 16, 2022
Bitcoin Network Strengthens As Mining Difficulty Reaches ATH Of 31.251T
Econ Intersect News

Bitcoin Network Strengthens As Mining Difficulty Reaches ATH Of 31.251T

by John Wanguba
May 15, 2022
Financial Giants Turn Attention To TikTok
Business

Financial Giants Turn Attention To TikTok

by John Wanguba
May 15, 2022
Santander Sends 80% Of IT Network To The Cloud
Business

Santander Sends 80% Of IT Network To The Cloud

by John Wanguba
May 15, 2022
How Blockchain Technology Boosts Research And Business
Business

How Blockchain Technology Boosts Research And Business

by John Wanguba
May 12, 2022
Next Post

Greece Cuts Away and Tries to Sell the Rest

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 CBDC Coinbase crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi digital assets Elon Musk ETH Ethereum 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

  • Luna Foundation Sold 80,000 Bitcoin Amid UST Crash
  • Bitcoin Network Strengthens As Mining Difficulty Reaches ATH Of 31.251T
  • Financial Giants Turn Attention To TikTok

© 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