Friday, December 3, 2010 Stock Market Commentary: Stocks ended higher during the first week of December after EU debt woes eased and a slew of stronger than expected economic news was released. The market is still in a correction according to outside sources which means a new proper FTD needs to emerge in order to…
It is encouraging to see the bulls show up this week and defend the 50 DMA lines for the major averages. Wednesday marked Day 1 of a new rally attempt for the Dow Jones Industrial Average and the benchmark S&P 500 which means the earliest a possible FTD could emerge for those indices is Monday. Meanwhile, the tech-heavy Nasdaq composite and small-cap Russell 2000 indexes marked Day 10 of their respective rally attempts which means the window remains open for either of those two indices to score a proper FTD. Trade accordingly.
Market Action- Week 3 Of Correction
It is encouraging to see the bulls show up this week and defend the 50 DMA lines for the major averages. Wednesday marked Day 1 of a new rally attempt for the Dow Jones Industrial Average and the benchmark S&P 500 which means the earliest a possible FTD could emerge for those indices is Monday. Meanwhile, the tech-heavy Nasdaq composite and small-cap Russell 2000 indexes marked Day 10 of their respective rally attempts which means the window remains open for either of those two indices to score a proper FTD. Trade accordingly.
Tuesday, November 30, 2010 Stock Market Commentary: The euro sliced below its 200 DMA line and its psychologically important level of 1.30 this week as concern spread that their debt woes will spread. The rally which began on the September 1, 2010 follow-through day ended on Tuesday. November 16, 2010 as stocks and commodities plunged in heavy…