Totally Heavyweight Week Ahead...
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It is going to be an extremely heavyweight week ahead with the GDP, FOMC decision, ISM index and the Job report ALL IN ONE WEEK! (see economic calendar) Such a heavyweight week can only mean one thing... Volatility. No matter how the numbers read and what decision the Fed makes, the market is going to move strongly.
On the weekly charts, the Dow is also up against its 30MA resistance level of about 13000. The Dow is already slightly overbought on a weekly basis right now, making it doubtful if the 13000 will be broken within the next few days. So said, I am maintaining my mid term bullish outlook on the market. Let's see what adventure the rest of the week brings.
It is going to be an extremely heavyweight week ahead with the GDP, FOMC decision, ISM index and the Job report ALL IN ONE WEEK! (see economic calendar) Such a heavyweight week can only mean one thing... Volatility. No matter how the numbers read and what decision the Fed makes, the market is going to move strongly.
On the weekly charts, the Dow is also up against its 30MA resistance level of about 13000. The Dow is already slightly overbought on a weekly basis right now, making it doubtful if the 13000 will be broken within the next few days. So said, I am maintaining my mid term bullish outlook on the market. Let's see what adventure the rest of the week brings.
Labels: fundamental analysis, technical analysis
posted by Jason Ng at 5:46 PM
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