Bill Cara’s Blog for Jan 12, 2012
CTA Trading Desk Morning Report
[8:30am ET] Good morning, Geoff here.
The European Central Bank held interest rates steady following cutting rates twice in a row in order to address the sovereign debt issues. The ECB sees some stabilization and the market rallied off of the news.
Stock market participants are very optimistic right now. Stock futures are higher this morning and the S&P 500 could finally break above the October high and rally up to the downtrend line. If that breakout occurs, that optimism could reach a point that is unsustainable, price oscillators will be overbought and the breakout could fail on bad news from Europe. With that said, we are long, think that most of the European debt worries are currently priced into stocks and welcome the market climbing the “wall of worry”, but caution is warranted and stops will be in place.
Let’s see how the day plays out.
Have a great trading day!
Here are the 7:00am ET snapshots of the latest equity market trading results for Europe, and futures prices plus 5-minute charts of the futures for S&P 500, 30-year US Treasury Bond, US Dollar index, Gold and Crude Oil.
|Symbol||Name||Last Trade||Change||Related Info|
||5.80 (0.30%)||Components, Chart, More|
||13.25 (0.62%)||Components, Chart, More|
||41.13 (1.28%)||Components, Chart, More|
||80.75 (1.31%)||Components, Chart, More|
||1.13 (0.36%)||Components, Chart, More|
|^OSEAX||OSE All Share||454.74
||4.16 (0.92%)||Components, Chart, More|
||4.24 (1.34%)||Components, Chart, More|
||36.02 (0.60%)||Components, Chart, More|
||14.08 (0.25%)||Components, Chart, More|
||11.30 (1.27%)||Chart, More|
||13.12 (1.56%)||Components, Chart, More|
||9.92 (0.67%)||Chart, More|
|GD.AT||Athex Composite Share Price Index||636.86
||7.78 (1.24%)||Chart, More|
The team will check in during the day, reporting in the Discourse when there is a new entry.
Enjoy your day.
Cara on Trends & Cycles
Vad’s Catch of the Day
Kaimu’s Sound Money
CTA Trading Desk Mid-Day Report
CTA Trading Desk Post-Close Report