Market (SPY) gaped down at open and extended already bearish trend this morning. Although by the end of the day the market may rally back. It looks like the A,B,C correction has been completed and now we will be running down. QE3 is now more likely to happen, although that may be good for the Continue reading →
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Posts Tagged With 'SPY'
SPY on the downhill road
Although the jobless claims were in line with expectations as well as manufacturing data the market failed to go thru the resistance and turned down. Europe’s manufacturing data disappointed and tomorrow we will have Labor data out. The ISM Index remained above 50 number, and although it is trending lower, we most likely will avoid Continue reading →
Why I consider the market status in correction although the market rallies?
My colleague at work asked me that question when we discussed where I think this market will go. The answer was simple. SPY broke down from head and shoulder pattern on a very high volume and suffered some sort of a mini crash since then. It basically created a lower low and corrected to a Continue reading →
Will the Greece debt drag the entire market back down?
Although there are many other aspects which will affect the next movement of the market such as weak economy, job data this coming Friday, ISM report (PMI index) etc, the Greece debt and the entire Eurozone debt crisis seems to be coming back. As probably every one knew, this issue hasn’t been solved at all, Continue reading →
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