Recession Nasty Reload: Event Horizon (Stock Charts) |
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| By Todd Dornan.. |
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| I am a registered Independent. I wish to make that point
clear right at the start, I'm not a Democrat. I don't care much for Fox News, Glenn Beck, style of Republicans which place politics in their technical analysis of gold. I do not believe any stock trader has got to let political favoritism to influence their technical analysis. However when two political parties are in a struggle over the economy and it is having an influence on the stock market, you have got to incorporate political parties in your analysis. Democrats are trying their best to improve the economy before the November elections to win votes while Republicans are doing their best to hinder any policy that could boost the economy heading into the November elections. This assertion is not really a political prejudice declaration, it is just the way it is. Republicans are presently jamming movement on a bill to boost the economy, preserve jobs for teachers and police, and help people buy their first home; another bill which would hold oil companies liable for any disasters they cause by removing the current $75 million liability cap; and most recently the extension of unemployment benefits. Over the previous 3 weeks, 3 million people have been booted off unemployment: that's about 1.2 million people a week. Major news outlets recently reported that for every job opening at McDonald's there are 250 to 600 applications turned in. Many of the people applying for jobs at McDonald's hold graduate degrees. I have myself contacted Republicans in the Senate who have alleged the logic for why so many people are on unemployment is not because of the economy but because of their own slothfulness and reluctance to work at jobs like McDonald's. I would like them to guide by way of example, you know, actually show us ordinary people how it's done. I have challenged those same Republicans that have made those disgusting statements, to resign their jobs in the Senate and to go and get a job at McDonald's. I was of the opinion that leading by example was the Republican style. I've even extended the challenge to Rush Limbaugh considering that he has voiced the same accusations critical of the majority of sincere, hardworking Americans who are out of a job right now. Not a single Republican in the Senate, nor Rush Limbaugh has accepted my challenge. The screener on the Rush Limbaugh radio program hung up on me in fear that my challenge would expose the hypocrisy in the Republican establishment. Again, I'm not a Democrat. I just see a gang of wealthy power thirsty elites criticizing the common folk and I wish for them to put up or shut up. If it is so simple to lower your standard of living and how much you make, to go get a job at McDonald's, why don't you go do it? Right, that is what I thought you yacht riding, $500 for a haircut, manicure, and back massage, pansies. Unemployment in my city, Fresno California, just went above 16%. I watch the Republicans forcing a super majority on pretty much any legislation that could play a role to an improving economy before the November elections. I am trying my best not to be prejudiced about this subject and to just tell you the facts. You have to consider this battle between the two parties into account when you are chatting about the chart of the SPDR S&P Homebuilders ETF (XHB) and the likelihood that we will go into a double dip recession because according to this stock chart, that is precisely where we are ultimately going. Conceivably the most worrying guage I see on the daily chart of the SPDR S&P Homebuilders ETF (XHB) is the Burial Cross. The stock chart says that the Burial Cross will take place next week. Although everything I have just told you is more the long term trend. Short term, we have set up into a nice swing trade with a bounce off upper downtrend channel resistance. This coming leg down move is virtually picture perfect. Anyone shorting the stock market right now is going to get at least a week of a nice downward sell off in the markets. In this episode I examine the great swing trade trend channel on the SPDR S&P Homebuilders ETF (XHB) and why now is the moment to go short this market for a quick 5% to 10% profit. |
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| Article Source: http://interpret.zar.vg | ||||
| About The Author You have to know which way a stock is trending to time your entry, you must see this mind blowing article on how 10 trades turned into $38,000 at stock market and stock trading master video at stock market analysis |
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