Market comments for Sept. 19, 2011
We are technically still in that tight range of between 11,000 and 11,500 and not emphatically broken out of the range on either side of it. Europe is still in crisis and the group of European Finance Ministers did not listen to Treasury Secretary Tim Geithner this weekend in his plea for them to stand together and do whatever is necessary to bail out Greece, even if it means to print more Euros. This has caused our Futures markets to be down before the open. The Dow for example is down about 185 points. The European markets are down today about 3% or more and this will come here as well. Oil is down over $2/barrel. So we now make a reverse turn after Friday's Sept. Options Expiration and head back towards Dow 11,000 and retest once again.
This week the Fed plays a big role in market impact. Stay tuned to see what they have decided.
This week the Fed plays a big role in market impact. Stay tuned to see what they have decided.
Labels: European markets, Futures, Greece, Oil prices, The Fed, Tim Geithner, Treasury Secretary
posted by Charles Amico at 6:09 AM
2 Comments:
Morning Charles,
The markets are in need of some very bad medicine along with Europe, Yes they can throw money at it and that is what the most likely will do but until they hit the core of their problems they will continue into decline and drag others with them. Fiat currency always fails, the Euro and thus the economy over there I think will see more failure, bad news for all.
I don't have any issues with your comment. Things are going to be bad for everyone because those who own a big piece of the pie, chose not to share while those who own the rest are always being asked to share.
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