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

* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

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.


* If the dots don't connect, gather more dots until they do...or, just follow the $$$...





* Wed. July 31 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
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*** CLICK HERE for link to Economic Calendars for all upcoming events.

Sunday, April 08, 2018

Facebook: Too Big To Fail? Too Big to Regulate?

* See UPDATES below...

We'll see how Congress grapples with those issues, and others, when they grill Facebook CEO Mark Zuckerberg when he testifies before them this Tuesday (Senate) and Wednesday (House).

Facebook faces similar scrutiny by other countries over the coming weeks, so their issues are global and not likely to be resolved overnight.

Source: Reuters via Investing.com

Meanwhile, FB is hovering above its very long-term 23.6% Fibonacci retracement level of 153.37, after being broken twice during the past two weeks, as shown on the following weekly chart. A break and hold below that level could send it down to its next major Fib support level at 127.41, or lower.

You'll note that the momentum indicator plunged to and closed at a new all-time low last week. It's trading well below the zero level, so that, combined with uncertainty tied to global investigations into its business practices (as well as users pondering whether to delete their accounts and advertizers rethinking their strategies), tells me to expect continued volatility and wild price swings for some time to come.

* UPDATE April 9...

* UPDATE April 11 at today's Congressional (House) Hearing...

And during a break at today's hearing -- how ironic...


Question of the Day: Mr. Zuckerberg may be able to "perform" (from a PR perspective as he did in front of Congress this week), but can he actually deliver on all of his promises to, not only work with Congress, but to satisfactorily fix all of the problems at Facebook, as well? We'll see. 

One thing's certain, however...this won't be his last appearance before Congress, as was impressed upon him by some of them during the hearings.


Lastly, one question asked by Congress is now answered. During the hearings, Mr. Zuckerberg insisted that FB is a tech company...that may be the case now, but will move out of the Information Technology Sector and will, instead, become part of a new Communication Services Sector in September 2018

As such, presumably they would be subject to those regulations and government oversight that are imposed on media companies.

Click this link for Press Release issued by Standard & Poor's November 15, 2017

List of Existing Major Sectors

* UPDATE April 23...

* UPDATE May 5...

Perhaps Facebook can foot the entire bill (get used to it...these "geniuses" will soon be running the country)...

Click link to read article at ZeroHedge.com