Tuesday, December 21, 2010
Stock Market Commentary:
The major US averages edged higher after after equity markets rose in Europe and Asia. Keep in mind, that this is a shortened holiday week as all US markets will be closed on Friday in observance of Christmas. Market internals remain healthy, evidenced by an advancing advance/decline line and an expanding number of stocks reaching new 52-week highs.
Fed Extends Swap Lines; Economic Data Positive
The Federal Reserve extended its swap lines with the European Central Bank, and the Central banks of: Japan, Switzerland, Canada, and the U.K to help ease dollar liquidity issues. The latest reading on US retail sales was positive evidenced by the weekly measure of comparable store sales at major retail chains, published by the International Council of Shopping Centers and Goldman Sachs (GS). The ICSC/Goldman Sachs index rose +1.7% during the third shopping week of December. The year-on-year pace also rose more than one percentage point to +4.2%, which was the strongest reading since Q2.
Market Action- Market In Confirmed Rally Week 17
It is encouraging to see the bulls show up in November 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.
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.
S&P 500 Hits Pre-Lehman Level
Tuesday, December 21, 2010
Stock Market Commentary:
The major US averages edged higher after after equity markets rose in Europe and Asia. Keep in mind, that this is a shortened holiday week as all US markets will be closed on Friday in observance of Christmas. Market internals remain healthy, evidenced by an advancing advance/decline line and an expanding number of stocks reaching new 52-week highs.
Fed Extends Swap Lines; Economic Data Positive
The Federal Reserve extended its swap lines with the European Central Bank, and the Central banks of: Japan, Switzerland, Canada, and the U.K to help ease dollar liquidity issues. The latest reading on US retail sales was positive evidenced by the weekly measure of comparable store sales at major retail chains, published by the International Council of Shopping Centers and Goldman Sachs (GS). The ICSC/Goldman Sachs index rose +1.7% during the third shopping week of December. The year-on-year pace also rose more than one percentage point to +4.2%, which was the strongest reading since Q2.
Market Action- Market In Confirmed Rally Week 17
It is encouraging to see the bulls show up in November 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.
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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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