It was week when majority expected high volatility but exactly opposite happened. Dow jones managed to rally 286 point in 5 day, 557 point in 7 day, 421 point in 1 month, 941 point in 3 month, 399 point in 6 month and 1375 point YTD. S&P500 managed to rally
28 point in 5 day, 62 point in 7 day, 62 point in 1 month, 136 point in 3 month, 71 point in 6 month and 208 point YTD. Now that all the big drama is over, it doesnt mean that rumor series will be over. Spain, Greece, Italy are still in trouble and everyday we'll get same BS from all the media. Rumor and stock market goes hand in hand. This is not going to be over soon. All the rumor is already priced in, so we have to wait and watch when sell the news begin.
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| Algos gone wild at the close in Dow jones |
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| Dow jones friday chart. Dow had to closed above 13,575 which is bullish zone. |
Next week expectation:
Dow jones likely to stay between 13429 and 13653 range. It will be sideway trading. If market remains flat till next Thursday there will be more short squeeze on Friday which is option expiration day. PT: Dow jones should close below 13,429.
S&P500 likely to stay between 1447 and 1475 range. There is possibilities of huge short squeeze on Friday if S&P500 doesn't sell off because its option expiration day. PT: S&P500 should close below 1447.
Nasdaq likely to stay between 3136 and 3195 range. There is possibilities of huge short squeeze on Friday if S&P500 doesn't sell off because its option expiration day. PT: Nasdaq should close below 3136.
CBOE volatility index closed at 14.51 PT for next week 17.44
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| Dow jones weekly outlook. Its likely to stay between 13429 and 13653 range. |
Bearish call on INTC
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| INTC will test 20.40 If it will interesting to see if it survives or break out like 2008. |
