The long doji indicated that market didn’t make up mind yet on where to go next. We need some push to break the overhead resistence.
Tag Archives: Market
Like YO-YO
The market acted like a yo-yo. Yesterday Dow Jones Industrial was down 115 and today it’s up 172. The blue lines might be the bottom for the short term. We shall see some upside to test the SMA 200 which acts like the dividing line of bulls and bears.
After Greenspan
The market obviouslly liked the news on the nominee for the fed chairman. So far, QQQQ has moved ahead of INDU and SPX.
INDU, QQQQ and SPX
All markets suffered heavy losses last week. INDU broke its support at 10350 and the new support is above 10000. QQQQ broke the support, we shall see if it continues to decline. SPX is approaching the new support level. All markets are very over sold, but not so good economic data didn’t provide any incentive for buyers to step in. However, my personal view is that the market condition is not too bad, thus there may be a buying opportunity for long term accounts.
INDU
INDU has not changed much from yesterday. There is no increasing selloff, so it’s a good sign that the uptrend may stay. Based on overall market condition, I have reentered PMCGX after the blackout period is over. My current asset allocation for this 410(k) is 60% cash, 20% PMCGX and 20% TEFTX.