Monday, December 13, 2010
Stock Market Commentary:
Stocks rallied as the USD fell and China said it will hold rates steady even though inflation is accelerating. Market internals remain healthy, evidenced by an advancing advance/decline line and an expanding number of stocks reaching new 52-week highs.
China’s Central Bank Holds Rates Steady:
China’s central bank decided to hold rates steady even though inflation accelerated to the fastest rate in more than two years. The Chinese central bank held its benchmark interest rate unchanged which helped a slew of stocks and commodities rally. The move also helped allay concerns that the world’s fastest growing major economy will slow down which would adversely affect the global recovery. The US Fed is slated to hold its last meeting of the year on Tuesday. The market believes the meeting will largely be a non-event as most of the news has already been announced.
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.
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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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Stocks Rally As USD Falls
Monday, December 13, 2010
Stock Market Commentary:
Stocks rallied as the USD fell and China said it will hold rates steady even though inflation is accelerating. Market internals remain healthy, evidenced by an advancing advance/decline line and an expanding number of stocks reaching new 52-week highs.
China’s Central Bank Holds Rates Steady:
China’s central bank decided to hold rates steady even though inflation accelerated to the fastest rate in more than two years. The Chinese central bank held its benchmark interest rate unchanged which helped a slew of stocks and commodities rally. The move also helped allay concerns that the world’s fastest growing major economy will slow down which would adversely affect the global recovery. The US Fed is slated to hold its last meeting of the year on Tuesday. The market believes the meeting will largely be a non-event as most of the news has already been announced.
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.
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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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