Tuesday, August 28, 2012

Quite Session Last night

Not much price action, with limited data releases last night. Markets mixed all around, euro ending session higher, sp500 finishing unchanged. I closed my sp500 for a small gain, and eurusd was a scratch.

Low volume rises have long had market skeptics to get on board with the rising trend; an interesting market depicting the state that maybe low volume is a confirmation of a continuing trend, and high volume spikes are now a clearer indication that the trend may be reaching a short term top.  False trends should still be bought, with a clear exit strategy. 

There's seen a rotation into commodity and tech stocks away from the defensive utilities in the current upswing - financials remain clearly the last remaining sector to vote on the current market movements and a strong bullish move in the financials should see a nice continuation breakout in the markets.

A closer look at the deteriorating economics of China 

US home price increasing, another confirmation of continued strength in US housing