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There is absolutely zero confirmation of today’s breakout in the S&P 500. Looking at charts of other stock markets and metals, this is almost assuredly a fake out but it could last another 40-50 points.
After trading between 1100 and 1225 since mid-August we broke out to the downside and then snapped back [...]
Rumours like the ones we saw today about trouble at SocGen are just the beginning. The three L’s of the rumour-monger are about to take front stage: liquidation, losses, litigation.
The 17% drop in the S&P 500 since the beginning of July is going to generate fund liquidations. Every holding in a funds will get rag-dolled [...]
The S&P 500 will continue to rebound after the post-FOMC rally but forex market risk trades like AUD/USD will underperform as the market adjusts to the zero-growth reality in the United States.
The FOMC decision set off a wild round of trading. In less than two hours, the S&P 500 traded in a 117 point [...]
Live EUR/USD Chart
