1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Poor Close in Stock Market Could Be Signaling Short-Term Top

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Jul 31, 2009.

  1. futuretrends24

    futuretrends24 New Member

    Apr 30, 2009
    Likes Received:
    Today’s sample of Futures Analysis from FuturesHound.com

    The September E-mini S&P 500 market closed lower on Friday, but managed to hold on to gains for the week. Today’s early session rally failed to take out yesterday’s high despite a better than expected U.S. 2nd Quarter GDP Report. This could be an indication that this market has run out of buyers at current levels and that a much needed correction is likely.

    September Treasury Bonds followed-through to the upside after yesterday’s better than expected Treasury auction. Today’s weakness in the equity markets also contributed to the firm tone in the Treasuries. This could be an indication that investors are taking a little off the table in the stock market and reallocating to the fixed income market.

    September Crude Oil shrugged off a bearish report from earlier in the week and managed to close near the high of the day. Most of this rally was related to the weaker Dollar as traders increased their bets that a recovery in the U.S. economy will lead to great demand for energy and energy products.

    Read 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.

Share This Page