It should be noted that on Friday the Dow Jones Industrial Average closed Friday at 12,720.48 Last summer the Dow closed at 12,724.41 on July 21st, and at 12,719.49 on July 7th. This is significant because if we see the Dow Jones Industrial Average moves back lower from these levels, then we will effectively have put in place a “triple top,” which should be considered a significant point of upside resistance. It should also be noted that this move higher has not been confirmed by the either the……………………
Tag Archive for S&P 500
Market Commentary – September 6th, 2011
by sterlinginvestments • • 0 Comments
A Few Thoughts Before the Open: As we prepare to start this Tuesday following the Labor Day holiday we find that world stock markets were under pressure Monday while we in the U.S. had the day off. Both Asian and…
Market Commentary – September 2nd, 2011
by sterlinginvestments • • 0 Comments
A Few Thoughts Before the Open: The employment numbers released this morning were horrible. As a result we are looking at a sell off on the open. I’ve updated my support and resistance levels on some of the indices I…
Market Commentary – September 1st, 2011
by sterlinginvestments • • 0 Comments
A Few Thoughts Before the Open: In looking at the yesterday’s charts of the various sector indices that I track I noticed that many of the indices rallied up to their 40 day moving average before turning back lower yesterday. …
Market Commentary – August 19th, 2011
by sterlinginvestments • • 0 Comments
A Few Thoughts Following the Close: The overall market again moved lower Friday in a broad based selloff that saw every index I track move lower on the day. The Dow Jones Industrial Average closed down approximately 173 points at…
Market Commentary – August 17th, 2011
by sterlinginvestments • • 0 Comments
A Few Thoughts Before the Open: The overall market moved moderately lower yesterday in a relatively broad based move that saw the majority of the indices I track move lower on the day. In reviewing the charts from yesterday’s trading…
Market Commentary – August 16th, 2011
by sterlinginvestments • • 0 Comments
A Few Thoughts Before the Open: As I write this, pre-market futures are sharply lower in the U.S. due to news form Europe that economic growth is slowing on that side of the Atlantic. Not sure where the futures will…
Market Commentary – August 15th, 2011
by sterlinginvestments • • 0 Comments
A Few Thoughts After the Close: The overall market moved sharply higher yesterday in a relatively broad based move that saw basically every sector index I track move higher on the day. The strongest sectors were the N.A. Telecom, Banking, …
Market Commentary – August 9th, 2011
by sterlinginvestments • • 0 Comments
A Few Thoughts Before the Open: It’s about 7:00am this morning and as I write put the finishing touches on this report pre-market futures are showing a bounce higher this morning, however that can change in a heartbeat now days. …
Market Commentary – August 5th, 2011
by sterlinginvestments • • 0 Comments
A Few Thoughts Before the Open: With yesterday’s brutal move lower in the markets I am going to sit this morning out from a trading perspective; not because I am afraid of the market moving lower, but because I am…