Mixed Thoughts Going Forward, Momentum is Declining

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Mixed Thoughts Going Forward, Momentum is Declining

Post  harpal1980 on Tue Oct 27, 2009 1:36 am

Directionless’ was the best way to describe how the equity markets acted last week, as the major stock indices bounced back and forth in a volatility week of trading. Most equity traders were whipsawed by the week’s movements, as the markets pushed higher and then dropped towards the end of the week. The benchmark S&P 500 index finished the week down 0 .75% or 8.8 points, while the leading Nasdaq closed with a loss of 0.82%. From a technical point of view the major equity indices have now seemed to have run into strong resistance, a level that is creating extremely choppy trading.

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