The Dow snaps its 6-day winning streak with a point below. By looking at the candlestick formation of the 7th candle, it looks like a badly formed inverted hammer indicating a likely reversal. Tonight's economic news will be on weekly mortgage applications which focus on the housing situation and weekly crude inventories which focus on the crude oil supply of US which it has. Crude oil inventories will determine whether oil prices will go up or down. If US has more supply than demand then, prices of crude oil will go down, if demand is more then price will go up. I got a feeling weekly mortgage application might disappoint, with the evidence of the inverted hammer, DOW might go into consolidation or continue to slide.WEDNESDAY: Weekly mortgage applications; weekly crude inventories; 7-year auction
THURSDAY: Weekly jobless claims
FRIDAY: New Year's Day — all US financial markets closed
Yes definitely, as it was a blackout day for Dow&Jones and all of the investors in the history of market as it put many traders into loss and I am have started doing KLSE stock analysis at that time which made me confident enough to recover from that loss.
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