Bookmark This Page For Your Future Use
 Weekly Market Analysis Most stocks follow the general market trend. They tend to rise in price when the DOW, Nasdaq and S&P climb. They tend to drop in price when the markets fall, therefore to be a succussful "odds trader", it is vital to be aware of current market strength and direction. The Stock-Signal-Pro Weekly Market Analysis helps you stay in tune with market technicals for more precise and profitable trading. |
|
Markets Continue Climb On Large Oil Drop The big drop in oil prices last week from over 48 dollars to 42 dollars was the obvious reason the markets continuing to move higher even though they were ripe for a temporary pullback. Oil now sits at a major support level just under $42 on its upward trendline and a key 200 day moving average. If oil experiences price retracement this week it will put pressure on the markets and cause them to sell-off. The Dow has support at its 20-Day Moving Average down at 10,500 but still faces overhead resistance at the 10,745 level. The Nasdaq also has support at its 20-Day Moving Averageis at 2092 but is below a resistance level at the 2150 area. The S&P 500 has support at 1165 as well as 1178 at the 20-Day Moving Average and moved ever so slightly just above a previous resistance at the 1185 level which can only be seen on a monthly chart going back to 2001-2002. All 3 markets are still firmly above their 200-Day moving averages. 
What To Expect This Week The Stochastics are in slightly OVERBOUGHT territory and the markets retraced back up to new short term resistance levels. There is a high liklihood for Oil to retrace which will have a negative impact on the stock markets. Therefore it is very likely that we will see the markets move back down towards their the 20-Day Moving Averages again over the coming week starting as early as the Monday open. The overall technical picture still looks good due to the upside breakout we experienced just after the elections. The markets are in new trading channels now and will eventually need to break up through the resistance levels that I mentioned earlier before continuing the bullish run higher. |
|
Monday December 6th - Current Market Analysis - OVERBOUGHT