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Mid-Day Report: Markets Stay in Range Despite Strong US Consumer ConfidenceMarkets are still bounded in tight range today as trading activities were subdued with UK and Canada markets on holiday. US Conference Board Consumer Confidence jumped sharply from 55.2 to 64.5 in December, comparing to expectation of 58.5. S&P Case-Shiller 20 cities home prices dropped more than expected by -3.4% yoy in October. Swiss UB consumption indicator dropped to 0.81 in November. From Japan, corporate service price index dropped -0.2% yoy in November. Housing starts dropped -0.3% yoy in November. |
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| Featured Technical Report | |
USD/JPY Mid-Day OutlookDaily Pivots: (S1) 77.95; (P) 78.08; (R1) 78.17; More. USD/JPY's fall from 78.22 temporary top extends further to as low as 77.81 so far in early US session but the pair remains in tight range so far. Intraday bias remains neutral. Price actions form 76.57 are treated as the second leg of the correction pattern from 79.52 only. Hence, while above 78.22 will bring another rise, upside should be limited well below 79.52 and finally bring reversal. On the downside, below 77.61 will argue that the third leg has started and will flip back to the downside for 77.13 support first. Break should confirm and target 76.57 and below. |
| Economic Indicators Update | Don’t miss the largest investor and trader gathering in the World—The World MoneyShow Orlando, February 9-12, 2012 at the Gaylord Palms Resort. Be there as recommendations and advice are revealed for how to best position your portfolio for profit—in 2012 and beyond. Register Free Today! | |||||||||||||||||||||||||||||||||||||||||
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Merry X'mas and a Happy New Year, no update next week, next Candlesticks and Ichimoku Trade Idea update will be made on 2 January 2012 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||
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2012 Outlook
Fundamental Highlights
Technical Highlights
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