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U.S. Stock Markets May Be Running Out of Steam

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, May 14, 2010.

  1. futuretrends24

    futuretrends24 New Member

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

    U.S. Stock Indices are trading flat this morning after a limited, rangebound overnight trade. The chart pattern suggests that this week’s rally may be running out of steam after three straight sessions of higher-highs.

    This morning’s U.S. Initial Claims Report may act as a catalyst for a pop in equity prices today but the primary concerns among investors remain the risk of contagion in Europe and the possible slowdown in global economic growth.

    Technically, the June E-mini S&P 500 has a possible upside target at 1190.75 but also faces exposure to a 50% of the recent rally to 1115.50. The old bottoms at 1171.00, 1176.75 and 1179.75 could prove to be strong resistance today. The first sign of weakness will be a break back under a .618 level at 1155.50.

    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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