Wednesday Outlook: Getting Ahead of the News

|
 |  Includes: AAPL, AMZN, GOOG, GS, IEF, IWM, IYR, IYT, MDY, QQQ, RSP, SPY, TLT, UDN, UUP, VTI, VXX, XHB, XLB, XLF, XLI, XLU, XLY
by: David Fry

October 6, 2009


SHORT MEMORIES AND GETTING AHEAD OF THE NEWS

We do have short memories, don’t we? It’s like the last two weeks of bad news never happened. The anxiety to erase old news and grasp fresh green shoots is intense and fully operational. So, when Australia raises interest rates, this is the “green shoot” for the day signaling a recovery.

Volume did pick-up substantially today from yesterday’s anemic levels which is good for bulls. Nevertheless, volume does remain below average considering this week’s equity price gains. Breadth was quite positive as short-term oversold conditions were just that—short-term.

click to enlarge
Click to enlarge















































































Go to page 2 - Commodities, Global Markets >>

Comment on this article >>