Month: March 2012

Classic Investment Book, Elliott Wave Principle, Now Available Free:
Robert Prechter has released a complimentary online edition of Elliott Wave Principle: Key to Market Behavior. All 248-pages of this classic investment book can be on your screen in just minutes. Elliott Wave Principle will teach you the 13 waves that can occur in the charts of the financial markets, the basics of counting waves, and the simple rules and guidelines that will help you to apply Elliott Wave for yourself. You’ll learn the method successful investors have used for decades.

Access Your Free Copy of Elliott Wave Principle, Now.

Every successful trader or investor has a method that they rely on to make investment decisions. Without a method, investors must rely on the advice of others or their own emotions to make these decisions.

Elliott Wave analysis provides an objective method to forecast the direction of the markets. This theory was first brought to the public’s attention in 1978, in Frost and Prechter’s text Elliott Wave Principle. This classic book continues to sell thousands of copies each year. If you are at all familiar with technical analysis, you have probably heard about this method and read analysis based on the theory. It is used by successful investors and traders across the globe.

Now you can learn how to apply Elliott Wave analysis to the markets you follow FREE. For the first time ever, Robert Prechter has released an online edition that gives you instant access to the full 248-page book.

Until now this online edition was only available as an added benefit to subscribers of Elliott Wave International.

Elliott Wave Principle will teach you the 13 waves that can occur in the charts of the financial markets, the basics of counting waves, and the simple rules and guidelines that will help you to apply Elliott Wave for yourself. In addition to the theory, you will also learn the mathematical background, including Fibonacci analysis, and you’ll see examples of Elliott applied in indexes, stocks, and commodities.

As Prechter and Frost state in the Author’s Note:

“We trust our readers will be encouraged to do their own research by keeping a chart of hourly fluctuations of the Dow until they can say with enthusiasm, ‘I see it!’ Once you grasp the Wave Principle, you will have at your command a new and fascinating approach to market analysis.”

If you are looking for an objective, time-tested approach to trading the markets, try learning the method that successful investors have used for decades!

Access your online edition of Elliott Wave Principle – Key to Market Behavior, now. It’s FREE.

About the Publisher, Elliott Wave International
Founded in 1979 by Robert R. Prechter Jr., Elliott Wave International (EWI) is the world’s largest market forecasting firm. Its staff of full-time analysts provides 24-hour-a-day market analysis to institutional and private investors around the world.

Being contained by 1.3290 resistance, EURUSD pulled back from 1.3284, suggesting that a cycle top is being formed on 4-hour chart. Further decline would likely be seen later today, and next target would be at 1.3050 area. Key resistance is at 1.3290, only break above this level will indicate that the fall from 1.3486 had completed at 1.3003, then the following upward movement could bring price to test 1.3486 previous high resistance.

Daily Forex Forecast

Department-store retailer Macy’s (NYSE:M) unveiled a three-year plan on Wednesday in an effort to boost business from the younger generation. The company is aiming to increase its product offerings and improve the shopping experience in its mstylelab merchandise segment and Impluse segment. Both brands are catered toward the 13-30 demographic.To improve the shopping experience, the department store is planning in-store improvements as well as a new marketing strategy. The company estimates the younger generation spends about $65 billion annually for the type of goods it sells. Macy’s (NYSE:M) has potential upside of 6.8% based on a current price of $39.7 and an average consensus analyst price target of $42.42.

Exxon Mobil (XOM) was upgraded today by JP Morgan (JPM) from underweight to neutral with a $92 price target, as the stock is undervalued at current levels. Shares are lower by about six tenths of a percent.

Raytheon Company (RTN) announced its quarterly dividend of 50 cents per share, an increase of about 16% over its prior dividend in December of 43 cents. The company will pay the next dividend on May 3 to shareholders of record on April 4.

In trading on Thursday, music & electronics stores shares were relative leaders, up on the day by about 0.9%. Leading the group were shares of Hhgregg (HGG), up about 3.8% and shares of Radioshack (RSH) up about 1.9% on the day.

Source: ForexYard

Crude oil made a sharp downward movement on Thursday as an array of news affected currencies and commodities across the board. The biggest factor in crude oil’s drop on Thursday was the poor PMI numbers from China. This follows after weeks of indications that China’s manufacturing sector had been shrinking in recent months. Additionally, overall demand from Europe continues to drop, further influencing Thursday’s drop for crude oil.

While the U.S. released actual numbers on its crude oil inventories that were far below market predictions, the price of oil still dropped considerably and hovered close to 104.64 for most of Thursday afternoon. Heading into Friday, investors will want to keep an eye on whether or not domestic data from the U.S., including the recent drop in unemployment claims, has any influence on crude oil.

Forex Market Analysis provided by ForexYard.

© 2006 by FxYard Ltd

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.

By TraderVox.com

Tradervox (Dublin) – Shaky Eurozone PMI has caused the euro to decline against the safe haven currencies. The PMI result came in below the 50 boom-bust value indicating contraction in the market. The euro declined against the yen and the dollar after the manufacturing and services index contracted more than forecasted for the month of March. This has boosted demand for the safe haven currencies hence increasing the value of the yen and the dollar against the euro.

The Japanese currency advanced against all the major currencies after the release of the report showing a decline in the manufacturing index in China. Many economists have raised concerns about the state of the global economy following the report. South pacific dollars were the worst affected by this report declining to their lowest in two months. The two largest economies in the euro region registered unexpected declines in the industrial index forcing the Stoxx Europe 600 index to drop for the fourth day.

