Bryan Leighton's Blog – June 2010 Archive (24)

The Exxon Mobil and Goldman Sachs Barometer Still Weak

Often many traders and investors will watch the leading stocks in the

sector to identify strength in the stock market. The financial sector

leader is Goldman Sachs Group Inc (NYSE:GS). The energy sector leader

is Exxon Mobil Corp (NYSE:XOM). Therefore, when these two stocks trade

higher the markets will generally trade higher as well. When these two

stocks decline the stock market often declines. Rarely will the stock

markets ever move significantly without these… Continue

Added by Bryan Leighton on June 30, 2010 at 11:02am — No Comments

Here Is the Deal

This morning the U.S. Dollar Index is trading lower by 0.04 to $85.98.

As we all know by now the dollar is the driving force in the market.

When the dollar rises stocks simply deflate, and when the dollar

declines stocks will simply inflate. This inverse relationship between

the dollar and stocks has been very strong for quite a while. Until

something changes and these two charts disconnect or decouple the

dollar must be followed. As of late the stock market has… Continue

Added by Bryan Leighton on June 30, 2010 at 10:20am — No Comments

Bullish Pattern Alert: Inverse Head And Shoulder

The markets and the SPDR S&P 500 ETF (NYSE:SPY) have an inverse

head and shoulder possible breakout coming. Should the markets break to

the upside above the inverse head and shoulder neckline, this market

should head to $109.50 on the SPY. Note the chart below. The markets

are hovering slightly higher on this extremely light volume Monday.

This week the markets are awaiting the Non Farm Payrolls and

Unemployment Rate on Friday. In addition, this coming week is… Continue

Added by Bryan Leighton on June 28, 2010 at 12:46pm — No Comments

Market Master Report

The S&P 500 Index is truly the pulse of the stock market . This

index consists of 500 major stocks that are market cap weighted. It is

important to remember that most people in the public watch the Dow

Jones Industrial Average (INDEXDJX:.DJIA). The DJIA represents just 30

blue chip stocks that are price cap weighted. While the DJIA should

still be followed it is important to realize that just one high priced

stock will effect the index much more than a low… Continue

Added by Bryan Leighton on June 27, 2010 at 2:25pm — No Comments

FinReg Near, Financial Stocks Rally

Financial regulation is almost complete as lawmakers put the final touches on a new bill in the next few days. The financial stocks have been worried about this bill and have sold off accordingly in the last few months. As this saga is now coming to a close, the financial stocks like Goldman Sachs Group, Inc. (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Company (NYSE:WFC) and Morgan Stanley (NYSE:MS) are all starting to rally. Why when the bill is just about to be put into… Continue

Added by Bryan Leighton on June 25, 2010 at 12:23pm — No Comments

Gap Fill Signals Buy For Key Stocks

The markets have been hammered today on the back of more worries about

a major double dip recession globally and in the United Sates. The

SPDR S&P 500 ETF (NYSE:SPY) have been slammed down to the

InTheMoneyStocks master level of $107.50. As this master level was hit,

key stocks filled key gaps and became a short term swing buying

opportunity.



The first stock that looks to be ready to get a short term bounce is

Chevron Corporation (NYSE:CVX). Just… Continue

Added by Bryan Leighton on June 24, 2010 at 12:29pm — No Comments

Housing Stocks Bottom Off Ugly Data

The market moved lower early as more homes sales data shocked Wall

Street. The Commerce Department reported new home sales crashed 33% in

the month of May. Sales fell to a seasonally adjusted rate of 300,000,

this is the lowest rate of all time. Analysts were expecting a drop of

20%. The markets which had opened flat on the day took a nose dive on

this news. However, since then, they have recovered nicely.



Retail investors would have thought this news would… Continue

Added by Bryan Leighton on June 23, 2010 at 1:13pm — No Comments

Markets Ready For FOMC Tomorrow

Monday saw a massive gap higher only to fade and see the markets turn

negative. Today, the markets are hovering around the flat line as the

Federal Reserve begins their meeting on interest rates. The

announcement will come tomorrow at 2:15pm ET. There is little question

that interest rates will remain at their current levels with no raise

in sight, but the key will be the dialogue the Federal Reserve

releases. The markets are likely to remain flat until until… Continue

Added by Bryan Leighton on June 22, 2010 at 1:39pm — No Comments

Financial Stocks Still Clouded By Lawsuits and Regulation

Financial stocks still have a dark cloud over them due to the continued

litigation threat and looming financial regulation. Stocks like

Goldman Sachs Group, Inc. (NYSE:GS), JPMorgan Chase & Co.

(NYSE:JPM), Wells Fargo & Company (NYSE:WFC) and Morgan Stanley

(NYSE:MS) are mixed on the day as the markets hover around the flat

line. The key here is to get the financial regulation behind them. As

long as it hangs over the sector, these are likely to have… Continue

Added by Bryan Leighton on June 22, 2010 at 1:30pm — No Comments

Gold Soars, Small Cap Gold At Lows

Gold is soaring to new all time highs today as the SPDR Gold Trust

(ETF) (NYSE:GLD) is higher by over 1% again. The previous 52 week high

on the GLD was $122.45. Today, the high so far is $123.33. Spot gold

is at $1,259.90, +$12.40. This run in gold is most likely not even

close to over as the printing of money by every major power in the

world continues. As paper money becomes worth less and less due to

dilution, gold in response will go higher.



