Intraday Market Thoughts

Archived IMT (2009.02.06)

by Ashraf Laidi
Feb 6, 2009 18:57

Global markets further stabilize as the escalating superlatives in the US unemployment gloom increase the likelihood that the Senate will pass the $920 billion fiscal stimulus package as early as today. Stocks rise 8% from their Nov lows, with the S&P500 testing the 50-day MA, set for the first weekly gain of the year. Next resistance seen at 890, Additional gains vs JPY seen in AUD and NOK, while Cable seen capped at $1.4950.


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