It was a day when all the economic data were weaker then expected. Jobless claim rose for second week. Dow was down 137 point at one time and it was in bearish zone but the manipulation rally which happens between 1.30 and 2.30 pm changed the outlook to bullish. Short term it could be bullish but 1 month chart is still bearish which mean there could be big correction. The first level to check for tomorrow in Dow for upside is 13000 followed by 13051 which is important break point for the upside. While for the downside, Dow needs to break 12907 followed by 12874.
There is no economic data so market will take clue from Europe.
For long term investor (3 month time frame) watch out SNDK, RVBD, NOK, PCX, INFY, DNDN
Earning before market opens GE, MCD, SLB, HON, GILD, KMB, AEP, IR.
Stocks likely to open higher MSFT, CMG, ACTG, P
Stocks likely to open lower TPX, EXTR, SNDK, RVBD, RMBS.
Remember there is election on Sunday, if Sarkozy loses market will sell off on Monday.
The first level to check for tomorrow in S&P500 for upside is 1385 followed by 1392 which is important break point for the upside. While for the downside, S&P500 needs to break 1370 followed by 1368.
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| Today Dow chart ending up bullish |
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| 1 month chart is still bearish but thing could change if tomorrow stock open higher |
For long term investor (3 month time frame) watch out SNDK, RVBD, NOK, PCX, INFY, DNDN
Earning before market opens GE, MCD, SLB, HON, GILD, KMB, AEP, IR.
Stocks likely to open higher MSFT, CMG, ACTG, P
Stocks likely to open lower TPX, EXTR, SNDK, RVBD, RMBS.
Remember there is election on Sunday, if Sarkozy loses market will sell off on Monday.
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