The search for safe port is continuing. With 2008 crisis, investors found safe firstly Dollars, then Gold and Swiss Francs to invest. Gold prices are decreasing since Ladin has been captured by USA. Investors are not comfortable with low Dollar interest rates. Low interest rates of Dollar, and insecure perception of Dollar with the borrowing limit issue of USA, make American Dollars worthless. We know that it doesn’t matter how much debt USA is in, they are still a safe port for investments like stocks and bonds.
Gold investment fund (GLD ETF) has closed Wednesday at 126.1. While 122.3 was my support point, 129.4 was my first resistance point. I don’t expect a persistent pricing under 190.
Sales in the stock markets are continuing. Dow Jones investment fund (DIA) has closed Wednesday at 147.8. In the upcoming days, I will be positioned to sell at 127, but my first target is 138. 142.9 is my first important support point.
Development of technology and increase of the importance of social media have triggered the rising of Nasdaq. When social networking sites like Twitter, Facebook and Linkedin have become more important, corporations like Apple, Microsoft and AT&T became even more valuable.
When CIA agent Snowden announced that NSA is keeping all of the world under surveillance in June, these kinds of companies were supposed to be wore down. Of course NSA is guilty, but Yahoo, Google, Verizon, AT&T and Microsoft are too. NSA is kept out of agenda by first Syria and then borrowing limit of USA. This case will bring out even bigger chaos theories in the upcoming days
Nasdaq invesment fund (QQQ ETF) closed at 77. With 71 as my first target, I will be positioned to sell at 55. 73.9 is my first important support point. My resistance points that I consider substantial are 77.65 and 78.3
S&P500 investment fund (SPY ETF) closed at 165.6. 154 and 141 are my targets. My first signicant support point is 162. 167.8 and 168.3 are my resistance points.
Reporting by Alper Korkmaz
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