Loading...

Friday, November 6, 2009

DOW hangs above ten and so does the unemployment

Never would have thought that if the unemployment went double digits that the market would close up the same day. Go figure! Let's take a look at the market weekly charts. The Dow has a strong bullish engulfing candle and remains above it's trend line, the SPX pushed back above it's trend line and the Nasdaq had a hearty recovery from it's gap down of the beginning of this week. All this strength is confirmed by that big red candle that took out most of last weeks big greenie on the VIX, it just couldn't stay above the 28 level. So where do we go from here? Even the Shadow doesn't know.

0 comments:

Post a Comment