We are chart heavy today. I don't think I need to address the Federal Reserve as I addressed it in the past two commentaries (and nailed it) and in last night's webinar. The bottom line, our economy is flirting with recession, depression, stagflation, deflation. You name it, you got it and you better be savvy on your trading, defense, protection, income generation, because your investments aren't going to perform like they did in 2008-2010. Welcome to the NEW ECONOMY - one of majore worries and major hurdles and Volatility - yay!!
To the charts. First, forex and the chart I mentioned in last night's webinar, the GBP/USD on long term support:
Next up is equities and the SPX. I don't think support will hold if our labor data worsens (which the Fed told us it will)
Stocks that are getting to more attractive levels, XLF, JPM and my favorite, USO:
Finally, did you notice claims today? Not good! Oh yeah, if I didn't mention it, the Fed told us that this data would be bad and probably get worse. Employment data rules as reality sets in!!
Happy Trading and Be Environmentally Cool
Coach Brian
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