As… Continue

Added by Bryan Leighton on June 18, 2010 at 11:41am — No Comments

Micro Oil And Gas Starts To Wake

Small cap and micro cap oil and gas plays have been in hibernation for months now. Over the last few days, it appears some are waking up. Investors are seeking these cheap oil and gas plays out

in hopes of seeing more business flowing to them as individuals boycott

and shy away from large cap oil companies. The hatred towards BP is

directly helping these small caps or at least that is what investors

are thinking. In addition, the halt on drilling in the deep water…
Continue

Added by Bryan Leighton on June 16, 2010 at 1:01pm — No Comments

Markets Up, But Cannot Cut Through Key Level

The SPDR S&P 500 ETF (NYSE:SPY) is higher today after the late day

sell that gave up the gains yesterday. While the markets are strongly

higher, they cannot cut through the master resistance level of $110.85

- $111.10. This level is a major point for the markets that

incorporates the pivot high from June 3rd, 2010 and the sixty minute

200 moving average. To get through this level, the financial stocks

which have been lagging must participate. Up until now, the… Continue

Added by Bryan Leighton on June 15, 2010 at 12:41pm — No Comments

Markets Signal Bullish Consolidation So Far

The stock market is hovering around the flat line today after the monster rally yesterday. The SPDR S&P 500 ETF (NYSE:SPY) is down just $0.19 (-.17%) on the day. If the markets can hold flat today,

that will be a victory for the bulls. The real test on the markets will

come in the last hour of trading when traders have to decide whether or

not to hold into the weekend.



If the markets sell sharply into the close and end near the lows of the

day, worry may…
Continue

Added by Bryan Leighton on June 11, 2010 at 1:34pm — No Comments

Markets Live To Fight Another Day

This morning the major stock indexes are all trading higher before the

opening bell at the New York Stock Exchange. It is important to note

that the U.S. Dollar Index is trading lower today by 0.64 to $87.74. As

we know by now when the dollar is lower the Euro currency is trading

higher. It is also important to note that when the dollar is lower most

commodity and inflationary stocks will inflate, and that is certainly

the case this morning. Many leading commodity… Continue

Added by Bryan Leighton on June 9, 2010 at 9:59am — No Comments

Rare Dollar Drop, Euro Pop

The markets are holding on to gains as the SPDR S&P 500 ETF

(NYSE:SPY) are trading positive on the day. The markets have recovered

from some steep selling after the Euro started to rally sharply and the

U.S. Dollar fell off a cliff.



The PowerShares DB US Dollar Index Bullish (NYSE:UUP) has dropped

sharply in the last hour, falling to $25.69 -0.14 (-.54%). This is a

big drop for a currency that has been on a one way track going higher.

The… Continue

Added by Bryan Leighton on June 8, 2010 at 1:24pm — No Comments

Where Does It Go From Here?

This morning the U.S. Dollar index is trading flat around the $88.41

level. Yesterday the market gave up all the early morning gains as the

dollar rallied. Therefore, as we all know by now the dollar is the

driving force behind every move. When the dollar rallies the market

deflates and when the dollar declines the stock indexes simply inflate.

Keep a dollar chart up at all times as this is the chart that matters.



Spot gold is trading higher this morning by… Continue

Added by Bryan Leighton on June 8, 2010 at 9:50am — No Comments

Markets Show Bounce On Commodities

The futures are showing signs of helping the markets gap higher as

commodity stocks hit extremely hard yesterday are bouncing.

Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) along with United

States Steel Corporation (NYSE:X), AK Steel Holding Corporation

(NYSE:AKS) and Southern Copper Corporation (NYSE:SCCO) all sold sharply

yesterday on continued global worries of demand for building metals

like steel and copper. These stocks have been hammered in the… Continue

Added by Bryan Leighton on June 8, 2010 at 9:41am — No Comments

Natural Gas Burns Brightly In Stocks

Natural gas and the United States Natural Gas Fund, LP (NYSE:UNG) have

been one of the few positives in an overall ugly market that cannot

seem to get away from a crashing Euro, global double dip fears and a

Gulf of Mexico oil spill that shows no end in sight. Natural gas has

been dropping for the better part of two years. The top was hit in mid

2008 and since then it has fallen off a cliff and never recovered. Oil

topped out at the same time, but made a bottom in… Continue

Added by Bryan Leighton on June 4, 2010 at 12:10pm — No Comments

The Next Storm On The Horizon

Since the May 25th pivot low the stock market has been buying into the

potential good news. This week the current administration was on the

stomp hyping the current job report for the month of May. While they

were correct as the government jobs soared and the private sector jobs

disappointed badly. The U.S. Dollar Index began to soar around 7:00 am

EST this morning telegraphing this worst than expected May payroll

report. Obviously since the release of the job… Continue

Added by Bryan Leighton on June 4, 2010 at 10:32am — No Comments

Euro Consolidating At Lows Is Possible Problem

The Euro CurrencyShares Euro Trust (NYSE:FXE) has been consolidating at

the lows of the daily chart over the last couple weeks. While it is

clearly trying to make a bottom, one must be very concerned it does not

break through the support. The major support on the Euro can be viewed

on the FXE at $121.50. The Euro is lower again today and under

pressure.



The pattern on the Euro is beginning to become bearish. There has been

little to no bounce and the… Continue

Added by Bryan Leighton on June 3, 2010 at 1:49pm — No Comments

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