Financial markets rise on better than expected data • Sean Seshadri mentioned that we are at a significant level on the s&p index and should see a rise in prices as the key indicators aligned after the August 16th close. • The future markets indicated a higher open as Lux investments instructs its traders to look at the foreign markets before the open. • We received slightly optimistic news at 830am as the Building permits and PPI were expected to move the markets.
Financial markets rise on better than expected data • There was a slight increase in housing and a modest jump in industrial production. • The markets initially fell on this news but found a key level of support and then rallied to a close of more than 103.84 at 10,405.85. • There was significant resistance later in the day at a high of 10,480 where investors sold into the close at 10,405.85.
Financial markets rise on better than expected data • The earnings for major retailers were responsible for the increase in trader sentiment which caused an increase in buying earlier in the day. • Sean Seshadri wants traders to look at the strength of individual stocks relative to its broad market, and there large movers in the markets today. • Lux investments during this period of time where volume is light is unsure of whether this move up is significant as many traders are on vacation in the summer months and will return in September.
Financial markets rise on better than expected data • Sean Seshadri stated that the economic reports suggest that the economy is growing although very slowly. • Institutions need to see follow-thru before they put additional capital to work. Overseas markets also faired well in Europe with major indexes rising more than a 1%.
Financial markets rise on better than expected data For more details please visit us on www.luxinvestmentsintl.com