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Tuesday 12 November 2013

Stock Market Analysis

Stock Futures dropped after Federal Reserve President Richard Fisher warned investors to prepare for QE tapering
"We've changed and impacted the markets because of our intervention and I understand there's sensitivity, but markets should also bear in mind that this program cannot go on forever"
S&P Futures dropped from 1770 to 1763, rebounding but weak
The market should show a clearer direction around 30 minutes after the market opens, trade cautiously as support is weak
Possible smaller resistance @ 1766, stronger resistance @ 1770 but also possible to break above if it follows previous market patterns

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