The charts tell one story, the people on CNBC tell another. . .sometimes I believe that CNBC can see the reversal coming. Maybe they are helping certain funds/institutions exit out of their positions just before the reversal so they pump a certain ideal. I dont see anyone on CNBC getting up to explain a possible trend reversal like the guy in this video. I think I might subscribe to Businessweek afterall. The charts do not lie, but people do. I say trust the chart.
CNBC profits increase during bullish markets. That's the whole logic imho, so they are trying to push it as much as they could. Technically, the Nasdaq and SP500 have shown some evidence of getting tired. On the other hand, the Dow looks tough. Maybe the other indexes are waiting for Dow to show some weakness before the major dump. BTW, the ER2 on Friday didnt look so hot.
Neet, do you really think that ER2 and Dow are correlated? I trade only ER2 for a 1 year and now discovering trading on data so I'm interesting about correlation as well. Form other ET thread I've red that there is no correlation that ER2 is totally detached from big-cap indices. Could you advice me what to watch except macroeconomics data? If there is special stocks or oil price? thank you P.S. sorry for my english, not a native language
Bel, I just recently started getting familiar with futures, so wish, truly wish I could help. For economic data briefing.com is pretty good. Even the free service works. Neet