The U.S. Dollar Tries On A Relief Rally

The U.S. dollar rallied into the Federal Reserve’s latest decision on monetary policy. This move seemed to launch (finally) the start of a relief rally that I have tried to anticipate as the dollar approached its support at the 200-day moving average (DMA). The uncertainty over the outcome of the Fed decision encouraged me to … Read more

The Affluent Are Afflicted

Bob Shullman, President of Ipsos Mendelsohn, appeared on CNBC Tuesday to hawk the latest results of his market research company’s “Affluent Survey.” The affluent are afflicted with recession-related blues but remain ready to spend. The affluent control the majority of America’s income and wealth: they constitute 20% of all American households, but earn 60% of … Read more

links for 2010-08-10

Scripting News: Google vs iPhone and Facebook It's as if Google, not knowing who is winning the war, is fighting it everywhere, just in case it turns out that's where the true enemy is hiding. That's how big rich companies that are scared compete. Everyone needs to get a piece of the battle. (tags: Google … Read more

The U.S. Dollar Breaks Down

The recent descent in the U.S. dollar continues nearly unabated. Even as I pointed out the importance of the 200-day moving average (DMA) for the U.S. dollar, deep, deep down inside I felt the U.S. dollar would finally put up a fight at this key support level. The trends that have brought us to this … Read more

Netflix Recovers from Post-Earnings Losses, Akami Still Trying

This is a quick post demonstrating two stocks recovering from post-earnings losses, that is, filling post-earnings gaps down. Netflix (NFLX) surged 7% on Friday on strong buying volume, smashing through resistance at the 200-day moving average (DMA), and filling a gap created from post-earnings disappointment. Not wishing to press my luck further, I sold my … Read more

First Solar Limbo

As expected, First Solar’s earnings last week did not print any big surprises. Read a brief summary provided by earth2tech or flip through the earnings presentation for more details. The mixed results provided no clear trading catalyst, putting key technical levels in play that I was looking to trade. Support at the 200-day moving average … Read more

Rally in the British Pound Is Over-Stretched

The rally in the British Pound may finally be on its last legs. I am sure the Bank of England hopes so as it meets to decide interest rates tomorrow. I wrote just last week about the potential for the pound to break out versus the U.S. dollar, and it has done so quite convincingly. … Read more

25 Years of Decline for the U.S. Dollar vs the Japanese Yen

The U.S. dollar index touched its 200-day moving average with the kind of precision only a technician can love. *Chart created using TeleChart: I keep waiting for (and betting on) the dollar to get a nice relief bounce against the yen, but the dollar’s near straight-line descent has been the main story. While I wait … Read more

Another Critical Juncture for the U.S. Dollar Index

Here we are again: The U.S. dollar index looks ready to test its 200-day moving average (DMA). The near unrelenting selling of the dollar against all the major currencies has left the currency grasping for its believers. A surprisingly strong jobs number on Friday, might, just maybe, provide a catalyst for some kind of relief … Read more