In lowering its growth forecast for the United States and Europe, the International Monetary Fund (IMF) warned of "severe repercussions" unless drastic measures are taken soon. But don't expect the warning to spawn any real action. "The global economy has entered a dangerous new phase," Olivier Blanchard, the IMF's chief economist said in the report released yesterday (Tuesday). "The recovery has weakened considerably. Strong policies are needed to improve the outlook and reduce the risks." The IMF slashed its 2011 growth forecast for the U.S. economy from the 2.5% estimate it offered in June all the way down to 1.5%. Next year won't be any better: The 2.7% 2012 projection the IMF offered in June was cut all the way to 1.8%.
Read More: http://moneymorning.com/2011/09/21/imf-growth-forecast-u-s-and-europe-will-ignore-warnings-despite-slashed-estimates/
Why We Know Gold Prices Are Headed Higher
Powerful trends are in place to steady gold prices in the near term - and to send prices higher in the longer term. And that means gold remains a solid long-term profit play. And the same is true for gold-mining stocks - provided you pick the right ones. In today's (Tuesday's) issue of Private Briefing - in a report entitled "A "Tidal Wave' of Takeovers is Headed Our Way" - we'll show you how we know gold prices are headed higher. In fact, they have to - and we can prove it.
Read More: http://moneymorning.com/2011/09/20/why-we-know-gold-prices-are-headed-higher/
USD & S&P 500 Technical Analysis. Wednesday Sept 21th - Pre Market Video
US Dollar index is trying to move higher this morning and there is still a very good change we see the rally I have been anticipating any day now.
Gold and silver are starting to look bullish on the short term charts as they test key support level on light volume.
GDX (Gold miner stocks) are looking ready to make a sprint higher. Lower oil, overseas fear and rising gold will help take them higher.
Crude oil continues to hand on by a thread and if the dollar rallies then say good bye to oil. Down side targets for crude are $81, $76, and $72.
Bonds have had a solid run over the past few months but they are starting to look toppy. I am keeping my eye on them for a possible short play using the inverse ETF TBT in the next week or so.
SP500 (broad stock market) is looking toppy and will gap down this morning. Depending what happens with the dollar will play a big role in stocks. I am bearish on stocks at this moment.
See The Video: http://www.thetechnicaltraders.com/ETF-trading-videos/index.html