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Where to From Here

August 13, 2010 – 4:54 pm

Retail sales numbers for July came in this morning and they were mixed but came in as expected. It was a nice change as most economic numbers recently have been weaker than expected. Earnings this week are still coming in very strong as the earnings season begins to fade.

Germany reported some very good numbers reducing fears about Europe and China reported weaker numbers than they had before as they tried and succeeded in slowing their economy. The numbers were still very strong, just shy of double digit growth. The world appears to be doing better than the U.S. We are starting to see a small break between the U.S. and other emerging or emerged countries. India and China have domestic markets that are growing fast and that is helping those economies greatly and that has helped Germany’s exports. The world economy is here and doing well. The U.S. is in a position of catch up. Not a good place to be.

The attention will turn away from earnings as the discussion focuses on the possible double dip recession. Comparisons of economic data from June to July will be important. Until a clear signal is seen the stock market is likely to trade sideways.

Good Trading
Steve Peasley

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