Stocks continued to drop despite Consumer Credit being better than expected
Consumer Credit m/m
Actual: 13.7B Estimate: 13.0B Previous: 14.2B
Stocks should try to rebound but drop further at the end of the day tomorrow if investors trade cautiously
However, US economic news especially NFP, President Obama's & Fed Chairman Bernanke's speeches will also affect the market
So the market will be very risky to trade tomorrow, trade less & more cautiously
Twitter debuted its stock @ 45.1 & reached 50 but dropped back sharply,
faced resistance @ 46, broke above it @ 1:48pm EST but only reached 48.46 & closed @ 44.90
Stock also dropped from 44.90 to 44.30 after-market
Market sentiment should continue to be bearish
Twitter's stock is too risky to trade for now but possible to drop more tomorrow
Disney reported earnings that beat estimates only by 1 cent per share after market closed
Stock dropped from 69.34 to 67.15 & dropped further to 65.17 after-market & might be oversold as it broke below possible support @ 66, 2nd support @ 65
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