BG,
Let's see if we can get the upper hand on the Dow this week.
Looking at the Dow's Chart at
www.clearstation.com Dow's Chart
Please notice how often up day's occur while above it's 13 day moving average
as compared to when it's below it's 13 day moving average?
Something to think about in the days ahead.
Greenspan testifies before Congress.
As subtle as he may be, he's not one to pull any punches.
Other than indicating a shift towards higher interest rates, don't think
he's going to say that much that he hasn't already said.
Believe one key will rest on net foreign Treasury investment numbers.
Looking for the Dow to run, the fast(Red)MACD line rising above the slow (Blue) MACD line should
signal a run commencing.
Sticking with the trend and of course tradition.[img]i/expressions/face-icon-small-happy.gif[/img]
Up on Tuesday ----------------------------------------------------------------------------------
Greenspan will deliver his semi-annual monetary policy report before the House Financial Services
Committee Wednesday and the Senate Banking Committee Thursday. The speech tomorrow
begins around 11 a.m. ET.
Reports are due on Thursday and Friday on retail sales, consumer sentiment and business
inventories, and that could stir some action in the market.
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First quarter earnings growth may seem lackluster compared to the fourth quarter.
I think rather it will be the second-quarter earnings that impress."
-Ram Kolluri, Cheif Investment Officer at GlobalValue Investors
Fourth-quarter earnings are forecast to have grown around 28 percent year-over-year.
By comparison, First Call currently forecasts earnings growth of around 14 percent
in the first quarter.
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The greenback has fallen nearly 14 percent against the currencies of the United States
major trading partners over the past two years
"OPEC doesn't suffer from money illusion," said Northern Trust chief U.S. economist
Paul Kasriel. "It decided they want an honest dollar for an honest barrel of oil."
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baz