Trader's Edge- Art Cashin
Countdown to the opening bell, with Art Cashin, UBS.
Mortgage Conference Aftermath
Inside on the markets and mortgages, with Brian Battle, Performance Trust Capital Partners and CNBC’s Rick Santelli.
Inside the Freedom Tower
An exclusive tour of the Freedom Tower, with CNBC’s Scott Cohn.
EU Debt Under Question
The European Union has received a letter from nine of its members calling for a change in the way the debt of EU countries is calculated. Peter Attard Montalto from Nomura has analysis.
Flurry of M&A News Lifts Stocks
Tuesday, August 17, 2010
Stock Market Commentary: The technical action in the major averages is not ideal. Currently, resistance for the Dow Jones Industrial Average is its 200 DMA line, while the Nasdaq composite faces resistance at its 50 DMA line. Meanwhile, the benchmark S&P 500 index managed to close above its 50 DMA line but still faces resistance near its 200 DMA line (1,116) and then its prior chart highs near 1,131. The action in leading stocks remains questionable at best which is another disconcerting sign. Tuesday’s action does not change our cautious outlook. Put simply, we can expect this sideways/choppy action to continue until the market breaks out above resistance or below support (recent chart lows). The first scenario will have bullish ramifications while the second will be clearly bearish. Trade accordingly.
Markets Digest Housing Data
Insight on the markets following the release of housing starts data, with CNBC’s Rick Santelli.
What the Big Names Own
Airtime: Mon. Aug. 16 2010 | 7:16 PM ET
A look at what big names like Warren Buffett are holding, with CNBC’s Tyler Mathisen.
German Investor Sentiment Falls
German investor sentiment fell sharply in August, according to the ZEW index Tuesday. Frieder Mokinski from ZEW, Carsten Brzeski from ING Bank and Dan Greenhaus from Miller Tabak & Co. consider the outlook.
Egypt Looks to Double Exports
“We aim seriously to double our exports in the next four years,” Rachid Mohammed Rachid, trade and industry minister for Egypt, told CNBC when discussing the outlook for the Egyptian economy Tuesday.
Head & Shoulders Top Or Double Bottom?
It is also important to note that the major averages are currently tracing out either a massive head-and-shoulders top or a potential double bottom pattern. There are two possible scenarios from this point: the market will trade above the middle of the “W” (dotted line shown above) or it will take out the neckline of its H&S top (recent lows, not shown). Only time will tell which pattern prevails. Patience is paramount until either pattern resolves itself. Trade accordingly.