Lots on the Calendar and Lots on the Line! and the TV too…

A full week of scheduled economic events kicks off the first full week of 2008. Store Sales, Pending Home Sales, Consumer Credit, Trade Reports, Import Export Prices all have plenty of weight to push the charts around. Don’t worry about some speed boats playing around in the gulf. Look the other way and move on please…..

Bank of England and European Central Bank Poised to Cut?

Thursday is the really big day to watch as Interest rate decisions are made across the pond from Bernanke and his advisors. The pressure is on the US to lower rates and some are calling for a .50 cut. Is it wise for the UK to keep rates at 5.5% and can the Euro zone hold back from raising rates from 4.0%? It is the wide range of opinions that will likely spike the charts. Be careful! Mark your calendar for January 30th, as you are invited to a free webinar here on FX Street with my live coverage before, during, and after the FOMC announcement showing you live chart analysis and commentary.  Click Here to Register Now.

Classic Chart Pattern - Head and Shoulders

Pound under Pressure as Yen breaks support of neck line. Although nothing in the market is guaranteed, the Head and Shoulders pattern is not to be ignored - especially when it is well formed. Back on December 22 (see prior post) I called this formation at a decision point. Well, if you believe in technical analysis - the pattern is now in play. Being a weekly chart it is on time for a violent move - just in time for Thursdays rate announcement. As always - this blog is for  educational purposes only and not meant to be used as financial or trading advice. (Click on Chart to Enlarge)

US Treasury Secretary Paulson to Host CNBC Tuesday at 8am EST

Say what you want about financial television, It’s entertainment or some might call it “Edutainment”. But traders take note - US Secretary Treasury Paulson is scheduled to “cop a squat” on Squawk Box 8am  EST on Tuesday January 8. This comes a few days after he had a three way with his boss George and Ben last Friday. The friendly banter will probably flow easily between Becky, Joe, and Steve. Maybe Larry Kudlow will be up early to gush on about “The Greatest Story Never Told!”

US Economy -  Mfg and Exporting Rose Colored Glasses

The king of Financial TV networks, CNBC has lately been looking like cheerleaders for US government financial policy with Larry Kudlow proudly standing in front of the US flag, and most of the pundits trying their best to paint a happy face.  Click Here to See article from August 21, 2007

Now don’t get me wrong James Cramer, Rick Santelli, and Art Cashin know what’s happening and are not afraid to say it - but quite frankly I get upset seeing all the happy talk about how great it is that foreign countries are buying the US financial infrastructure and John Thain has to go begging for Meryl Lynch to survive. OK guys - keep re-arranging the chairs and play another tune….

Jerry is an active trader, educator, and Founder of Investors Education Network (IEN), he is also a Mentor and Trading Coach to Select Clients Click Here for a Free Survey and 30 Minute Consultation