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Facebook’s chart is carving out a bearish head and shoulders formation. A break below $45.25 with some follow-through sets up a measured move to $36-ish. Stay tuned.
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Check out the strength in financials (XLF). Year end strength is this sector will be just what the doctor ordered to keep the rally going.
The bullish cup and handle formation sets up a measured move to $22.60, or about 6 1/2 percent higher. Stay tuned.
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Elections in Chilé and Nepal, nuclear talks resume for a second time with Iran, and Germany holds hearings into American snooping.
For more video content from The Economist
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Keep Calm and Stay Long! Yikes!
The FT’s US markets editor Michael Mackenzie tells John Authers that the positive response from the market following the appearance before Congress of Janet Yellen, the nominee for US Federal Reserve chairwoman, has successfully opened the door for a rally through the end of the year.
For more video content from the Financial Times, visit http://www.FT.com/video
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Global Macro Monitor 