$ Index, Not the Start of a Major, New Upleg

Quick move higher in the index from the May 4th low at 72.70. However, the downside pattern is still not "complete", suggesting that the recent upmove is a correction, and with a resumption of the declines (and at least marginal new lows) after. From an Elliott Wave perspective, the

A Rocky Start to May, or Is It An Opportunity?

ldquo;Sell in May and go away” has taken on a whole new meaning after the last few days. Major markets appear to have been uniformly caught excessively long of risk assets (stocks, commodities, and metals) and short USD, which we think was the primary driver of the past week’s declines.

GDP Growth Sputters at the Start of 2011

Rising at a slower-than-expected pace, real GDP grew 1.8 percent in the first quarter. Weather disruptions, higher food and energy prices and a sizeable decline in government outlays weighed on economic growth. Real GDP rose at an annualized rate of 1.8 percent in the first quarter. That turned out to