08/16/2010 After Bell Quick Summary
Today's volume is extremely low.. With three reversal bar and 6 continuous gap down in a row SPY gap down 5 days in a row, what can you expect? For Japanese Candle stick, 3,5,7 are all magic numbers, patterns are recognized in 3, 5 or 7. My guess tomorrow is that it may gap up open. But the market is playing to the bias to the down trend.
Some comments summary from web:
1. Critical support points for S &P 500: 1055 -1075. If it can be hold, the down trend can be relieved a little bit. Otherwise, be cautious it may go down as far as 1010.
Today's market recap:
The Dow Jones Industrial Average (DJIA – 10,302.01) recovered from a triple-digit loss to end only 1.1 points, or 0.01%, in the red. Twelve of the Dow's 30 blue chips ended in the black, with Cisco Systems (CSCO) leading the advancers while Boeing (BA) and 3M Company (MMM) paced the 18 lagging equities. While the index may have settled its fifth straight session south of breakeven, the Dow maintained its foothold atop the round-number 10,300 level.
The S&P 500 Index (SPX – 1,079.38) also recovered from an intraday deficit to eke out a gain of 0.1 point, or 0.01%. Meanwhile, the Nasdaq Composite (COMP – 2,181.87) fared the best of the major market indexes, adding 8.4 points, or 0.4%, by the closing bell.
No comments:
Post a Comment