Charts of the Week for Jan 31, 2012
We apologize for the technical difficulties with the video version of this market update on YouTube. We are working on improving the format of the videos, from a resolution and speed perspective within the constraints of YouTube 's capabilities. Below is a text version of the video report that was published on the morning of January 31st:
Dow Jones Industrials 1.9% away from 13,000
DJ Wilshire International Real Estate Fund RWX - bullish technical base formation
| CHARTS of the WEEK for 01/30/12 | + | Actions | - | ||||||||||||||
| ON TAP | Tues: AMZN erngs PM, Case Schiller, Consumer Confidence | ||||||||||||||||
| Weds:Facebook filing IPO Weds | |||||||||||||||||
| Fri: Labor figures | |||||||||||||||||
| STOCKS | Dow approaching key target resistance level of 13,000 | ||||||||||||||||
| still within shooting distance | |||||||||||||||||
| Stocks bounced off lows pretty solidly post resumed | |||||||||||||||||
| Euro / Greece worries | |||||||||||||||||
| Majority of S&P companies beating earnings expectations | |||||||||||||||||
| record low inflows into stocks by individual invidual | |||||||||||||||||
| investors - a contrarian buy signal? | |||||||||||||||||
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| Semiconductors leading market higher | + SMH , QQQ, MDY | ||||||||||||||||
| LiFi to replace WiFi? | |||||||||||||||||
| UPS forecasts higher profits for 2012 - increased shipping | |||||||||||||||||
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| Case Schiller index -3.7% 2011; cum drop since '06 -37% | RWX 4.22% yield | ||||||||||||||||
| Home construction forming base | |||||||||||||||||
| Occupy Wall Street resuming protests in Oakland, | |||||||||||||||||
| London, New York and Washington DC | |||||||||||||||||
| China CB enters "selective easing" mode | EEM | still some room to move higher | |||||||||||||||
| will be ready to add more liquidity quickly if necessary | |||||||||||||||||
| sectors |
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| BRICS leaning towards monetary easing mode in general | -XLU | ||||||||||||||||
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| BONDS | Fed intends to keep near 0% fed funds rate into 2014 | only buy TLT if it breaks 120.38 level | |||||||||||||||
| Bernanke suggests QE3 not out of the question | and SPY breaks 129.95 on close | ||||||||||||||||
| some analysts say QE3 likely in second quarter 2012 | |||||||||||||||||
| sectors |
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| Munis on a tear but should you buy them up here? | MBB CSJ EMB | ||||||||||||||||
| JNK - take profits | |||||||||||||||||
| Commodities | |||||||||||||||||
| metals | metals stuck in a range, lackluster | ||||||||||||||||
| oil | Crude oil still stuck in a range if not pulling back a bit | ||||||||||||||||
| FOREX | USD/Euro appears to be stabilizing above 126.00 | FXE | 129.50 key support | ||||||||||||||
| FXC | watching for possible break higher | ||||||||||||||||