Scalper1 News
After opening lower yesterday, major averages managed to finish the day higher though mixed, noncommittal volume. Lack of strong leadership further underscores the fading strength in this bounce. As some members have noted, money can be made on the short side despite the major averages moving higher, as markets move higher on the basis of quantitative easing manipulations, thus are not representative of internal weakness. Nevertheless, QE can continue to push markets higher as it has done overall since 2009. Indeed, central bankers are proving to be dovish as they are desperate to do anything to jump start the sagging global economy. In today’s news, European Central Bank President Mario Draghi said the central bank was ready to step up asset buying. âWe will continue to meet our responsibility â we will do what we must to raise inflation and inflation expectations as fast as possible, as our price-stability mandate requires of us,â he said, at a banking conference in Frankfurt. Meanwhile, a rate cut from Chinaâs central bank was further fuel that helped to trigger the QE-based rally for stock futures on Friday which are currently up about 0.75% at the time of this writing, with the ground laid for another record-setting session for Wall Street. European markets are currently trading up 1-2%. Network security infrastructure company Palo Alto Networks (PANW) had a pocket pivot. Earnings and sales are robust, group rank 1. PANW announces earnings next week. Scalper1 News
Scalper1 News