Wednesday, December 15, 2010
Stock Market Commentary:
The major US averages continued trading in a relatively tight range as a flurry of headlines crossed the wires. Market internals remain healthy, evidenced by an advancing advance/decline line and an expanding number of stocks reaching new 52-week highs.
Spain Might Be Downgraded & US Economic Data:
Moody’s, the popular rating agency, said it might cut Spain’s credit rating from Aa1 which sent the euro and a slew of European markets lower. The rating agency said they were concerned that Spain’s final bond sale of the year (Thursday) may be soft which could make them next in line to receive a bailout. Spain has to raise 170 billion euros ($226 billion) next year, while refinancing its onerous debt levels, accordingly to data complied at Moody’s.
In the US, NY mfg rebounded and topped forecasts in December which was the latest in a series of stronger than expected economic data. The Federal Reserve Bank of New York’s general economic index rose to +10.6. Elsewhere, a separate Fed report showed U.S. industrial production grew +0.4% which was higher than the +0.3% average estimate.
Market Action- Market In Confirmed Rally Week 16
It is encouraging to see the bulls show up and defend the 50 DMA lines for the major averages. The market remains in a confirmed rally until those levels are breached. The tech-heavy Nasdaq composite and small-cap Russell 2000 indexes continue to lead evidenced by their shallow correction and strong recovery. Put simply, stocks are strong. Trade accordingly. If you are looking for specific high ranked ideas, please contact us for more information.
Sarhan Wealth Management provides both global macro and equity only consulting services to high net worth and institutional clients around the world. For years, our clientele has participated in the firm’s objective market-based outlook, which has one primary goal: to provide robust trading ideas across all asset classes. Since 2004 we have outperformed the S&P 500 on a regular basis. These results are based solely on our weekly research. All our historical data is available upon request.
How we can improve your performance:
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Host Of The #SmartMoneyCircle Podcast, Founder and CEO of 50 Park Investments. Adam provides weekly market updates to ChartYourTrade.com readers. He is a FORBES Contributor and is a frequent guest on all the major financial media outlets.
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Disclaimer: All communication from ChartYourTrade is general in nature and for educational and general informational purposes only. Under no circumstance should it be considered personalized investment advice. All our work is general in nature and not specific to any one person. All the information on this site and/or that originates from us, or any of our partners or affiliates, is for educational and informational purposes only and is NOT a recommendation to buy or sell anything. To avoid any conflicts of interest, we do not have a working relationship with any of the companies mentioned in our work. Furthermore, we may have a long, short, or no position in any, or all, of the names that appear in our work and they may change at any time without notice. Investing and trading in capital markets or using margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. Before you decide to invest or trade in capital markets you should carefully consider your investment objectives, level of experience, and risk appetite, among other factors. The possibility exists that you could sustain a loss of some, all, or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with capital markets, investing/trading, and seek specific investment advice from an independent financial advisor and other professionals. Remember all the information we provide is for educational and general informational purposes only and is subject to change without notice.
Stocks Slide On Possible Spain Downgrade
Wednesday, December 15, 2010
Stock Market Commentary:
The major US averages continued trading in a relatively tight range as a flurry of headlines crossed the wires. Market internals remain healthy, evidenced by an advancing advance/decline line and an expanding number of stocks reaching new 52-week highs.
Spain Might Be Downgraded & US Economic Data:
Moody’s, the popular rating agency, said it might cut Spain’s credit rating from Aa1 which sent the euro and a slew of European markets lower. The rating agency said they were concerned that Spain’s final bond sale of the year (Thursday) may be soft which could make them next in line to receive a bailout. Spain has to raise 170 billion euros ($226 billion) next year, while refinancing its onerous debt levels, accordingly to data complied at Moody’s.
In the US, NY mfg rebounded and topped forecasts in December which was the latest in a series of stronger than expected economic data. The Federal Reserve Bank of New York’s general economic index rose to +10.6. Elsewhere, a separate Fed report showed U.S. industrial production grew +0.4% which was higher than the +0.3% average estimate.
Market Action- Market In Confirmed Rally Week 16
It is encouraging to see the bulls show up and defend the 50 DMA lines for the major averages. The market remains in a confirmed rally until those levels are breached. The tech-heavy Nasdaq composite and small-cap Russell 2000 indexes continue to lead evidenced by their shallow correction and strong recovery. Put simply, stocks are strong. Trade accordingly. If you are looking for specific high ranked ideas, please contact us for more information.
Are You Looking For Someone To Manage Your Money?
Our Private Wealth Management Services Can Help You!
Sarhan Wealth Management provides both global macro and equity only consulting services to high net worth and institutional clients around the world. For years, our clientele has participated in the firm’s objective market-based outlook, which has one primary goal: to provide robust trading ideas across all asset classes. Since 2004 we have outperformed the S&P 500 on a regular basis. These results are based solely on our weekly research. All our historical data is available upon request.
How we can improve your performance:
Contact Us To Learn How We Can Help You!
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Disclaimer: All communication from ChartYourTrade is general in nature and for educational and general informational purposes only. Under no circumstance should it be considered personalized investment advice. All our work is general in nature and not specific to any one person. All the information on this site and/or that originates from us, or any of our partners or affiliates, is for educational and informational purposes only and is NOT a recommendation to buy or sell anything. To avoid any conflicts of interest, we do not have a working relationship with any of the companies mentioned in our work. Furthermore, we may have a long, short, or no position in any, or all, of the names that appear in our work and they may change at any time without notice. Investing and trading in capital markets or using margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. Before you decide to invest or trade in capital markets you should carefully consider your investment objectives, level of experience, and risk appetite, among other factors. The possibility exists that you could sustain a loss of some, all, or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with capital markets, investing/trading, and seek specific investment advice from an independent financial advisor and other professionals. Remember all the information we provide is for educational and general informational purposes only and is subject to change without notice.
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