- 20
- Oct
Free Stock Market Research Report by Jason Ng, the man behind The Star Trading System (one of the best option trading systems)
Last week was one of the most turbulent week any trader has ever experienced with the Dow trading within a 1597 points range (19% range!), ending the week up 401 points.
This week is definitely going to be digestion week for all the data that we got last week. Last week’s economic data seemed to point towards some real recessionary numbers in the months ahead, but that didn’t stop investors from accumulating in anticipation of a bottom. That optimism enforced a short term bottom at around 8500 points, which is an extremely important area supported by the monthly 200MA. The Dow is also forming a triangle formation right now, a typical continuation pattern. Such a formation occurring at this level seems to put the odds in favor of the bears. In fact, I would also expect to see one final capitulation in the stock market due to some real recessionary numbers before a real bottom can be found.
Star Trading System’s Thought For The Day : "Every Morning Marks A Brand New Beginning"
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