Friday, 8 November 2013

The 120 points drop don't look good for the US market

Dear Friends,

It does seem the US market is getting weaker. Dow drops 120 points now. S&P500 drop 18 points now at 3.35am. It has been quite some time S&P500 has such a big drop. I suggest caution in the short term going long in the US market. Asia market might also be weaker tomorrow.

I suggest we study the market these few days. This is especially true when there is a non farm payroll happening tomorrow night. I think 2moro may also be a down day. Hopefully the market do not take tomorrow data to take profit in the market too much.

Mid term wise, I feel the market is in for a small correction. Although I feel that the christmas rally will still come, hopefully the market can take a pause these few weeks. It is only after a pause that this rally will go to a higher height.

So for now, don't do any action in the stock market until next week is my advice. CAUTION!

3 factors to note to condirm downturn.
1) Dow drops by 100 points (we have this shown today)
2) 3 days drop in DOW
3) 2 weeks drop in DOW

Rgds
Daniel

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