The market seems to have been a little lost today. It opened a little higher and surged about 14 points upwards before crashing about 35 points under the 2900 mark and then recovering to close 0.56 points lower than yesterday at 2906.23. A roller coaster ride indeed.
Even though today's action showed a glimpse of hope between 4pm to 5pm, the downward trend persisted after 5pm. I would expect tomorrow to be a bleak day. Wall Street continues to be weak today as this post is written. Technically speaking, all is not good.
Despite the gloomy days ahead, I would like to keep an optimistic outlook in suggesting that people look out for valuable buys. A point to note is that markets crash faster than they recover. This would mean that bad times are less than good times. Some might wish to go for speculative very short term trades. However, I am not in a good position to comment as a speculator and to advocate that. I am an analyst who looks more at the numbers, not a speculator.
Good news for readers as I am now developing a set of customised indicators that I can soon post a snapshot of and give all readers a picture of what I am writing about. Finally, pictures and explanations! Please do join my poll to give me feedback. I shall be constantly improving this site and providing better insights. Readers can expect posts to pick up in this volatile season however, the standard will still be kept to at least 1 post per week.
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