Thursday, December 30, 2010

Morning Madness

  • Futures are currently slightly negative
  • Jobless claims came in at 388k vs 416k expected (lowest level since July 2008)
  • Continuing claims came in at 4128k vs 4060k expected
  • A lot of strength found in the EUR/USD as it continues off of the 200 day moving average
  • GBP/USD is trapped between the 150-200 day moving average
  • A lot of weakness in the USD/JPY
  • Volume continues to dry up as the year comes to an end
  • Be careful on entering the market with such small volume
Stock Watch

 SBH has a nice ascending triangle as it runs up against support.  Yesterday it bounced nicely off of the lower trendline to put it right back at resistance.  Wait for a break of resistance before entering the trade and a good stop loss is under the trendline.

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