Well we got the much anticipated September payroll number on Friday, and the market liked it. The market was up nicely for the week, with the S&P 500 finally hitting an all time high! We could see a double top here for the S&P 500 (July high), although the Nasdaq already blew past it this week (AAPL, GOOG, and RIMM leading the way). Also this week, Chinese stocks were acting like internet stocks did in 1999!
Starting next week we have Q3 earnings -this will probably determine the market direction over the next month. Meanwhile the bullish trend continues.
Gold fell early in the week, but recovered most of that loss by the end of the week.
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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