This Stock Market Hours Report is brought to you by Jason Ng, Founder, Master ‘O’ Equity

The Dow stood its ground valiantly against the relentless waves of ruthless assualts by sellers, weak existing home sale report, growing oil price and bad earnings release. Wave after wave of sellers slammed into the shields of it’s Phalanx but it never gave ground nor gave way, defending the last line of defense around the 13500 hot gate. More than half the day have passed before the waves of sellers exhausted themselves allowing the Dow Phalanx to prouding advance and hold ground. By the end of the trading day, much of the lost ground has been retaken. The King would have wished for more time to push into positive territory but time, as usual, wasn’t his ally.

Tomorrow’s main mover would definitely be the jobless claim report, or what is correctly known as the Weekly Claims For Unemployment Insurance report. This indicator is released by the Department of Labor since 1967. Increased unemployment dampens spirits and affects spending going forward, that is why it is now an important leading indicator. Investors are definitely looking forward to a drop in unemployment claims in order to paint some optimism into the generally pessimistic picture now.

The King stands fast and the Phalanx looks strong… what do you think?

Another scary day, wasn’t it?
CIEN went into a type 1 last gasp action (please read the Star Trading System’s manual if you do not know what it means) and scared the hell out of most of you. That is the reason why we hold doji day stop loss… if you use another other means to control loss during the first 2 days, you are risking a stop out unnecessarily.

Thought For The Day : “Traders Never Predict The Future… Traders Prepare For It.”

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