1/2/08
Dow was down 220 points closed at 13044 and make its worst ever new year trading day since 1983. As I mentioned at the Christmas week, market resume downward movement and did touch the 13000 mark today. Bad ISM index and crude oil trading near 100 are both fundamental reason that US stock market produce big sell off. Technially, retest 13000 is possible for some bounce action for DOW but US stock market are heading to new trend direction within weeks. At this point, US stock market would remain going down but tomorrow DOW may trade in positive note and wait the employment report number at friday 1/4/08. Expect tomorrow has narrow trading range.
Wednesday, January 2, 2008
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