Forex: Don’t Trust Your Trading to Headlines 8/25/2009 “Fundamental” indicators change with the wind because they apply only to what has already happened. It’s easy to “explain” past market action — try predicting it instead. With Elliott wave analysis, you can. As this chart shows, there is a potentially major...

By Bud Conrad/David Galland, Editors, The Casey Report While we aren’t contrarian for the sake of being contrary, more often than not that is the position in which we find ourselves. Today, with the media falling all over itself to paint a rosy outlook for the economy while simultaneously voicing encouragement to the new administration in its remake...

The NASDAQ 100 closed higher on Tuesday and posted a new high for the year. Profit taking tempered early session gains and the mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are diverging but remain bullish signaling that sideways to higher prices are possible near-term. If September extends this week’s...

Crude oil risks falling toward $71.50 a barrel if prices are unable to surpass a “strengthening level” near $75 in the coming days, according to Societe Generale. Oil has the potential to rise as high as $78 a barrel only if it can push past a $74.65 to $75.25 band, said Stephanie Aymes, a London based commodity technical analyst for the bank....

Frank Statement on Chairman Bernanke Washington, D.C. – House Financial Services Committee Chairman Barney Frank today made the following statement on President Obama’s nomination of Ben Bernanke to serve a second term as Chairman of the U.S. Federal Reserve Chairman: “I strongly support President Obama’s nomination of Ben Bernanke to a second...

The DJIA has been stuck in the low 9,000 point range for most of August, but the talk of “a new bull market,” “a V-shaped recovery,” and tributes to the Federal Reserve for saving the day are getting louder. The optimism is back, as this headline demonstrates: Investors Pile Into Stocks as Risk Appetite Jumps, Merrill...

Courtesy of Mish Ben Bernanke’s self promotional media blitz culminating with Orwellian Madness “Bernanke Saved The World”, was a stunning success for Bernanke in his bid to be reappointed Fed Chairman. Unfortunately, Bernanke’s win is everyone else’s loss.Bloomberg tells the story of his reappointment in Bernanke to Be Nominated...

by CalculatedRisk S&P/Case-Shiller released their monthly Home Price Indices for June this morning. This monthly data includes prices for 20 individual cities, and two composite indices (10 cities and 20 cities). This is the Seasonally Adjusted data – others report the NSA data. Note: I have more on the quarterly national index soon. Click...

Courtesy of Phil’s Stock World Word is our Fed Chairman will be reappointed this morning. This is good news for the markets,who hate uncertainty and settling this matter well ahead of Ben’s Jan expiration date and I agree with Calculated Risk’s take on the subject: “As Fed Governor Bernanke supported the flawed policies of Alan Greenspan...

Courtesy of Tom Lindmark at But Then What For all of the pixels that have been spilled over it, the announcement that Obama will reappoint Bernanke to another term as Chairman of the Fed seems sort of anticlimactic. According to the WSJ, Chief of Staff Rahm Emanuel announced that the President will make it official on Tuesday. Now, the ball will...

Zero Hedge First the Fed, now Goldman Sachs. Hot off the presses: Examiners at the Financial Regulatory Authority, the industry self-regulatory body known as Finra, and the Securities and Exchange Commission intend to ask Goldman for more information on these weekly get-togethers, people familiar with the matter said. This of course is in relation...

Courtesy of AC Investsor Chart courtesy of www.stockcharts.com ( click to enlarge ) Q reversed at the down-trend line and looks to be heading down towards support $3.51-$3.66 range. If the weakness continues and the stock breaks the support at $3.66, there will be a good chance that the stock will test the $3.51 (200-dma ) support. However, if the...

Zero Hedge points out that while in the past VWAP was the traditional strange attractor for intraday price convergence, today marked a stark difference, indicating that either i) whoever was trading did not use any VWAP algos to accumulate/dispose of block positions, or that, ii) [and in keeping with i)], most orders were routed to dark pools. However,...