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Thursday 14 November 2013

Stock Market Analysis

Stocks (S&P 500) shot up from 1761 to reach a new record high @ 1782 yesterday
S&P Futures continue to go higher after the market closed due to Yellen's pre-released statement that the Fed must do more to support the economic recovery, which means more QE
S&P Futures current resistance @ 1785, support & rebound @ 1780 & possible to go higher even though stocks are overbought, which is dangerous as there might also be profit taking later
Trade cautiously as there might be more volatility after Yellen's statement @ 10am EST

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