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European Financial Problems Fuels Equity Market Sell-Off

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Jan 28, 2010.

  1. futuretrends24

    futuretrends24 New Member

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    Today’s sample of Futures Analysis from FuturesHound.com

    U.S. stock indices sold off early in the trading session as fear swept through the markets. News that Greece’s budget problems could escalate along with Portugal sent traders into the Dollar and Japanese Yen and out of higher risk assets. Lower than expected U.S. economic reports also contributed to the weakness as traders liquidated positions in anticipation of a slowdown in the economy. All three major indices reached major retracement zones on the downside which softened the break and let to a strong midday retracement. What appeared to be panic selling to some may have actually been a normal retracement.

    The March E-mini S&P 500 has formed a range between 1148.00 to 1078.50. This makes 1113.25 to 1121.50 a potential upside target. The charts are also indicating a possible rally to 1842.00 to 1855.50 in the March E-mini NASDAQ and to 10371 to 10445 in the March E-mini Dow.

    Despite the near panic selling in the stock indices and an increase in demand for safety, pressure remained on the March Treasury Bonds and March Treasury Notes. This could mean that the stock break was emotional rather than fundamental.

    Read full article at full article at FuturesHound.com as well as Futures Analysis, Futures Education and exclusive timely market Gann Analysis

    Disclaimer: Trading on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose.
     
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