Stock Market Analysis

Sunday, November 28, 2010

Welcome Back From Long Weekend!

Welcome back from Thanksgiving Weekend! Hope everyone had a fulfilling rest and are ready for action until Christmas comes.

It was certainly a cautious and sideways Thanksgiving week in the market last week even though GDP was better than expected and jobless claims broke decisively below the 450K level at last. Indeed, investors these days are extremely cautious of long weekends as nobody knows what will happen over a few day's period in this uncertain times.

However, it must be acknowledged that economic data continues to turn in encouragingly and the Dow continued to hold above its daily 50MA support level which is critical to the healthy progression of this intermediate bull trend.

This week, the first week of December 2010, is again a week of important economic numbers; ISM Index and Jobs Report (see Stock Market Calendar). With the present trend of improving economic data, odds once again favor to upside especially with traders willing to hold the market at support. Lets look forward to an exciting trading week ahead.

For now, the Dow remains in a short term neutral trend, intermediate bull trend within a primary bull trend.
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