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Value Seekers Help Limit Losses in Stock Indices

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Oct 3, 2009.

  1. futuretrends24

    futuretrends24 New Member

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

    Equity traders shrugged off a sharply lower opening triggered by a disappointing U.S. Non-Farm Payrolls Report to finish off the lows of the day. For the week, however, equity futures were down following last week’s dramatic closing price reversal tops. Value seekers and bottom pickers stepped in shortly after the opening to prevent a complete wash-out to the downside. After the bottom was established early, the markets traded inside of tight range.

    Volatility has jumped in the equity indices indicating that this month could see some violent moves in both directions. Traders feel that based on the recent economic news, equity prices may be too far ahead of the economy.

    U.S. Treasury futures had a good week, but sold off sharply from their highs on Friday, following the stock market rally. Yields plunged early in the trading session after the U.S reported a greater than expected loss of jobs. Technically, both the December Treasury Notes and Bonds are nearing or have reached key retracement levels. The weakening U.S. economy is likely to continue to maintain an upward bias on yields.

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

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