Stocks extend their winning run to a third straight day as Greece approves debt-reduction measures and Wall Street preps for closing the books on the second quarter.
GBP/USD Testing the 1.6050-1.6090 Resistance Zone
June - 29 - 2011
The GBP/USD is attempting to build strength from a bottom after breaking above the 1.6050 resistance.
However, there is resistance just ahead, with the 200SMA, and pivot zone in 1.6090-1.61 area.
This is a critical cluster of resistance including the channel resistance seen in the 4H chart.
The market has pushed the 1H
Risk Gets a Respite But for How Long?
June - 29 - 2011
The markets have calmed down significantly this week, which has coincided with a drop in the Vix index (Wall Street’s fear gauge) to below 20. The Vix tends to have a negative correlation with risk, so this move is positive for stocks.
The MSCI world index, which is a good indicator
Athens Says ‘Yes’ – Now What?
June - 29 - 2011
As word quickly spread of the ‘yes’ vote in Athens investors sold government bonds thinking that the world could soon resume normal trading activity. The slide in bond prices came to a sharp halt, however, as investors mulled the future, which in reality has changed very little. Greece remains heavily
The US S&P500 had a whippy reaction to the start of today’s trading, but has regained its bearings, reclaiming its intra-day highs. Futures had been higher heading into the Greek vote, then sold off at around the open to yesterday’s closing levels, before rebounding again in late morning trading. European
Risk Gets a Respite But for How Long?
June - 29 - 2011
The markets have calmed down significantly this week, which has coincided with a drop in the Vix index (Wall Street’s fear gauge) to below 20. The Vix tends to have a negative correlation with risk, so this move is positive for stocks.
The MSCI world index, which is a good indicator
Athens Says ‘Yes’ – Now What?
June - 29 - 2011
As word quickly spread of the ‘yes’ vote in Athens investors sold government bonds thinking that the world could soon resume normal trading activity. The slide in bond prices came to a sharp halt, however, as investors mulled the future, which in reality has changed very little. Greece remains heavily
The US S&P500 had a whippy reaction to the start of today’s trading, but has regained its bearings, reclaiming its intra-day highs. Futures had been higher heading into the Greek vote, then sold off at around the open to yesterday’s closing levels, before rebounding again in late morning trading. European