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Trading was very volatile in 2010 and especially in the second quarter, where the index formed a bearish correctional wave. Correctional waves are usually very volatile with heavy fluctuations which reflected the mixed trading for the year. Assessing the upside wave which started in March 2009 and ended in April 2010, we can see the most accurate description as a complete bullish IM, which was rather clear somehow. The wave was followed by the correction wave which corrected nearly 38.2% of the IM itself from where it entered a new upside wave. The patterns that form an IM followed by a downside correction and an IM are limited, where there are only three patterns: Zigzag (ZZ), Leading Diagonal (LD) and the Impulsive wave (IM). Surely we will exclude the Leading Diagonal (LD) as it mainly requires trading within wedging support and resistance lines and on the chart we can see that the trend was within an ascending channel, therefore the options...

What do I have in common with Nouriel Roubini? We’re about the same age, and we were both born in European countries, although at opposite extremes of the Continent. What’s different? Mr. Roubini thrives on “busts” while I prefer a balanced approach and focus on “booms” and “busts.” We also differ on conclusions. I recall Mr. Roubini’s piece in the Financial Times on November 1, 2009, titled “Mother of all carry trades faces an inevitable bust,” in which he laid out his opinion on the eventual deleveraging of the Dollar shorts and how it would wreak havoc in all markets of all stripes. But one day this bubble will burst, leading to the biggest coordinated asset bust ever: if factors lead the dollar to reverse and suddenly appreciate – as was seen in previous reversals, such as the yen-funded carry trade – the leveraged carry trade will have to be suddenly closed as investors cover their dollar shorts. A stampede will...

By Jon Hopkins LONDON (Reuters) - Britain's top share index held firm around midday on Tuesday, led by strength in commodity shares and a bounce by banks, though volumes were thin as the Christmas holidays approached. At 1146 GMT the FTSE 100

U.S. stock index futures pointed to a higher open on Wall Street on Thursday, with futures for the S&P 500 SPc1 up 0.3 percent, Dow Jones DJc1 futures up 0.3 percent and Nasdaq 100 futures up 0.2 percent. at 1051 GMT. European stocks gained ground in morning trade, extending a week-long rally and hitting a two-year high led by shares of financial institutions such as Societe Generale SOGN.PA and ING ING.AS , while U.S. Treasuries steadied following their recent sharp sell off. Oil climbed towards $89 a barrel and copper hit a record high on Thursday as the dollar weakened. A plan by U.S. President Barack Obama to broadly extend tax cuts moved forward on Wednesday despite opposition from his own Democrats and fear in bond markets of long-term damage to the economy. On the global front, Japan's economy grew a revised 1.1 percent in July-September from the previous quarter, exceeding an initial government estimate, but that offered little comfort to policymakers wary of slowing...

Tom Bradley, President and Co-Founder of Steadyhand, wrote an article on Prem Watsa with a bit more of the factors that have contributed to Mr. Watsa’s success as an investor. Thought I’d share as a follow-up to yesterday’s articles. We also need to remember that Prem is as ‘non-benchmark’ as they come. He goes where he finds value, regardless of what others are doing. He can be seriously out of sync with the overall market for long periods of time, which would be psychological agony for a lesser investor. Being wrong is one thing, but being wrong alone is quite another. Read more here: http://advisoranalyst.com/glablog/2010/12/02/be-like-prem/

U.S. stock index futures pointed to a higher open on Wall Street on Tuesday, after President Barack Obama announced plans to extend tax breaks. At 0950 GMT, futures for the S&P 500, Dow Jones and Nasdaq 100 futures were up 0.7-0.9 percent. The FTSEurofirst 300 index of leading European shares was up 1.1 percent at 1117.37 points, within a whisker of a two-year high, with sectors across the board rising. Irish Prime Minister Brian Cowen was expected to get his fiscal plan through parliament and avert the risk of a snap election. Obama announced a framework agreement with Republicans that would renew tax cuts for wealthier Americans as well as the middle class, as Republicans had wanted. The deal was expected to extend breaks on dividends and capital gains. Japanese group Daikin Industries, the world's second-biggest maker of air conditioners, is in talks to buy U.S.-based rival Goodman Global Group from a U.S. buyout firm, Bloomberg reported. Oil fell from a 26-month high on reports China,...

NEW YORK (Reuters) - U.S. stock index futures were lower on Tuesday as worries persisted over euro zone debt and ahead of key data that will indicate the strength of a recovery in the world's largest economy. The euro slid to 10-week lows against the U.S. dollar, pressuring metals and other commodity prices, after a weekend rescue package for Ireland did little to stem fiscal concerns and speculators targeted other debt-laden countries. 

WASHINGTON (Reuters) - Steps by the Federal Reserve to pump more money into the U.S. economy through government bond purchases could stoke inflation, even though growth will remain moderate through 2011, a survey showed on Monday. The National Association for Business Economics (NABE) said its 51-member forecasting panel continued to rank inflation as a bigger worry than deflation. The survey was conducted between October 21 and November 4. The Fed's November 3 decision to buy an additional $600 billion worth of government bonds to stimulate the economy and prevent prices for spiraling lower has been criticized both at home and abroad. About a third of NABE panelists view the Fed's second asset purchasing program as somewhat lessening the risks of deflation, while another 33 percent saw the step as risking inflation. Still, they forecast the Fed's preferred measure of consumer inflation -- the personal consumption expenditures price index excluding food and energy -- to rise to 1.5 percent by the end of 2011 from...