Sunday, June 29, 2008
RedDirt's Weekly Update
Can the ECB fight inflation by not raising their rate? If they were to keep rates where they are or even make a cut, it could help strenghten the $USD which in turn would lower commodity prices and at the same time help out a little to combat sluggish growth in Europe. Click Here to read a story published by the president of the Czech Republic that tells why the ECB is in a pickle.The Moosecall is to stay in cash for yet another week. Bill says there is no need to jump in front of a dump truck and I agree. What a mess that would be.
As for the BricTrade. There are some bullish divergences trying to build but no clear buy signal yet on the Charts. I'm watching chart #38 closely. It will let me know when it's time to buy.
Our market's took a big hit this past week with the Dow closing below the January and March lows. The S&P is at its lows hit earlier this year and the Nasdaq has now retraced a chunk of the move up from it's March low but on Friday managed to make a somewhat bullish looking candle on the daily chart. If we're going to have a W bottom in the chart for the SP500 now is the time it needs to start working its way higher. Take a look at the charts HERE.
Thanks for stopping by and good luck with all your trades.
Labels: decisionmoose, RedDirts BRIC Trade, sp500, weekly update
Subscribe to Posts [Atom]
Subscribe in a reader
