Intraday Market Thoughts

Archived IMT (2009.04.30)

by Ashraf Laidi
Apr 30, 2009 17:26

President Obama confirms Chrysler's bankruptcy, prompting a modest retreat in stocks, and some gains in USD but no firming in JPY. Check out my twitter updates on financial ETFs for those wishing to capitalize on a retreat in banks and insurers. Our analysis on the 8-week cycle for stocks suggests that global indices could run further gains next week, which coincides with the results from the stress tests. FX pairs presevring their bearish outlook are NZDUSD, GBPUSD and NZDJPY. USDCAD today touched near its 200-day MA for the first time since July.


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