Dow Technical Analysis And Sector Snap
Oct 11, 2009 Stock Market News, Technical Analysis
Black Service Stock Picks – Real Time Trade ALerts up +115% in 2009. Nearly +1700% since 06′ : FREE TRIAL
The DOW made an impressive rally last week after the previous week appeared to show a decent amount of momentum for the bears. Yet as we’ve seen many times before in the past months, any sell offs are followed up by a huge short squeeze as the DOW rallied near its all time recents highs to cap the week @ 9,864. 10k is going to be a huge pschological resistance mark for the DOW to breach so this will be an interesting next couple weeks coming up. Especially since we have Q3 earnings coming up that will swing the market with heavy volatility.
Yahoo Finance quote:
“JPMorgan Chase & Co. issues its results Wednesday, followed by Goldman Sachs Group Inc., Citigroup Inc. and Bank of America Corp.
In all the corporate reports over the next three weeks, investors will be looking for signs of improvement in the economy. From the banks, investors are hoping to see some sign that consumer loan defaults, including mortgages, are starting to level off. They’re also concerned that banks are now having problems with commercial real estate loans as well.
Other companies reporting next week include Google Inc., Southwest Airlines Co. and Dow Jones industrial average components such as computer chip maker Intel Corp., computer maker IBM Corp., industrial and financial conglomerate General Electric Co., and Johnson & Johnson, the world’s biggest healthcare company.”
Earnings always post a lot of risk for holding over night and swing trading. Yet with the volatility comes some great day trading opportunities that the Black Service crew will most definitely capitalize on!
This Weeks Top performing Sectors:
