Is The Global Economy Seriously Beginning To Roll Over?
KingWorldNews.com
March 13, 2014
As the U.S. dollar continues its slide, today KWN is pleased to share an important piece from 50-year veteran Art Cashin, who is Director of Floor Operations at UBS ($650 billion under management). Cashin discusses major markets as well as what is happening overseas and his piece includes an important commentary.
As we have suggested previously, traders await the Ides of March with more than a little wariness. Now they will wait with a large dollop of curiosity.
Stocks Recover Thanks To On Close Buyers – The U.S. markets followed the lead of their off-shore cousins and opened smartly lower, and for the first twenty minutes of trading moved lower still.
The bulls managed to circle the wagons around 1854 in the S&P, which was comfortably above the critical support at 1848/851.
As has become the recent pattern, once the selling dried up and prices held, the buy the dip bargain hunters began to move in.
By 11:30, they managed to move the S&P back to the unchanged basis. For the next several hours, they moved choppily sideways.
The Rest…HERE
