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Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
an expanded version of my trading journal...
* Major World Market Indices
* Futures Markets
* U.S. Sectors and ETFs
* Commodities
* U.S. Bonds
* Forex

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
please read my full Disclaimer at this link.

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Events

UPCOMING ECONOMIC EVENTS...
* Wed. July 1st ~ Canadian Markets closed for Canada Day holiday
* Fri. July 3rd ~ U.S. Markets closed for July 4th holiday weekend

Monday, November 28, 2011

Citigroup has a date with the courts on July 16, 2012

From Reuters today:

A judge on Monday rejected a proposed $285 million settlement between Citigroup Inc and the top market regulator over the sale of toxic mortgage debt and ordered a trial.

In a written opinion, Manhattan federal court judge Jed Rakoff said the proposed settlement was "neither reasonable, nor fair, nor adequate, nor in the public interest."

For their full article, here is the link:

http://www.reuters.com/article/2011/11/28/us-citigroup-sec-idUSTRE7AR1K020111128

Price on their stock, C, is currently trading below near-term major resistance, as shown on the 4-hour chart below...the last candle, which just closed, has formed a shooting star...will see where price goes from here.


Below is a 4-hour chart of the Financials, ETF, XLF. The last candle formed an outside bearish engulfing candle after hitting major near-term resistance...will watch 12.20 and 12.00 in the short term to see which way price breaks out.