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Wednesday 2 October 2013

Stock Market Analysis

The stock market rose higher steadily & broke above 1690, so it wasn't quite safe to trade today because stocks were overbought again
S&P 500 later also broke below 1690 & was unstable
FOMC Member Rosengren said that slow economic growth & weak job numbers mean that QE tapering won't happen too soon
Fed Chairman Bernanke did not mention anything about QE tapering
S&P 500 finally went up again & closed at 1693.85 in the last 10 minutes just after breaking below 1690 again


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