Emini Trading Update – Friday 11 Jan 2013 (16:44)
Tricky trading with such low range days – Friday was only 5.5 points! But at least low range days lead to high range days, so expect bigger trending moves next week.
While Bonds are weak we appear to have capital flowing into Equities. That’s why any sell-offs this week have gone nowhere and we’re inching higher. Could possibly see a blow-off move into the 1,470s this week.
Video of the day …
Stefan Molyneux is an interesting guy. He has a very ardent following – as well as ardent opponents. Personally, I like him and his logical thinking. This presentation is packed with facts about the dire state of the US economy (and particularly employment trends).
Every time I put up videos like this I get a slew of emails saying “Don’t under-estimate America; the USA is the greatest economic power the world has ever seen.” Yes, the last century certainly belonged to the USA – but the data screams that the productive middle-class of the 50s and 60s has been replaced with McJobs, Government jobs and welfare.
Good luck with your Emini trading.