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Stock Market
Likely To Begin Next Leg Down Soon
Exclusive Story,
Global Talk Radio: According to The Savvy
Trader, GTR's in-house trading talk show, the
global stock markets may be ready to begin their
next leg down. After reaching all-time
highs in October 2007, the markets fell for 17
months until reaching lows in March 2009.
The rally of the past 9 months appears to be
corrective, and the "C" leg down will likely
begin soon.
Full story.
U.S. Dollar
Closer to Beginning, Rather than End, of Bull
Move
By dailyfx.com: This is the same chart
that was published yesterday when [Jamie
Saettele] wrote that "the clearest portion of
the decline is the initial decline that ends at
14670. Since then, price has stair stepped
lower in what could be the beginning of the 3rd
wave."
Full story.
U.S. Stock
Market Considers End of Fed-Fueled Liquidity
By MarketWatch: The U.S. stock market's
ascent has slowed in recent weeks, as investors
brace for the inevitable tightening moves once
the Federal Reserve begins to pull stimulus from
the economy. On Wednesday, the major stock
indexes pared earlier gains as investors mulled
the uncertain timing of when the Fed would move
after the central bank issued a statement that
left its policy stance unchanged, retaining its
"exceptionally low rate for an extended period"
phrasing.
Full story.
Dollar
Firms Against Euro After Fed Statement
By CNNMoney: The dollar rose against the
euro Wednesday, recovering from earlier losses,
after the Federal Reserve announced plans to
hold interest rates steady and said economic
conditions continued to pick up. As
expected, the U.S. central bank held its fed
funds rate, a key overnight bank lending rate,
at historic lows near 0%, the level at which the
rate has stood for a year.
Full story.
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