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09/13/11 Review

Discussion in 'Commercial Trade Journals' started by Joe Bull, Sep 13, 2011.

  1. Joe Bull

    Joe Bull Recruit

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    Wall Street opened the trading week on the green territory. NASDAQ rose 1.3% and the S&P 500 gained 0.7%. On the weekly analysis, we mentioned that all main indices were supported by the trend line, and this support managed to block additional declines. Before the opening bell, things looked like the hysteria took over the markets, after Europe main stock exchanges fell sharply. The US stock exchange did open 1% down, but managed to rise again in a 30 minutes rally.
    If indices continue the bullish momentum and cross above yesterday's high, then things will look good for the investors. However, if the S&P 500 breaks the important support at 1140 points, it might drag the markets down.

    Have a great trading day !
     

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