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Top Heavy Equity Markets Sell Off Into Close

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Jul 23, 2009.

  1. futuretrends24

    futuretrends24 New Member

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

    After a strong surge early in the trading session buoyed by better than expected earnings from Apple Computer after the close yesterday, U.S. equity markets ran out of buyers and broke into the close.

    Technically all three equity markets look top heavy and poised to make a sizeable correction. Fundamentally, traders are concerned that the better than expected earnings are being caused by corporations cutting expenses rather than increasing revenues.

    Tomorrow’s Initial Claims Report should set the tone for the day. Investors will be watching to see if there was another increase in job loss claims. An increase in claims will be a sign the economy is still weakening and that consumers would most likely continue to tighten up on their spending.

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

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