Sunday, May 31, 2009

Video - Weekend Stock Market Summary - 5/31/09

Hi traders. Here's a video for the upcoming week - basic thesis is that the consolidation so far has been very health and until otherwise noted, the bulls are in control and hold the strings to this market. We are right at key resistance on the Nasdaq and near it on the S&P so it will be interesting to see if the bulls can break this thing out and hold it. I say "hold it" because for some feeling, I have a strong fear of a bull trap here - the S&P has more than just the 930 level to deal with as resistance. I hope I am wrong, because the last thing I want is a whipsaw that takes us right back into a range. All of this is discussed in the video. I am off to get ready for game 2 of the NHL finals - go Pens!

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Charlie G. said...

Well, I won't rub it in but I'm rooting for the Wings!

You got the Superbowl this year so I have no qualms with the Pens losing if that is how things turn out.

Hope all is well, haven't been away from trading but slowly getting back.

Mac said...

Osgood > Fleury means Wings > Penguins. I wouldn't personally mind two championships in the same year here in the Burgh but maybe I'm getting greedy. My Pitt Panthers almost made the Final Four - that would have been the icing on the cake. As it is, Pens are in big-time trouble.

Probably smart to take time off for trading with the new baby - it is an adjustment. Best of luck.