Technical talk: S&P 500 testing support

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“The S&P 500 Index, after stalling below resistance for much of May, has now slipped below its lower channel line and is testing price support again at the 875 level. If the 875 level is violated the market will become more defensive and expect selling to materialize quickly as traders will look to lock in remaining profits from this rally,” said technical analyst Kevin Lane. […]






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No, I don’t want to hear about your portfolio!

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Not everybody will see the humor is much reduced portfolio values … […]






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Credit machine not yet fixed

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Although the rates at which banks lend to each other have eased considerably from their peaks, banks have cut back significantly on the amount of money they are actually lending. Meanwhile, the excess reserves of banks hit a record $877 billion. A peak in the excess reserves should coincide with the global credit system returning to normal levels and liquidity starting to move freely again. […]






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