| [img]http://www.joe-duarte.com/images/line_main_top_01.gif[/img] | September 9 , 2011, 08:00 EST | [img]http://www.joe-duarte.com/images/line_main_top_05.gif[/img] | [img]http://www.joe-duarte.com/images/000.gif[/img] [img]http://www.joe-duarte.com/images/pic_03.gif[/img] |
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U.S. stock index futures were lower on Friday morning.Uncertainty about Europe and what Congress will do next are stillworrying traders. President's Hand Picked Solar Firm Raided. Accordingto The Wall Street Journal: 'Solyndra LLC, a California solar-panelmaker once hailed by President Barack Obama as "the future" of cleanenergy, is the target of a criminal investigation into whether itsexecutives knowingly misled the government to secure more than $500million in loan guarantees, said people familiar with the matter.Agents from the Federal Bureau of Investigation on Thursday raided thecompany's headquarters in Fremont, Calif., carting away documents andcomputer equipment as part of the previously undisclosed federalprobe.' Senators meet to push debt deal forward. Accordingto The Washington Post: "More than two dozen senators from both partiesmet privately this week to revive hopes of a grand debt-cutting bargain— exploring how to push the newly formed debt “supercommittee” to findfar more than its assigned goal of $1.5 trillion in deficit reductions.The senators want at least $3 trillion slashed from the deficit overthe next decade. In addition, they plan to press the committee to passa major tax overhaul to lower rates and close special-interestloopholes, as well as changes to entitlement programs such as Medicare,according to several participants." |
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| Congress is back in town. The G-7 ismeeting. And the S & P 500 is struggling to rise above keyresistance. That's what we've got going into the weekend. Chart Courtesy of Gold ($GOLD), despite our willingness to try to short it lately, may betracing a bullish pattern. If you look at the chart carefully, it'sforming a rising wedge or pennant pattern. That's usually a bullish chart formation. And if it plays out, we couldsee a major move above $1900 as the outcome. This bears watching. Chart Courtesy of The negativity is palpable. Yet, the charts suggest that some importanttrading bottoms may have been put in place for stocks and oil. Gold,seems to be in a bullish consolidation pattern. Conclusion The markets are volatile. But the charts say that buyers are taking theopportunity to buy some stocks, and build positions in oil and gold. Of the three areas, gold has the most bullish looking chart. A breakoutin gold above $1900 could be the prelude to a major leg up for themetal. When you understand the big picture, the next step is how tosurvive and profit from what lies ahead. That's why we recommend: p xmVAc6NKDj-mPdMGXwcsdxX6PuG3O7aTjNhnF1bx4RmFpFMwkidfRqnIWzoDDr7MoiOPy9mr3Xyg29wFN4kZnsj5Jhc Ii9mxmU0Kl2WAJd_UQNYTzyUnFZMgf3grA7Bh0BDATMRr3rtCp3EOCGixGVxUFyB451P-Y61lj3m7uO86-BYQczpsHnduE_PzjR-oqyqUp9IB">" |
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