Lawrence McMillan crunches the numbers and discovers that a stunning 94% of gains by the Standard & Poor’s 500 Index last year were made on the first trading day of each month.
Mark Hulbert: Contrarians back from the brink
February - 28 - 2011
Last week’s correction – the biggest weekly drop for the Dow since last August – was hardly good news for the bulls.
Daily Forex Update: CAD/JPY
February - 28 - 2011
CAD/JPY is moving up inside the Rising Wedge chart pattern identified by Autochartist on the daily charts. The Quality of this chart pattern is rated at the 5 bar level as a result of the low Initial Trend (2 bars), average Uniformity (5 bars) and near-maximum Clarity (measured at the
AUD/USD Tentatively Breaks Triangle
February - 28 - 2011
Price action on AUD/USD (a daily chart of which is shown) as of Monday (2/28/2011) has tentatively broken out above a clear triangle consolidation pattern that has been in play since the 1.0250 long-term high was hit at the very end of 2010. This tentative pattern breakout has yet to
Japanese Economy Confirms That Economic Recovery On The Track, As Unemployment Rate Unchanged
February - 28 - 2011
Amid the series of an important fundamental data that released about the Japanese economy, where the unemployment rate unchanged from the previous month’s level, along with the payrolls increased during the period, after the government’s stimulus vowed to increase the payrolls to boost consumer consumption, reflecting the stronger economic recovery
Dollar Softer Amid Data, Diverging Policy Expectations
February - 28 - 2011
The U.S. dollar was weaker amid mixed U.S. economic data and Fed speak. NY Fed President spoke this morning and noted that while the economic outlook was ‘considerably brighter’ it is ‘not a reason to reverse course’ on the asset purchase program. The market viewed this as dovish and increased
Chicago PMI Jumps To 23 Year High, US Recovery Picking Up
February - 28 - 2011
U.S. Dollar Trading (USD) remained under pressure even as US economic data picked up with investor risk appetite encouraging Dollar selling. Chicago February PMI jumped to 71.2 vs. 68.8 previously. In US stocks, DJIA +95 points closing at 12226, S&P +7 points closing at 1327 and NASDAQ +1 points closing
Forex Exchange Morning Report
February - 28 - 2011
US equities rose as oil retreated further and some US data surprised higher. The market took the strong personal income and the Chicago PMI reports as further evidence of recovery, ignoring personal spending and pending home sales. Warren Buff ets pronouncement he was looking for more acquisitions also grabbed the