Expect Nervous Trading Ahead Of The Unemployment Report - Wait For Support Then Buy!
Wednesday, the Fed gave the market what it wanted. They are committed to keeping interest rates low and that is good for businesses and consumers. The market had a positive reaction after their statement, but it was not able to push higher. In the last hour of trading, profit-taking set in and the market staged a key reversal. Many technicians watch this price action carefully since it often signifies a top. Yesterday, initial jobless claims came in better than expected. That sparked a brief rally on the open, but sellers quickly pushed the market lower. Existing home sales were weaker than …
September 25, 2009
• Posted in: Options
Comments are closed for this entry.