Tuesday 14 February 2012

Bearish Opening to US Market due to Retail Sales

As I have mentioned in my blog, today's Retail Sales estimated figure might be a bit too high as January figure does not include the festive December month, I can only keep my fingers crossed that it beat the estimates of 1%. Today the figure is 0.5%, less than the estimates.  It didn't beat.

You may take a look at my last article: Will STI and DOW survive this Bulllish Run?

That is the reason why Dow Jones decrease by 45 points now. Decliners defeats Gainers 3874 to 1731 stocks.

With retail sales down, we can only look forward to Wednesday's Greece decision on Euro zone & Thursday's Housing Starts and Philly Fed to ignite Dow towards 12938. I am more inclined to think that Greece would not make a decision to leave the euro zone.

The good thing to get out of this Down Day is that the market hasn't dropped much even after this Retail Sales, which is a HINT that DOW might just break 12938, and STI breaking 3000, just that we need a Good news somewhere to ignite a rally.

The danger of course will be when DOW drops consecutively for 3 days, more than 100 points in a single day and drops below 12700. That is the time to liquidate positions.

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