Welcome To The First Full Trading Week of 2009!
Welcome to the first full trading week of 2009!
2009 is the traditional chinese year of the BULL, will we have a bullish year this year? :) Well, so far, things are shaping up quite nicely with stock markets across the global rallying to the new year beat. In fact, the Dow is once again on its way to the top of its neutral trend channel of about 9500. I expect 2009 to be a bullish year but will it start right away? I am skeptical that any real breakout will happen before peak unemployment numbers and we probably would never know where the peak is until unemployment figure make its first retreat. This Friday's unemployment rate (see economic calendar) would most probably show another yet higher number, which could spur another round of buying by speculators of peak unemployment rate.
The Dow remains in short and intermediate term neutral trend with a primary bear trend still intact.
2009 is the traditional chinese year of the BULL, will we have a bullish year this year? :) Well, so far, things are shaping up quite nicely with stock markets across the global rallying to the new year beat. In fact, the Dow is once again on its way to the top of its neutral trend channel of about 9500. I expect 2009 to be a bullish year but will it start right away? I am skeptical that any real breakout will happen before peak unemployment numbers and we probably would never know where the peak is until unemployment figure make its first retreat. This Friday's unemployment rate (see economic calendar) would most probably show another yet higher number, which could spur another round of buying by speculators of peak unemployment rate.
The Dow remains in short and intermediate term neutral trend with a primary bear trend still intact.
Labels: 2008 crash, fundamental analysis, technical analysis
posted by Jason Ng at 5:31 PM
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