Home > Uncategorized > 2012/02/08: Quick Post: Courtesy Access to Rohr Report Brief Update Today

2012/02/08: Quick Post: Courtesy Access to Rohr Report Brief Update Today

© 2012 ROHR International, Inc. All International rights reserved.

Short & Sweet again today. March S&P 500 future pushing so extensively above its resistance at 1,310-15 last Friday is truly impressive, as it also represented a fresh UP Break out of its nominal down trendline across the highs from last May and July. The typical perverse evolution of expectations now applies, as the extended up move means the burden of proof is now obviously on the bulls to put the market up through serial resistances in the 1,352.70 and 1,367 areas.

Especially as the latter of those is indeed the top of the rally into the exhaustion high early last May, with the DJIA and NASDAQ 100 already out at new highs any violation of the old high in the S&P 500 future would represent the final confirmation the equities can likely significantly extend their rally.

However, in spite of the much stronger economic data in the US as well as better indications elsewhere, all of the cards on the fundamental influences may not yet have been dealt. Especially as it regards the ever evolving and recently more creative solution for the Greek Debt Dilemma, there are some key factors which are lurking below the surface of the obvious benefits of the current attempt at an ‘escrow’ deal to prevent a default on the existing debt.

There are two key aspects of that which we review in today’s analysis. The first is that while the current highly creative effort to “kick the can down the road’ sounds appealing, it is open to speculation over what would happen if the resistant bondholders still demand their full face value payment. The second is another key question we (among many others) have asked for some time: Will further austerity accomplish any substantial Greek fiscal rebalancing if those measures further weaken a Greek economy that is already in its fifth year of recession?

We will also be posting a more extensive general discussion of whether those and other broad issues indicate the global economy is really seeing a major ‘frame of reference’ shift based on the recent positive economic data. Until then, enjoy the access to our also concise views through a courtesy look at today’s Rohr Report TrendView BRIEF UPDATE institutional edition as the best way to ensure you have what you need for now.

That includes review of the now far more critical situation is evolving in the long-dated government bonds (especially the UK), and just a bit of foreign exchange overview on the US dollar and the euro. This summary form of background and specific technical contingencies remains very consistent with all of our previous views.

Thanks for your interest.

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