Tuesday, 1 May 2007

US futures surprisingly has been showing strongly for which I cannot find a good valid reason, except that the BULLS may have seen the biggish drops of yesterday's stocks as a buying opportunity.

The good results which most of the Dow's heavyweight components have had in this quarter has been followed by today's results of the Procter & Gamble in which it lifted its outlook for the next quarter.

Uk market has been the only European market today which has been trading and as I am typing it is thinner by some 30 points having recovered the same number of points from an earlier bigger loss.
The ISM & Auto Sales data are to be released later on after the market has re-opened in about 30 minutes time.

I will be shorting the Dow if it gets up to around 13000 for a quick scalp of 10 to 20 points.

dow daily chart rsi


1jonboy said...

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best regards John

Rod said...

Thanks Jon - your site is great too.

Al the best.



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