Tuesday, March 13, 2007

MARKET RECAP

This will be the bulls best friend the rest of the evening.


The markets opened weak and got progressively weaker throughout the day. We closed near the lows which is a bad sign and a taste of things to come tomorrow. We may very easily test the Dow 11,973 lows of March 5th tomorrow. Support at these lows will be an encouraging sign from a bullish perspective. A break will be very bearish.

The following factors played a key role in todays market slump.

I expect weakness in Asia and Europe overnight and I expect continued weakness in the US equity markets tomorrow unless, we test those March 5th lows early and rally into the close.

2 comments:

TradingGoddess said...

Bartender,

Can you make mine a double? And pass the peanuts please.

65Trader said...

Ah, crap. I sold my puts today, should have held on to them...