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Archive for June, 2010

Steve Hochberg on CNBC Video: Markets Overbought?

Saturday, June 19th, 2010

Skeptics are still worried the market has come too far, too fast. EWI’s Chief Market Analyst Steve Hochberg joins CNBC Squawk Box host Joe Kernen on April 15, 2010 to share his view.

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You’ve bared witness to the Great Asset Mania with signs such as unsustainable government spending, overvalued stocks and fear of a so-called double dip recession. But is it over and could it rise again? What does it mean for your investments? Originally available to subscribers at $59, you can now download this 16-page report free for a limited time Learn more here.

Daily Forex Analysis – June 18, 2010

Friday, June 18th, 2010

AUDUSD Analysis.
AUDUSD remains in uptrend from 0.8080 and the price action from 0.8666 is more likely consolidation of uptrend. Another rise is still possible after consolidation and next target would be at 0.8800-0.8850 area. Key support is at 0.8505, only fall below this level will indicate that the uptrend from 0.8080 is complete.

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Daily Forex Analysis – June 17, 2010

Thursday, June 17th, 2010

GBPUSD Analysis.
GBPUSD remains in uptrend from 1.4346 and the falling from 1.4854 is treated as consolidation of uptrend. Support is now at the lower boundary of the rising price channel now at 1.4630. As long as the channel support holds, uptrend could be expected to continue and further rise to 1.4900-1.5000 area to reach next cycle top on 4-hour chart is possible. However, a clear break below the channel support will indicate that the rise from 1.4346 has completed at 1.4854 already, then another fall towards 1.4230 previous low could be seen.

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Big Bear Markets: More Than Falling Stock Prices

Wednesday, June 16th, 2010

By Elliott Wave International

Fear and uncertainty that drive a severe bear market are the same emotions which can set the stage for authoritarianism, in most any nation.

"Bear markets of sufficient size appear to bring about a desire to slaughter groups of successful people. In 1793-1794, radical Frenchmen guillotined countless members of high society. In the 1930s, Stalin slaughtered Ukrainians. In the 1940s, Nazis slaughtered Jews. In the 1970s, Communists in Cambodia and China slaughtered the affluent. In 1998, after their country’s financial collapse, Indonesians went on a rampage and slaughtered Chinese merchants." – Bob Prechter, Wave Principle of Human Social Behavior, p. 270

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Daily Forex Analysis – June 16, 2010

Wednesday, June 16th, 2010

EURUSD Analysis.
EURUSD breaks above the upper boundary of the falling price channel on 4-hour chart, suggesting completion of downtrend from 1.3817 (Mar 17 high). Support is now at 1.2165, as long as this level holds, further rally is still possible and next target would be at 1.2450-1.2500 area. Key support is at 1.2045, only fall below this level could turn price back to re-test 1.1876 previous low support.

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A Two-Bar Pattern that Points to Trade Setups

Tuesday, June 15th, 2010

By Elliott Wave International

Some people like to get outside on the weekends, maybe playing tennis or working in the yard. Some people like to visit their friends or cook a big meal or go out to see a movie. And some people who are passionate about their work — such as Elliott Wave International’s futures analyst Jeffrey Kennedy — like to stare at hundreds of price charts on their computer screen to find patterns that point to trade setups. We used to worry for his health but not anymore, because he’s been doing it for years and he comes up with some neat stuff. A case in point is his discovery of a two-bar pattern that he named the Popgun. Find out more in this excerpt from the Club EWI eBook, called How to Use Bar Patterns to Spot Trade Setups.

* * * * *
Excerpted from How to Use Bar Patterns to Spot Trade Setups by Jeffrey Kennedy

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Daily Forex Analysis – June 15, 2010

Tuesday, June 15th, 2010

EURUSD Analysis.
EURUSD’s bounce from 1.1876 extends to as high as 1.2297 level. Now the pair is facing the upper boundary of the price channel on 4-hour chart. Key support is now at 1.2100, as long as this level holds, one more rise to test the channel resistance is possible, a clear break above the channel resistance will suggest that the fall form 1.3817 (Mar 17 high) has completed at 1.1876 already. However, pullback would more likely be seen before breaking above the channel resistance, and a breakdown below 1.2100 key support will indicate that a cycle top has been formed and the bounce from 1.1876 has completed, then another fall towards 1.1800 could be seen.

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Daily Forex Analysis – June 14, 2010

Monday, June 14th, 2010

GBPUSD Analysis.
Being contained by 1.4769 previous high resistance, GBPUSD dropped sharply from 1.4758 last Friday, suggesting that a cycle top is being formed on 4-hour chart. The fall from 1.4758 could possibly be resumption of downtrend. Another fall towards 1.4230 previous low would more likely be seen. Key resistance is at 1.4769, only rise above this level will indicate that lengthier consolidation of downtrend is underway, then further rally could be seen to 1.4900 area.

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Deflation: How To Survive It

Saturday, June 12th, 2010

By Elliott Wave International

Telegraph.go.uk, May 26: "US money supply plunges at 1930s pace… The M3 money supply in the U.S. is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history."

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Yahoo Finance Video 3: Prechter: Bank Reform Will Shrink Credit and Kill the Economy

Friday, June 11th, 2010

The Senate version of financial regulation is bad for business on Wall Street and, according to the Wall Street Journal, could cut the profits of major financial institutions by roughly 20%. Find out why Robert Prechter thinks it’s also bad for the economy in the third excerpt from Robert Prechter’s May 20 interview with Yahoo! Finance Tech Ticker host Aaron Task.

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With you in mind, financial analyst Robert Prechter scoured thousands of pages of his warnings and teachings about deflation. He then handpicked his most important deflation writings and compiled them into a special, unedited, 60-page Deflation Survival Guide. If you havent yet given Prechter’s deflation argument your full attention, you should know now that yesterday was the best time to do so. Download Your 60-page Deflation Survival Guide Now FREE.


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