Open:
Big drop in oil, now at 93.50. Target is still the 70's. Unfortunately, it is not translating into a follow through rally in equities. NQ needs to conquer that 5 day moving average, now at 1958.50. The trendline is being tested once again (1947).
There is fear out there that the Feds could follow Trichet's lead (unfounded, I think):
Jan. 10 (Bloomberg) -- European Central Bank President Jean- Claude Trichet said the bank is ready to act ``preemptively'' to quell inflation, signaling it is unlikely to follow the U.S. Federal Reserve and Bank of England in cutting interest rates.
Big drop in oil, now at 93.50. Target is still the 70's. Unfortunately, it is not translating into a follow through rally in equities. NQ needs to conquer that 5 day moving average, now at 1958.50. The trendline is being tested once again (1947).
There is fear out there that the Feds could follow Trichet's lead (unfounded, I think):
Jan. 10 (Bloomberg) -- European Central Bank President Jean- Claude Trichet said the bank is ready to act ``preemptively'' to quell inflation, signaling it is unlikely to follow the U.S. Federal Reserve and Bank of England in cutting interest rates.
This entry was posted
on Thursday, January 10, 2008 at 1/10/2008 10:26:00 AM.
You can skip to the end and leave a response.
» Post a Comment