Inspite of wining the confidence vote on Friday, Greece PM has to resign this week. The crisis is far from over. Last week Euro zone PMI came at 47.1 and fell 3 month in a row to show contraction in economy. But this news didn't showed up in manipulative media.
Anyways always follow the market. If its rallying upside even on bad news, there is nothing wrong in taking position for upside rally. Don't hold your stocks overnight, till Nov 23rd. There is too much uncertainity in this market.
Technical level on DJI shows pullback of 2000 points from its peak.
The level to watch out are 11716, 11630, 11550, 10824, and 10404. If DJI breaks 10404 then this time DJI is likely to fall below 10000 at 9835. I hope I am wrong this time.
Technical level on S&P500 is 1258, 1219, 1150, 1131, 1044, 1010 and 956. If it breaks the 1010 level this time S&P500 is likely to fall below 1000 mark.
So before the stocks fall down to new level, there will be big resistance at all this level.
At the same time, I am seeing a big rally upward in December till Jan 2012 followed by pullback in Feb and Mar of 2012.
So eventually if your bull in this market, then you will end up not loosing more or may end up break even, but
Again the US debt deal debt is likely to be in main focus in media from this week. The deadline is Nov 23rd.
Hold a position in VXX, ERY, FXE and FAZ if your bearish, but if you think the market is bullish then hold FAS, ERX.
The earning for next week is listed here.
http://www.marketwatch.com/tools/calendars/earningsdaily.asp?cal=2&view=1
Don't hold on a stock before before earning release, as the stocks can pop up 10% or it can fall as much as 20%. Its too risky.
The news is changing this market every minute but keep technical level in mind before investing.
So before the stocks fall down to new level, there will be big resistance at all this level.
At the same time, I am seeing a big rally upward in December till Jan 2012 followed by pullback in Feb and Mar of 2012.
So eventually if your bull in this market, then you will end up not loosing more or may end up break even, but
Again the US debt deal debt is likely to be in main focus in media from this week. The deadline is Nov 23rd.
Hold a position in VXX, ERY, FXE and FAZ if your bearish, but if you think the market is bullish then hold FAS, ERX.
The earning for next week is listed here.
http://www.marketwatch.com/tools/calendars/earningsdaily.asp?cal=2&view=1
Don't hold on a stock before before earning release, as the stocks can pop up 10% or it can fall as much as 20%. Its too risky.
The news is changing this market every minute but keep technical level in mind before investing.
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