As I have mentioned in my previous posts, the market looks to be bumping up against resistance levels.  Today was the second day in a row that the indices faded their early gains and it is very possible the buying interest is fading in this area.  Also, the NASDAQ got within 5 points of its [...]

Press Release
Release Date: April 29, 2009

For immediate release
Information received since the Federal Open Market Committee met in March indicates that the economy has continued to contract, though the pace of contraction appears to be somewhat slower. Household spending has shown signs of stabilizing but remains constrained by ongoing job losses, lower housing wealth, and tight [...]

Tomorrow the Fed meets.  What are they going to say?  My guess is they will be pretty quiet, since they have adopted a zero interest policy.  The Fed only has one bullet left, that would be make short term interest rates negative.  They would be paying their borrowers (banks) to borrow money.  Could this actually [...]

1)  I mentioned in a previous post that the VIX looked to have a support level at 40.  Now that index is running back into the 40 level, but this time it is resistance.  Remember when this index rises, it usually spells downside action for the overall market.  Today, the VIX closed at 38.32
2)  (BIDU: [...]

A little side note and then straight into the charts.  Did anyone notice that four banks failed on Friday?  American Southern Bank (Georgia), Michigan Heritage Bank, First Bank of Beverly Hills, and First Bank of Idaho all went down.  That is 29 failed banks this year.  We have already eclipsed last year’s total of 25 [...]