Markets Slammed Into Master Level On Recovery Worries

inthemoneystocks SG

The markets gapped sharply lower on the back of continued global concerns over growth and specifically the U.S. recovery. More and more data points to another double dip recession in the United States. After the initial gap down at the open, the markets traded at a major daily technical support level on the SPDR S&P 500 ETF (NYSE:SPY) at $105.80. This happens to be the pivot low going back to the July 20th, 2010 shown on the chart below. The markets traded in this range into the 10am ET economic data release of the Existing Home Sales. Existing Home Sales fell by a stunning 27.2%. This rocked the market causing a collapse down to the even number of $105.00. The markets quickly bounced back over the next 30 minutes to the $105.80 level and are currently trading slightly above that master level. This level continues to be one to watch. If the markets were to close below, look for further downside to $101.00 - $102.00. As long as the SPY stays above that $105.80, the markets could trade flat to higher.

What caused the bounce back higher? The horrible economic news caused a collapse in the dollar. The PowerShares DB US Dollar Index Bullish (NYSE:UUP) dropped from $24.22 to $24.05, allowing the markets to bounce back up. The inverse relationship between the dollar and the markets lives! As the dollar helped get the markets back above the master $105.80 level, light volume has now taken over and they are floating neutral to higher. Truly a wild ride today in the markets.

Gareth Soloway

Harrison Prosser SG

Hello,

My name is Harrison Prosser. I am British and live in Altrincham, Cheshire. (20 mins drive away from old trafford stadium for any Manchester United fans out there).

My father is a successful network marketer. He has introduced me to a concept that has simply blown my mind.

The concept is very simple, give away a free application that will help people save money and earn a 'pay per click income' in return. The payment structure is out of this world and anyone can become a licensed distributor, whether it be someone with a full time job looking to make a bit of extra cash with their spare time, a business owner who can see the advantages in being able to promote their website, logo and products on the front page of every major search engine anytime somebody types anything into the search box and also gets paid for this.

Or whether it be somebody like myself who can see the phenominal potential in a worldwide market to make an absolute fortune within the next 12 to 18 months.

If you have 6 minutes spare please do watch the link below.

The product is still in its pre launch stage here in the UK, but has had massive success since its launch in the US. Approachable pre launch terrirtories now include Australia, New Zealand, Malaysia, Singapore, Holland, Denmark, Norway, Germany and Sweden.

For individual entrepreneurs watch:

http://www.teamgenieglobal.com/intro.htm

For business owners watch:

http://www.msginnovation.com/79058/

For anybody who wishes to download the 'Free App' visit:

http://www.pixabillion.com

There is no working application in the new territories yet. However by downloading the US/UK version you will get an idea of how the App works although it will be price comparing in the US and UK markets. Pending formal new territory launch which is anticipated over the next 30 to 60 days

For a more detailed explanation of the compensation programme visit:

http://www.screencast.com/t/MzM1MjMxOTUt

For further information please do not hesitate to contact me.

Best regards,

Harrison Prosser

Email: [email protected]

tel: +447985 250 352