The euro declined against the yen as reports from Japan indicate that the economy is better off. Economist and analysts are keeping a keen eye on the 82.85/65 support zone for the USDJPY pair as they try to establish signs of retracement. After the China report and the eurozone PMI reports, the Australian dollar slid by 0.8 percent as the New Zealand dollar declined by 0.9 percent to settle at $1.0377 and 80.85 cents respectively.

Steve Barrow, a Standard Bank Plc Analysts in London, indicated that the report from the euro region is a big blow to the improvements that have been made over the last few months concerning the euro zone crisis. He said that the reality of the euro-zone economic improvement “myth” has dawned on the investors causing a decrease in risk appetite.

The euro declined by 1.1 percent against the yen to settle at 108.98 at the beginning of the New York session and also dropped against the dollar declining 0.4 percent to sell at 1.3159. The yen increased against the dollar by 0.7 percent to sell at 82.83 yen per dollar.

Disclaimer
Tradervox.com is not giving advice nor is qualified or licensed to provide financial advice. You must seek guidance from your personal advisors before acting on this information. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. Opinions expressed at Tradervox.com

are those of the individual authors and do not necessarily represent the opinion of Tradervox.com

or its management. 

Article provided by TraderVox.com
Tradervox.com is a Forex News Portal that provides real-time news and analysis relating to the Currency Markets.
News and analysis are produced throughout the day by our in-house staff.
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Source: ForexYard

More negative news for the Euro-zone as the Euro weakens against the Yen and the Dollar. The Euro took a slide due to an index of the euro -area manufacturing and services which contracted for March,more than  then expected.The Euro-zone takes another hit, as such a result can only add to concerns of a slowing European economy.

Over the last few months we have seen the Euro-zone economy show signs of improvement and some surprisingly positive outcomes, however this latest setback will cast even more shadows over the future of the Euro.

This morning saw the greenback appreciate over most rival currencies with the exception of the Yen.The Dollar rose against its Australian and New Zealand counterparts after the news that Chinas’ purchasing managers’ index fell to a weaker then expected 48.1 in March.

We head to the Yen as the major currency strengthened against 16 currency rivals after Japan reported an unexpected trade surplus for the month of February, another indicator of the Japanese economy showing good signs for the future.

More positive news for the Yen as the currency moved towards its first five-day advance in 7 weeks against the Greenback as a result of Japans’ finance ministry reporting the amount of exports exceeding imports by 32.9 billion Yen. This latest data suggests that Japans economy is showing signs of  improvements. Continue reading “Euro Takes A Hit whilst Dollar & JPY Strengthen”

Unemployment is high. Gas prices are soaring past $4. And the stock market has doubled within the past three years. Does this bull market really have legs?

It’s hard to argue with someone who just won’t see the facts for what they are.

Over the weekend, I was talking to an acquaintance about the stock market. He said he didn’t believe we were in a bull market.

“The stock market has doubled in three years!” I said incredulously. “What more proof do you need?”

Apparently a lot more. The person pointed to high unemployment, gas prices soaring above $4, and every other negative in the economy and geopolitical scene that you can point to as a reason not to own stocks.

And that’s just fine with me. The more doubters we have, the more likely the market is going to run up. I’m going to start getting worried when people are extremely bullish and talk at cocktail parties revolves around the stock market.

Here’s why I believe the market still has legs:

• Headlines – I’m still seeing headlines about market corrections, the market going up too much too fast, etc. On Sunday, the Financial Times had a story titled “Wall Street Braced for Hit to Soaring Markets” chronicling analysts’ bearishness. Let them be scared. When was the last time those analysts made anyone money, anyway? When those headlines become bullish, I’ll get worried.
• Wall Street “Experts” – The market has already topped the expectations of most Wall Street strategists. At the beginning of the year, the average forecast was for the S&P to hit 1,363 by the end of the year. The highest target price was 1,515. Goldman Sachs’ U.S. Equity Strategist said last week that he’s sticking with his end of the year forecast of 1,250 for the S&P 500.
• The “fear” trade is over – We’re seeing bonds and gold head lower. These are investment vehicles people buy when they want safety. They’re rotating out of these assets and are putting them to work in stocks. The market is sending a very clear message that the panic of the past few years is finished.

I’ve said this many times before – the market is a forward-looking mechanism. Over the past few years, as stocks were heading higher, even when the economic picture was still bleak, I told you that stocks were telling us things were going to improve.

And while unemployment is still too high, things are much better. Joblessness has dropped from 9.9% at its recent high to 8.3%. Underemployment, which includes part-time workers who want full time jobs and people who have stopped looking, is at a three-year low at 14.9%.

Sales at restaurants were up 8.7% in February, indicating people feel more comfortable with their financial picture. Personal income was up 5.1% in 2011 and personal savings rose 4.6% in January, suggesting that Americans have more money in their pockets now than they have had over the past three years when both of those figures were declining.

Business is picking up all over. Try to get into a decent restaurant these days. They’re packed. Revenue in Las Vegas was up 29% in January. When was the last time you had an empty seat next to you on an airplane? My conversations will realtors all indicate a significant pick up.

Are things perfect? Absolutely not. There are still people hurting and businesses that are struggling. And although the problems of the past few years were very real and significant, this time wasn’t different, and the economy and markets rebounded like they always have.

I suspect there’s plenty of upside left in this market. I expect us to hit the recent highs in the S&P 500 of 1,576. Strong stocks like Apple (Nasdaq: AAPL), Las Vegas Sands (NYSE: LVS) and Qualcomm (Nasdaq: QCOM) should continue to lead us there.

Good Investing,

Marc Lichtenfeld

Article by Investment U