Thursday, April 17, 2014   
Search   
 
FastSwings.com

   Stocks, Stock Swings, Options, and Option Trades

   Disclaimer: Consult a Financial Advisor prior to taking the advice offered. By reading this blog site you agree to not hold any authors or FastSwings.com responsible for market loses that you may incur.

 Subscribe in a reader

Subscribe to FastSwings by Email

Register   Login   
FastSwings.com » Blogs  
 FastSwings.com Blogs    

Dow Jones Industrial Finally Signals a Hold

by Steve Patterson on Saturday, May 23, 2009 12:09 PM

Dow Jones Industrial Finally Signals a Hold

The Dow Jones Industrial Average finally signaled a hold at the end of this week with all four major indexes now in limbo waiting for a move higher or lower. The charts look like tops with the Dow and the S&P 500 index already completing their top formations. The Nasdaq needs to fall below $1664 while the Russell 2000 can form a top formation with a break below $471.82.

The Week That Was

What looked like a turnaround in housing one day was shattered by a poor housing starts number the next. Some banks got a boost also early in the week with analysts increasing Bank of America's target price and Lowe's beating estimates to give further aid to a Monday rally. But reports on unemployment and housing later in the week sent the indexes lower and changed the bias of some to a more negative view.

The Coming Week

A lot of retailers give earnings this coming week which shouldn't provide much support to a rally that has stalled out. Autozone (AZO) is expected to do well, Big Lots (BIG) could beat expectations with consumers trading down to discount retailers, but that could be all.

There is brighter news on the economic front with Consumer Confidence expected to improve, Existing Home Sales, and New Homes Sales also both expected to be better than the prior reading. Durable Goods Ordered comes out on Friday and could lead some to feel better about the economy. And the Preliminary GDP reading comes out on Friday for the first quarter. GDP is expected to decline by 5.5%. This is better than the previous decline of 6.1%.

This week should provide a signal both technically and fundamentally on the direction the markets with head for the coming month of June.

(C) 2009 FastSwings.com

Blogs Parent Separator FastSwings.com
Author
Steve Patterson

Swings by Industry and Options by Day

12 comment(s) so far...

Anonymous 5/26/2009

I thought they wold never do it.They did it.

 
Anonymous 5/27/2009

Amazing styling and great simple to use product,One of the best web app implementations I have have ever seen.<br>

 
Anonymous 5/27/2009

Thanks for your nice article. I am sure that, if this product reduce the GDP percentage then it will sure lead some to feel better about the economy

 
Anonymous 5/30/2009

i think the index would go up again in coming week

 
Anonymous 5/31/2009

Great point. I hadn’t really thought much about how people make bank off of those free services.markets with head for the coming month of June.

 
Anonymous 6/1/2009

Hope the turnaround in the economy should be sooner or later. So that we could move forward.

 
Anonymous 6/1/2009

Durable Goods Ordered comes out on Friday and could lead some to feel better about the economy. And the Preliminary GDP reading comes out on Friday for the first quarter.

 
Anonymous 6/3/2009

Hope this signals a turnaround for the world economies

 
Anonymous 6/4/2009

Finaly! I've been waiting for them to signal it for quite some time.

 
Anonymous 6/20/2009

This week should provide a signal both technically and fundamentally on the direction the markets with head for the coming month of June.

 
Anonymous 6/22/2009

Hope the turnaround in the economy should be sooner or later. So that we could move forward.

 
Anonymous 7/11/2009

i think the index would go up again in coming week

   
  
 FastSwings.com Blogs    
   
    
 FaceBook    
   
  
 Market Summary    
   
    
 Translate    
   
  
 Sponsors    

   
    
 Categories    
   
  
 FastSwings.com Blogs    
   
    
Downloaded from DNNSkins.com