6 August 2012
Market Summary
Ok... i was spot on this one... in my older DMA, I called for a flat to the upside day... then... there you go!
Market Internals
Internals were all flat... however... it did spike at the first part of the day... however, towards the last hour, it just washed out... seems like some serious profit taking isn't it? Showing too much weakness in this up day...
Leaders and laggards
Technical Updates
On the technical updates, without a doubt, SPX is touching its 1400 resistance, DOW barely scrapped 13200... I doubt it will have much strength to push through for the next few days... unless there's some catalyst to push through...
Commentaries
Despite a asia market closing higher on monday(mostly due to better employment reports in the states), it failed to provide much support for the US market.
Commodities
A flat day for the commodities as well.....
Treasuries
Ain't going to call for a up after such a day... with no data, pure profit taking... seems that the institutions are not comfortable to stay in the trade for too long isn't it...
Market Call: 7 Aug
Date: DOWN
Accuracy: 4/5
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