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Stocks Finish Higher ahead of Alcoa Report

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Jul 12, 2010.

  1. futuretrends24

    futuretrends24 New Member

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

    U.S. equity markets see-sawed most of the trading session before settling higher. After the markets closed, Alcoa reported a quarterly profit in line with pre-report expectations.

    September E-mini S&P 500 futures found support early in the session at a 50% price at 1066.00. Holding this level is the key to further upside action to perhaps 1081.00. A break through 1066.00 is likely to trigger sell-stops and possible cause an acceleration to the downside.

    Early weakness in the stock market helped boost September Treasury Bonds and Treasury Notes, but investor demand for higher yields and a firming equity market weighted on both markets into the close. Although the main trend is up, the charts indicate a correction to 125’25 is likely over the near-term.

    Read full article at ForexHound.com as well more Forex Trading articles including Forex Technical Analysis and Forex Education

    Disclaimer: Trading foreign exchange on the 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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