daytrades feb 25 morning ...

Happy Mufti Day Traders,

US Market Report:

Despite this week's drubbing, the bull market still has room to grow, some analysts think.

Stocks have almost doubled from their March 2009 lows, prompting some experts to speculate about whether we're in for a crash landing.

But analysts say it's not time to panic just yet. The money that flowed out of the markets over the past three years is just starting to make its way back in.

"Looking at the bigger picture, there is a lot of room for this rally to continue, and any pullbacks will be small and contained," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.

The S&P 500 is still about 20% off its October 2007 all-time high of 1,565.

It's not all champagne and roses. Some say this bull run is largely due to the Federal Reserve's easy monetary policy, and once the central bank decides to unwind its support, the market will unravel. [Source: cnnmoney.com]

Market Reflections - Thursday, 24th February, 2011

Oil fell back Thursday on reassurances from the International Energy Agency that producers have ample spare capacity and that its 28 members, largely consuming nations, have ample emergency stocks. But revolution continues to sweep the Middle East, keeping uncertainty high and limiting attention on current economic data.

The day's data were led by a very favorable jobless claims report that is beginning to point to sizable growth for the labor market. Durable goods data were mixed but still indicate growth for the manufacturing sector. New home sales were very unfavorable, showing price erosion together with weak sales.

Oil swung up and down to end about $3 lower in the $96 area. Gold lost a little of its safe-haven bid, dropping $10 to $1,400. Silver fell $1-1/2 to $32. Treasuries added to their safe-haven premium with the yield curve down one basis point on the short end and down five on the long end. The Dow couldn't muster a rally, losing 1/2 percent to 12,040 and not helped by a run of retailers which are forecasting slower near-term growth. [Source: bloomberg.com]

Market Focus in the US this evening

Watch for Middle East effects in the consumer sentiment report, especially inflation expectations. [Source: bloomberg.com]
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The DJIA Index finished the last trading session: Down 37.28 points; and
The SPI Futures are currently: Down 14 points atm.
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Of note in the US this evening:

GDP [ Market moving indicator]

Consumer Sentiment [ Merits extra attention]

Janet Yellen speaks
[Federal Reserve Vice Chair - Speech on unconventional monetary policy to the University of Chicago forum in New York.]

...AND...

Of note in Australia today:

Please note there is no noteworthy 'Economic news' due to be reported in Australia today.

[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]
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Gold is currently trading Down $9.60 & is sitting at US$1,402.10/oz atm [Source: Kitco]
Oil is currently trading Down $0.82 & is sitting at US$97.28/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0091c against the US Dollar [Source: Forex. Live]
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Have a great day trading today all.

Cheers, Tweets

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