Friday Investment Advice on the Radio
Rallying - Worldwide markets rose this morning. German business sentiment and US durable goods orders came in better than expected indicating cash flush US companies are beginning to spend. US markets are up almost 2% while the TSX is up closer to 3/4%. Gold set another record hitting $1300 per ounce. The Canadian dollar is up to almost 97 1/2 cents.
Reversing- Consequently bonds are lower and the US is lower with the Canadian dollar rallying.
Opportunity- From a technical perspective the S&P 500 appears to have formed a reverse head and shoulder pattern. The S&P 500 has been in a trading range for the summer. This week it reached the highs of both June and August and so far is unable to break through resistance and hold its claim. With todays news will this be a catalyst for momentum to drive the market higher or As I had pointed out earlier September is not a good month for markets and the last 2 weeks usually take the brunt of it. Good time to take profits in some of your stocks. If you have questions you can reach me at 868-5525 or visit yourlifeyourplan.ca.
Reversing- Consequently bonds are lower and the US is lower with the Canadian dollar rallying.
Opportunity- From a technical perspective the S&P 500 appears to have formed a reverse head and shoulder pattern. The S&P 500 has been in a trading range for the summer. This week it reached the highs of both June and August and so far is unable to break through resistance and hold its claim. With todays news will this be a catalyst for momentum to drive the market higher or As I had pointed out earlier September is not a good month for markets and the last 2 weeks usually take the brunt of it. Good time to take profits in some of your stocks. If you have questions you can reach me at 868-5525 or visit yourlifeyourplan.ca.
posted by David Allard at
3:25 PM
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