Pre-election rally which has started last Tuesday brought impressive gains today:
Dow
|
+305.45 | +3.28% | 9,625.28 |
Nasdaq
|
+53.79 | +3.12% | 1,780.12 |
S&P
|
+39.45 | +4.08% | 1,005.75 |
However some leading stocks declined today (AFAM is among those stocks) and this makes this rally a bit weak. Will it survive or is it just another attempt to fail?
Tomorrow we may expect weak open and weak trading, however this post-election period will be crucial. The economy is still showing bad data and bad news. Will the market respond to the bad news or are we really consolidating?
Tip: Save your money, do not invest into any new positions, build a watch list and wait for the market to tell when it is the best time to start buying stocks. This beginning rally still may fail.
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