Close:
SPX does indeed find support at its 200 ema (1451.50). It wasn't much of a bounce, but bulls will take it. The battle for the 200 dma will be next week.
The COMP closed right at 2565 support.
Will the Feds announce a cut over the weekend? It's possible, unless they want to wait and see if there are any 9/11 incidents.
The dollar has broken multi-decade support. Constant deficit spending and a policy of running an insolvent government are more to blame than anything else. It's sad to see the mighty greenback taken down this way the past few years.
Enough hysterics about how lowering rates will crash the dollar. Wake up, the dollar is already crashing and it is because rates are too high and throwing us into a recession. So yes, lower rates and the pennies/dollars will take care of themselves.
SPX does indeed find support at its 200 ema (1451.50). It wasn't much of a bounce, but bulls will take it. The battle for the 200 dma will be next week.
The COMP closed right at 2565 support.
Will the Feds announce a cut over the weekend? It's possible, unless they want to wait and see if there are any 9/11 incidents.
The dollar has broken multi-decade support. Constant deficit spending and a policy of running an insolvent government are more to blame than anything else. It's sad to see the mighty greenback taken down this way the past few years.
Enough hysterics about how lowering rates will crash the dollar. Wake up, the dollar is already crashing and it is because rates are too high and throwing us into a recession. So yes, lower rates and the pennies/dollars will take care of themselves.
This entry was posted
on Friday, September 07, 2007 at 9/07/2007 04:19:00 PM.
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