A Very Happy new year to all my readers !!

The NYSE and the Nasdaq will close at 4 p.m. on both Dec 31 and Jan 2. Volume should be below average this week as many portfolio managers will be on vacation.
All the best !!
Sincerely,
AC

Chart courtesy of www.stockcharts.com ( click to enlarge )Labels: Statistics
Chart courtesy of www.stockcharts.com ( click to enlarge )
Chart courtesy of www.stockcharts.com ( click to enlarge )
Opening the veil on 2009, it will be recommended to maintain a cautious attitude towards the stock market, especially with regard to investments with shorter horizon 3 to 4 months, as high macroeconomic difficulties and high uncertainty and risk will have an impact on this class of assets. The sentiment towards global equity markets has become more dangerous at this moment, so the situation should continue to be marked by instability. The volatility in the market will therefore remain high for some time. This effect becomes more dangerous in a market with little liquidity as we have seen lately . In recent months, the macroeconomic risks have increased significantly for developed economies and have had a more obvious impact on the results of major companies, many analysts are anticipating a negative growth in first 6 months in these economies. The most important key catalysts of the companies still exist, but I believe that there is still a great distance to go before the market is sufficiently strong to release it.
Chart courtesy of www.stockcharts.com ( click to enlarge )
Chart courtesy of www.stockcharts.com ( click to enlarge )
The New Year is coming up fast and no hopes for a better economical environment are in perspective. During 2008 we saw a sharp deterioration of conditions in financial markets initiated by the sub-prime crisis. In a global economy, and building on the complex connections between different markets, the absence of a solid financial system will bring inevitable setbacks in the growth of the real economy. The complete rupture of the channels for granting credit on a global scale will have unpredictable consequences on global economic growth. The recovery of the economies after a crisis in the banking system is generally slower as a result of the transmission mechanisms of monetary policy does not work as expected. Thus, I believe the growth of economies will only appear and accelerate just in 2010, supported by an improvement in the conditions of access to credit and, secondly, the relief in prices of food and energy goods, which should provide for an acceleration consumption. At this moment the economy environment we're in is extremely tough, and unfortunately, I can't see the bottom nor to predict a good beginning of the year for financial markets.
Chart courtesy of www.stockcharts.com ( click to enlarge )
Chart courtesy of www.stockcharts.com ( click to enlarge )
Chart courtesy of www.stockcharts.com ( click to enlarge )
The index of the U.S. economic indicators fell 0.4% in November, the fifth time in seven months, indicating that the U.S. economy will continue to deteriorate in the coming months. The index of economic indicators, calculated by the Conference Board, is a measure of the direction the U.S. economy should follow within three to six months. The index fell 0.4% in November, after having fallen 0.9% in October, released today by the U.S., according to Bloomberg. This indicator confirms the forecasts of economists that the recession in the United States will be the largest since the Second World War with banks limiting credit, the value of shares and real estate will fall and unemployment will rise. The economical problems are not behind us like many people are saying, the worst may be in front of us.
Chart courtesy of www.stockcharts.com ( click to enlarge )
Chart courtesy of www.stockcharts.com ( click to enlarge )
Chart courtesy of www.stockcharts.com ( click to enlarge )
Chart courtesy of www.stockcharts.com ( click to enlarge )
Chart courtesy of www.stockcharts.com ( click to enlarge )
Chart courtesy of www.stockcharts.com ( click to enlarge )
Chart courtesy of www.stockcharts.com ( click to enlarge )Labels: Citigroup, Goldman Sachs, JPM
Italy is the most recent European country to enter in recession. Early in the morning the Italian institute of statistics confirmed the recession of the country's economy after the GDP has retracted 0.5% in the third quarter of the year against the previous quarter, which is the worst since the last quarter of 1998. Italy joins now the group of European countries that are already in recession as Germany, Sweden or Ireland. I think more countries will join this group in the next months. The economy of the biggest countries in Europe is collapsing faster than I was expecting.
We are living consecutive days of gains in the US indices without fundamental reasons. People are buying stocks just believing they are cheap, But are they really cheap? I’m not convinced at all. The big slowdown in housing, the falloff in retail sales and the vertical drop in the LEI (leading economic indicators) are already signalling a deep recession and more troubles for companies ahead.Labels: TXN
Chart courtesy of www.stockcharts.com ( click to enlarge )

I'm a 44 year old Independent Trader using proprietary technical analysis with more than 20 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.


