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CAD Update 2

Posted on November 13th, 2008 at 11:22 AM

The Canadian Dollar continues! We keep breaking through resistance (see the MOB on the chart) and have set up again for another Continuation trade. This time, it's an XTL continuation trade that has pulled back on top of the last MOB we just violated. This should be another good setup, as the overall trend from the Daily is still up.
CAD Update 2

Using eSignal to Find Leading Stocks That Forecast Future Market Trends

Martin Pring
President and founder of Pring Research and chairman of Pring Turner Capital Group
Focus: Stocks, futures and intermarket relationships

Click to enlargePeople buy stocks in anticipation of future profits. The stock market is, therefore, a leading indicator for the economy. In a similar vein, brokerage stocks are a leading indicator for the stock market. This is because profits at brokerage houses increase during bull markets because of higher volume (profitable customers are more active) and more underwritings (companies go public when the price is right).

One of my favorite arrangements in my eSignal application is to plot two 60-minute charts in a stacked format. At the top, I display the S&P Composite and, underneath, the world's largest brokerage firm -- Merrill Lynch (MER). You could substitute the Amex Brokers Index ($XBD) instead. The two charts can be conveniently and easily saved as a layout in the eSignal application.

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