I hate the market down, but we need to be alert to all possible movement analysis. I hope the article's view is wrong. I hope the market go up quick, but we need to be prepared if it goes below 7500 .
US future has been slowly rising and it's now at +143 (12:10 AM EST), which is approaching ~8800 level, which has been a pretty strong resistance point. My gut feeling tells me play this to fill the gap, but let's see how Europe market does overnight, and see where this future sits before the open. Also, the auto-bailout vote occurs on Tuesday, so the market may rally ahead of the outcome. Overall, it seems like the market is very carefully testing to see if it can honor the recent lows and slowly rally from here. Short-term trading range is 8200 to 8800. It'll be interesting to see if Dow can break 8800 and stay above it for few days.
If breaks 88 it might go up to 90 then down to 82. Hopefully it will go up to 90 tomorrow so I can put all the way back down to 82. Don't fight the rally just sell with the news.
My gut says it will drop at the open and stay down. But my gut said the same thing last Friday and it ended up 250. How do expect it to play out tomorrow?
this is actually not good for after the open.
And futures are up 110 at 10:30 PM. Doom and gloom and it keeps going up. WTF?
Nice article. Dow is likely not going to 7500 today, but with enough analysts forecasting this, I do believe it'll have to revisit that low to confirm it to spark longer lasting rally than the last fake one over the low-volume holiday week.
you were right but how about today, friday dec 5th?