The daily stock market report for December 2007 is given below. However, only the report of the last couple of weeks are mentioned.
NASDAQ and Dow had come up through the fifty day moving average. It meant that the fifty day moving average did not work as a resistance.
The NASDAQ had claimed a strong buying in the last few days and was improving every day.
The NASDAQ remained above the T-Line and the Dow showed an increasing trend. This upward trend went on for the next three or four days.
Today’s trading was indecisive in nature with the stochastic(s) out of the oversold area. The NASDAQ was running their trade at 200 day moving average and formed two Doji signals. There was no indication of any market reversal at all.
The NASDAQ and Dow showed a bad signal in the market today. Positive confirmations were required to notify that the downtrend had been reversed. The stochastics were yet to enter into the oversold area that increased the probability of indecisive trading in the coming days.
Today the market situation was good. However, a strong reversal signal was needed to show that the downtrend had gone.
Today the Dow was not able to come up through the 50 day moving average. Therefore, the 200 day moving average was set as the next reachable target. The solar energy companies were performing efficiently. LDK opened with over 20 points today.
Last Updated on : 26th August 2013