What a week! The Fed dropped interest rates by .50 points on Tuesday, and the DOW rocketed up 336 points the same day.
The US Dollar dropped to a 30+ year low, Gold shot up, and Oil closed over $82/bbl. The financials showed a nice recovery too. In spite of the huge move up in the DOW though, the volume hasn't been very convincing. This was also expiration week for options and futures.
What can we expect in the coming week? The indexes look like they want to re-test the July highs. S&P 500 Chart
30 year Bond yields started moving up also (long term rates going up.)
Stock Market, stocks this week, earnings week
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- 123Trader
- I've been trading stocks on-line since 1993. I started off like most people knowing very little about the market, but I have since traded Stocks, ETFs, Options, Forex, Futures and Commodities. I now mostly trade Options. I primarily use charts to analyze price movements, but I avoid using a lot of technical indicators. My primary indicators are Trendlines, Support & Resistance, and sometimes MACD extremes and Volume. I may hold positions anywhere from a few days to weeks, or months, as long as the trade continues in the right direction. Happy trading to all!
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