I am serving my reservist this week. Hope that I can still contribute some info about the market. Sorry that I did not post anything these couple of days.
Looking back on Monday, I like what I see. Dow close at a high, increasing near to 95 points, almost a triple digit which I consider as a mark of a confidence booster. Hence probably 2day I shall watch the market direction of DOW again.
If today, it still manage to have a strong close, it means that some confidence has come back into the market. Hopefully it is 2 "Marabozu candles" that you see in the daily chart. Marabuzo is opening at low, and closing at high. A sign of bullishness. Either that, 3 green days signify some confidence coming back too.
By the way, we can attribute the bullishness of yesterday to a strong fundamental retail sales report. The good Citigroup results yesterday did help. Today Goldman Sachs results should strengthen the sector further. In fact today Citigroup gaps down because of its CEO exit. I might take this as an opportunity to ACCUMULATE the stock and hold mid term.
By the way, do remember that we anticipate good fundamental reports coming up for October as seen by some good economical reports seen in the first week. We still feel mid term wise (2-3 months), Dow Jones will continue to reach new heights! As holiday season is near, it is normal that retail sales is good. I predict it to be better in November. Nearing Christmas, do remember to start accumulating the stocks.
In fact, we think this slight consolidation as a great thing for us to get into the bullish bandwagon! Get ready. But I am also trying to time my entry to perfection.
This week might be the week!
Do start to look for GEM stocks. Once these few days bullishness remains, GET IN! Look for confidence from Dow Jones especially on Tuesday and Wednesday night.
For those who are playing US tech sector, do take note of Google earnings on Thursday night. It might shake a bit of the tech sector.
That is one of the reasons why