Dear Friends,
If you notice Dow Jones these 2 days, it remains stagnant. Yesterday it drops by 60 points, 100 points at the open, slowly recovering. Today on Tuesday, it also remains in the red, slightly 6 points down.
The major reason is the miss in forecast by the housing reports. As I have mentioned, March is probably a mixed month, do not expect it to move up fast ans furious. Housing reports have generally shown a miss in forecast so far. We have more to come this week.
But the good news is that having missed the forecast figure, Dow Jones still hang in there. It did not drop a lot, which is always a great sign of confidence in the market. It seems to be waiting for a good report before moving again. This is a signal of resilience.
If u have position in the market at a loss, hang in there. If you have a profit, might as well take some off the table, in this Dull Market...
Rgds
Daniel
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