Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Wednesday, the 12th of September.
The big news today is Apple and the possible launch of the new iPhone5. Is this going to be enough to spark the GDP as some have suggested? And in turn, propel the NASDAQ, the DOW and the S&P 500 to new highs?
In other big news today, the German court allowed ratification of the bailout fund with conditions. That positive news out of Germany was enough to raise European shares to 14-month highs.
We still believe that Greece is going to exit the Euro and we still believe that Spain and Italy have problems that have yet to be faced. If interest rates are held down, perhaps they can squeeze by, but the austerity measures are going to be hard to live with for some of these countries.
Are Ben Bernanke and the Federal Reserve going to begin inflating the economy again with another QE program? This would be QE3, and the market seems to be banking on that possibility and more positive news out of the Fed. As we mentioned yesterday, the charts are telling us that something big and positive is going to happen, it's only a question of when. If the third stimulus is approved, that's what is going to propel the markets to move to new highs.
Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
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