Daily Murmur 02/11/10

by Gary Glover

 QE II and Mid Term Elections loom over the U.S. markets in the next 48 hours.  Quant Easing is particularly important as this gives a clear message of intent about the U.S. economy and whether the Fed thinks things are improving or  whether the economy needs a stimulus.

The Dow Jones remained under the resistance point 11258 (April high) so this is at a key technical point also.  This should be a very important week ahead as a break above the high suggests we should get another kick higher or stopping here will mean we will get a nice pullback also.
I’m leaning towards a pullback but a break through is a possibility as the economy continues to recover.


Gary Glover is an Authorised Representative (Rep No. 259215) of Novus Capital Limited ("Novus"). Novus is a holder of Australian Financial Services Licence No 238 168. Novus, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this page or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter.

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