Japanese stocks were hammered down as selling pressure mounted after Moody’s Investors Service lowered the nation’s ratings outlook, while New Zealand shares and currency skidded after an earthquake in the country’s second-largest city of Christchurch.
International turmoil in the Mideast and the Dow [Jones Industrial Average] being closed for an extra day have seen European markets lead the way with falls [Monday] and that is affecting sentiment.
US futures are also getting hammered and yes for those of you who are new to the markets the red numbers means selling.
Probably won't last with the FED programs back stopping the markets, but I don't with oil up 8% just this morning alone over Libya refinery shutdowns (wow), commodities at all time highs, who know what they will do, but Big Ben has said there isn't any inflation to worry about, and Washington obviously doesn't really care about debt issues, just play lip service to it.
Lets see if the 20dma holds here, the open will put us at or near that level, see how much pressure there is going to be or people will think of this as a buying opportunity.
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