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Monday, 14 October 2013

Stock Market Analysis

Stocks plunged as we expected after no debt limit agreement has been made
S&P Futures dropped from 1700 to 1682
S&P Futures possible support @ 1685, stronger support @ 1680, possible resistance @ 1690, stronger resistance @ 1700
S&P 500 possible resistance is also @ 1700

Citigroup was fined $30 million for leaking Apple's secrets
Stock dropped to 48.84 from 49.22
However, Citigroup will report earnings tomorrow, which is more important & might lift its stocks up ahead of it
Possible support @ 49.0

Netflix is in talks to make its services available on several cable TV providers
Stock jumped too high from 300 to 310
Watch 310 for possible support or resistance

General Motors will open a $200 million metal-stamping plant to save $40 million a year in shipping costs
Stock dropped from 35.3 to 34.84 but is rebounding above 35.0
Possible support @ 35.0

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