Dow

sabretoothtigger

DOW takes a swing up today despite an earthquake!

I see it now as top of its range in the summer downtrend. See if it can keep on swinging tomorrow or it hits the floor again, Asia needs to buy the story overnight I think

Mr_Mumble

Japan up early despite Moody's downgrade.

Portugese CDS rise 16.6%, Other PIIGS CDS rise high single digits, BofA continues to fall, Citi & Goldman underperform the S&P by 3%+, Banks & Basic Materials are two of the three worst performing sectors in the US, the yield on t-bills fall (plus the gap to libor continues to grow).....

and the Dow rises 3% (S&P 3.5% & Nasdaq 4.3%)

!

Usually such a contradictory wider equity market is a sign the value of fiat currency has fallen (and given the reason for today's rally is hope for more QE-type action by the Bernank on Friday that makes sense). Yet, Gold fell, off 4% in 24 hours... that is unlikely to be down to the Chinese hiking margins so its probably just a bit of technical exhaustion with gold up 50% over the past year and the chart starting to go parabolic.

StevieJ

Dow finishes on a high, I guess we should have a rebound in Asia overnight after some heavy falls yesterday.

StevieJ

Another Lazarus at the death from The Dow, gained 375 (3.6%) points in the last 40 minutes or so.

Equities rebounded after the S&P 500 fell below 1,090.89, the closing level required to give the index a 20 percent slump from the three-year high reached on April 29. Stocks rose after the Financial Times quoted Olli Rehn, European commissioner for economic affairs, as saying there is an “increasingly shared view” that the region needs a coordinated approach to halt the sovereign debt crisis. After U.S. markets closed, Belgian Prime Minister Yves Leterme said a “bad bank” to hold Dexia SA’s troubled assets will be set up.

http://www.bloomberg.com/news/2011-10-04/asia-stocks-oil-drop-on-europe-crisis-concerns-aussie-falls-to-year-low.html

greenbubble

all summed up rather nicely by zerohedge

""So stocks rose 4% on a plan of a plan to plan a plan for a bank they hadn't heard of until this morning. Hmmm.""

StevieJ

greenbubble wrote: »

all summed up rather nicely by zerohedge

""So stocks rose 4% on a plan of a plan to plan a plan for a bank they hadn't heard of until this morning. Hmmm.""

Hope he didn't get his fingers burnt again

sabretoothtigger

Unless we jump the rails, heres why we are falling once again this week. Enjoy :beer:

sabretoothtigger

^^ We broke out. Ben speaks again today, market needs to hold in general I think. probably will for now


stats:



http://fathom.info/fortune500/

Loughton_Monkey

sabretoothtigger wrote: »

Unless we jump the rails, heres why we are falling once again this week. Enjoy :beer:

The Dow, at 11,627 [while I write] makes the trend lines here look rather amateur.

lvader

Looks like a classic double bottom formation. 12800 before the year ends.