BMO Commentary
10 Mar 2010
Gold: Best Supporting Role In Economic Downturns? Think Again
Gold's safe-haven status is based on hype, not history
by Nico Isaac
Everywhere you look, from the Red Carpet to Wall Street, gold is definitely in
"fashion." As for why, one word comes to mind: safe-haven. See, according to the
mainstream financial experts, the more unstable the global economy, the greater
the appeal for the precious metal. These two charts from EWI President Bob Prechter
offer another perspective.
Read more
.
0730.ET
All World Markets/Futures are mixed-flat right now.
QQQQ/SPY are currently Trading at 47.15 / 114.75
QQQQ Resistance is at ???
QQQQ Support is at 47.0x, then 46.5x, then 46.0x, then 45.30-45.50
SPX Resistance is at 1150 then 1150.50
SPX Support is at 1141, then 1139.50
The US Dollar is still up high .. hovering around 80.80 now.
81.40 is overhead Resistance that would be a Bullish breakout.
79.80 is initial Support . . Watch for a move below 79.50-79.60 to
signify major weakness.
Gold Support/Resistance is 1060/1160.
Two Big Economic Events out BMO today .. both at 0830.ET.
Today might be the day when we get a directional break-out . . .
everything will depend on the 0830.ET numbers that come out.
Subscribers, go over the Charts I've been Posting all week for breakout scenarios.
Elliott Wave Principle
Q&A With Robert Prechter: Why Technical Analysis Beats Out Fundamental Analysis As the major stock markets turned down in late 2007 and then started to rally in March 2009, many people who believed in fundamental analysis have begun to question its validity. Read More .
Same Day. Same Event. Same Market. Different Story!
"There is no group more subjective than conventional analysts." -- Robert Prechter.
Elliott wave analysts sometimes hear the criticism that patterns in market charts
can be "open to interpretation." Does that happen? Absolutely. (Although, there
are tools an Elliottician can always employ to firm up the wave count.) But
here's the real question: What's the alternative? Here's Bob Prechter's take on
it.
Read More
Surviving Deflation: First, Understand It Deflation is more than just "falling prices." Robert Prechter explains why. The most common misunderstanding about inflation and deflation -- echoed even by some renowned economists -- is the idea that inflation is rising prices and deflation is falling prices. General price changes, though, are simply effects. Effects of what? Keep reading to find out.
How Elliott Wave Principle Can Improve Your Trading The Wave Principle identifies trend, countertrend, maturity of a trend -- and more. Every trader and analyst has favorite techniques to use when trading. But where traditional technical studies fall short, the Wave Principle kicks in to show you high probability price targets and, just as importantly, how to distinguish high probability trade setups from the ones that traders should ignore. Here's how ...
