Monthly Archives: August 2010

An interesting chart development in the S&P 500

I have been mentioning in recent pieces my opinion that Wednesday’s bounce off the S&P 1040 S/R level marked an interim cycle low and that risk would be bid in the near term. Using that assumption, an interesting pattern is … Continue reading

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Is Hungary about to witness fall 2008-like volatility all over again?

Hungary is mired in a double whammy of declining economic data and forced austerity from the IMF. H1 2010 GDP was -0.6% s.a. and as global growth concerns come to light, it can only spell trouble for Hungary’s already-weak internals. … Continue reading

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Guest post: Will summer’s end bring a bear market’s beginning?– The market’s dreaded month, t-bills, and Elliot wave trades

Submitted by Aaron Murphy.

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UK CPI batters sterling as risk sees appetite on back of POMOs & US IP

Again, from my previous post:I will be updating this blog on about a weekly basis with market commentary, as well as articles on specific topics. I will instead also be providing daily market commentary in newsletter .pdf format. If you … Continue reading

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Gold outperforms as more bad news from EU emerges

I will be updating this blog on about a weekly basis with market commentary, as well as articles on specific topics. I will instead also be providing daily market commentary in newsletter .pdf format. If you would like to subscribe … Continue reading

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USD Rally

The ECB announced today that two European banks used up $430M in FX swap lines, underscoring the very real shortage of USD at banks and the consequent forthcoming demand for dollars. Meanwhile, Eurostat is forcing Germany to consider its holdings … Continue reading

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Ahead of FOMC

The Fed meeting tomorrow will most likely result in an announcement of MBS proceeds reinvestment into Tsys, in our opinion. This expectation is shared by a number of market commentators, including Goldman Sachs’s Jan Hatzius. The Fed may not have … Continue reading

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