Sunday, May 3, 2009

US markets: April 09: No fear

Week 8 of the rally. It has flattened a bit, but the expected pullback never came:

We see some distribution days in the past two weeks. However the market was not shaken by Swine Flu:

The strength in face of the swine flu makes me want to add to my position. The market wants to go up. This would be a short term trade (weeks, months) just to try to ride the uptrend as long as possible - not a long term investment.

Coming up:

1) Indexes are approaching 200MA:

a) Nasdaq:
b) Dow:
c) S&P:

2) Banks 'stress test' results to be released Thurs (May 7th). Lets see the market's reaction.

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