What do you get if connect these key "Emotipoints" (Emotional highs and lows)… The 1982 low, 1987 High, 2000 high, 2002 low, 2003 low and 2007 high together?
According to Kimble Charting, you get a rare combo of resistance coming into play at Dow 16,000.
The Dow industrials has been hitting record highs and is now less than 500 points (less than 3%) from this potential key technical price point.
From a technical perspective, the trend is your friend … and if the Dow does break above this resistance level, it will be viewed as a big positive by the Bulls.
This week, Prince William, the grandson of Queen Elizabeth II, had a son. That means the new baby is third in line to the British throne; but it could be decades before his reign starts.
According to the Economist, Prince Charles, 64 and first in line, will soon become the longest king-in-waiting.
Since the first William (the Conqueror), the average age of accession has been 3, which coincidentally is Prince William's current age).
The Economist's Big Mac index seeks to make exchange-rate theory more digestible. They say it is arguably the world's most accurate financial indicator to be based on a fast-food item.
The Big Mac index is based on the theory of purchasing-power parity (PPP), according to which exchange rates should adjust to equalize the price of a basket of goods and services around the world. For them, the basket is a burger … a McDonald’s Big Mac.
According to this measure, the most undervalued currency is India's Rupee at 67% below its PPP rate. In India, a McDonald’s Big Mac costs just 90 Rupees on average, the equivalent of $1.50 at market exchange rates.
In America, the same burger averages $4.56.
The interactive graphic, below, shows by how much, in Big Mac PPP terms, selected currencies were over- or undervalued.
The index is supposed to give a guide to the direction in which
currencies should, in theory, head in the long run. It is only a rough
guide, because its price reflects non-tradable elements such as rent
and labor. For that reason, it is probably least rough when comparing
countries at roughly the same stage of development.
A San Francisco Fox affiliate, KTVU, is dealing with the fallout of a major error.
Their report on the deadly Asiana Airlines crash took a turn for the unintentionally offensive when they broadcast the names of pilots in charge of that flight. The mangled Asian-sounding names were, in fact, thinly-disguised expletives mocking the sentiments expressed by the crash victims and their families.
The supposed names of the crash victims broadcast on KTVU included "Sum Ting Wong," "Wi Tu Lo," "Ho Lee Fuk," and "Bang Ding Ow."
A KTVU anchor later apologized for the error. She said that the names were inaccurate in spite of the fact that a National Transpiration Safety Board spokesperson confirming them.
This chart shows the relative change in market capitalizations of four of the largest publicly trading tech companies. It was published on Daring Fireball back in March.
