Wednesday, May 19, 2010

Update Daily Investment News

Sell it All, Risk of 'Major Crash': Dow Theory’s Russell
The author of the closely-watched Dow Theory Letters newsletter warned investors to get out of US stocks now in a report published Tuesday.

Europe May Drop If S&P 500 Breaches 1,110: Technical Analysis
Bloomberg) -- European stocks may be set for a further selloff if the Standard & Poor’s 500 Index and E-mini futures close below key levels, removing an “important source of support” for euro-region markets, according to the head of technical analysis at Mint Equities Ltd.

Oil May Drop to $66 as June Futures Expire: Technical Analysis
(Bloomberg) -- Crude oil may fall to an eight-month low of $66 a barrel in New York when the June contract in New York expires tomorrow, according to Cameron Hanover Inc.

S&P 500’s Candlestick Chart Signals Gains: Technical Analysis
(Bloomberg) -- The biggest drop in U.S. stocks since the bull market began may be over after the Standard & Poor’s 500 Index generated a chart similar to the one that signaled the market’s last bottom, according to Auerbach Grayson & Co.

China Stocks Will Extend Bear Market Plunge: Technical Analysis
(Bloomberg) -- The bear market in Chinese stocks will probably deepen after the nation’s Shanghai Composite Index dropped beneath its low reached in August, according to Bespoke Investment Group LLC.

European Stocks 'Will End the Year Higher': Strategist
Now is a prime opportunity to start buying European stocks, as European companies are not reliant on overly euro-zone strength, Ronan Carr, research analyst at Morgan Stanley, said.

Germany's Merkel Says Euro Is in Danger
German Chancellor Angela Markel, spooking investors on Wednesday by saying the euro was in danger, urged speedy action to stop market "extortion" and said the EU needed a process for "orderly" insolvency of members.

What Will German Short Ban Mean for Investors?
German Chancellor Angela Merkel said Wednesday that the “euro is in danger” and warned that if the “euro fails, Europe fails.”

The Six Best American Blue Chip Stocks: Pros
With small-cap stocks thus far outperforming their large-cap counterparts off the market's lows, is now the time to invest in American blue chip companies?

Daily Forex Technicals |   Written by FXtechtrade
Today's support: - 1.2150(main), where correction is possible. Break would give 1.2124, where correction also may be. Then follows 1.2103. Break of the latter would result in 1.2080. If a strong impulse, we would see 1.2048. Continuation will give 1.2026.
Today's resistance: - 1.2287 and 1.2339(main). Break would give 1.2373, where a correction is possible. Then goes 1.2407. Break of the latter would result in 1.2424. If a strong impulse, we'd see 1.2476. Continuation will give 1.2512.
Today's support: - 91.58(main). Break would bring 91.34, where correction is possible. Then 91.01, where a correction may also happen. Break of the latter will give 90.79. If a strong impulse, we would see 90.37. Continuation would give 90.05.
Today's resistance: - 92.70, 93.04, 93.17 and 93.66(main), where a correction may happen. Break would bring 94.15, where also a correction may be. Then 94.40. If a strong impulse, we would see 94.68. Continuation will give 95.11.
Today's support: - 10479.30 and 10445.63 (main), where a delay and correction may happen. Break of the latter will give 10429.72, where correction also can be. Then follows 10378.13. Be there a strong impulse, we shall see 10352.80. Continuation will bring 10293.72 and 10262.19.
Today's resistance: - 10631.30, 10669.22 and 10711.80(main), where a delay and correction may happen. Break would bring 10734.50, where a correction may happen. Then follows 10769.26, where a delay and correction could also be. Be there a strong impulse, we'd see 10804.63. Continuation would bring 10832.65

Daily Forex Technicals |   Written by India Forex
The EURUSD is currently trading at 1.2200 breaking below our target of 1.2350 (please refer our earlier reports) .We had advised exporters to cover at 1.30 levels for medium term (refer week back update). Bearish-target 1.2000 & below . (EURUSD - 1.2200).
GBPUSD is currently trading at 1.4291 levels . The bias clearly bearish further down. We got some exporters covered few days back at 1.5050 levels (refer previous updates). We have reached our target of 1.45 levels as expected (Refer previous update). We are still bearish on the pair. Target 1.41 & below. Moving towards the target (GBPUSD 1.4291). Bearish.
USDJPY is currently trading 91.96 levels. We have not seen a break of 94.50 consistently since so many days. Moroever we are witnessing a huge risk aversion in global markets pushing usd/jpy lower everytime. Please note that the yen is also not getting strong the way it should be , so any retracements in the currencies would push yen above 94. (USDJPY 91.96) Neutral.
AUDUSD is currently trading at 0.8555 levels. Exporters got booked few days back at 0.9050 levels. Target of .8700 achieved . Bearish Still. (AUDUSD - 0.8555).
Gold is currently trading at $1211.05 levels and its bias is clearly on the upside. It had reached our target of 1st Target of 1200 dollars and 2nd target of 1240 levels. Buying on dips remains the strategy. Start averaging gold at every levels till 1174 and hold for 70- 100 dollars move. (Gold- $12311.05) Bullish.
The Index has also reached our second target of 87.00.  Dollar index's rise from 74.19 has accelerated after staying firm above upper channel resistance. The powerful impulsive move is in line with our view that rise from 74.19 is resuming the long term up trend from 70.70. We'd expect a test on 87 high sooner or later (already reached) depending how fast stock market selling intensifies. Strong support comes near 85 levels . Dollar index is clearly bullish above 80 levels. Still room higher.(Dollar Index- 87.20) Overall Bullish.

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