Yes Its True… The Stock Market is Closed July 3rd for 4th of July Weekend! Dow Tumbles 2.6% Yee Hah!
Jul 3, 2009 Stock Market News
So just sitting around here and someone asked me on facebook if the market was open tomorrow? Of course its open tomorrow why wouldn’t it be? July 4th is on a Saturday right? Well apparently the US was kind enough to lend us another day off and give us a 3 day weekend which is nice because i don’t have to wake up @ 6am tomorrow and get to go out tonight….. But…. always a little bummed as i love trading and kind of disappointed when the market is closed!
On a sour note the broad markets got hammered today with the DOW collapsing 2.63% and 223 points. The overall market is looking pretty toppy and its very possible that we flip to the other side and give the bears another shot at controlling the market.
Looking at the DOW chart right now the recent bull trend is now broken giving favor to the bears already on a short term note. And and even Bigger case for the bears is this nasty Head and Shoulders Pattern that is juuuuuuuussssstt on the verge of breaking down signaling a sell signal to technical traders across the world which could cause a lot of negative momentum. Although news either bad or good about the economy is what can really flip the market in any direction right now. So technically we could breakdown on Monday then the next day some news could come out and turn the market around making it look like a false breakdown. Hard to call these days with so many false signals out there. But overall imo, the market currently looks in favor of the bears.
Happy 4th everyone. Cya Monday!
