4/7/08
Major US stock indexes are forming the forth day Doji star pattern( today is tending slightly more bearish than previous day since today it is a high wave Doji gravestone star pattern). The evening star pattern that I have been waiting for the reveral signal is pending to form once tomorrow close in negative note(need at least 100+points). Then these last weeks bullish sentiment is about gone. Especially, traders are more concerning about the earnings season started with AA which posted result slightly higher than estimate but net income fall below 50% compare with last year. Well, I guess that is expected for evey companies, right. The forward guardiance is more important from now on. AMD trim outlooks and layoff 10%worker ( total employee 160000 data from yahoo.com)..so..another layoff...expect it is coming...LAYOFFS. Even WM has raised 5 billions but WM has not closed above resistance level yet. This quarter earning report is very important, keep an eye close and realize the sentiment outcome from the market(stock price action).
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