Monday, October 26, 2009

On Hold

The Euro pushed it's high JUST a little Sun. night. It may get one more shot at that, but please , when the elephants move toward the exit it's going to get ugly. The short term rising wedge trendline is just under 150.

SP is chopping sideways in an obvious consolidation , with the 1071/1070 lows from last week looking vulnerable.
Hence on hold, waiting for the Euro to finish up, and the SP to gain momentum down.

In other news this weekend, Citibank took itself out of the credit card business.  Ruh Roh .
How The Citi-Grinch Stole Christmas (and Why It's a Good Thing)

 And GS sees the China boom continuing to drive product demand :  
Goldman Maintains $85 Oil Target on `Robust' Demand for Diesel From China Goldman Sachs Group Inc. maintained its forecast for crude oil to reach $85 a barrel by the end of this year on “robust” demand for diesel in China, the world’s second-largest energy consumer.

No comments:

Post a Comment