Dangerously low

Total bummer last night. Dow dropped a 100 pts when job claims dropped by 8000 but fell short of expectations. Showing that people are not looking well at the economy. Bet many at the asian side were scared shit by DOW. It's getting clearer that now the DOW is undergoing consolidation and we are hanging dangerously on the 100 Days Moving Average. If DOW breaks tonight, then prepare to fall to 9600 pts.

Tonight we will have some economic news again: First look at 4th Q GDP; Chicago PMI; consumer sentiment; earnings from Chevron.

Chicago PMI should look good with improvement along with higher consumer sentiment. So tonight might go up.

Soon?

The DOW ekes out a gain. First it was down with not very nice earnings from reporting companies last night like CAT. It's pulled up by Apple's new announcement of the iPad. If tonight close positive, then we have a further upside.

Obama Union Speech

Obama's Union speech tonight. Might be a big market mover.

Bears resting

Bears took a rest last night as yesterday DOW came out green after fighting for a time. An inverted hammer formed meaning that the market could be in for a reversal or a consolidation. I was anticipating for a confirmed reversal today in the Asian market but alas, China came out with the tightening of credit and the whole market just crashed again so my reversal was overturned by this news (Market is dynamic). Bad news always comes in waves one after another. Prepare for more crashing tonight unless something good turned the tables.

Another Plunge

The DOW plunged again on Friday night. First it started slow, then after that it plunged again within minutes! Scary. Fear is in the air. That's why the market just plunged as everyone started panicking and shortsellers are shorting aggressively. It broke the 50 MA boundary and my 200 MA was pointing that the DOW might go until about between 9400 and 9600 in the future. Isn't it scary?

Plunged!

BOY, I was dead wrong last night. The market just plunged within minutes when Obama announced that he will curb the risk-taking by banks sending all bank shares plunging. The whole market just plunged 200 pts due to fear. GS made outstanding earnings but failed to lift the markets.
A head & shoulders pattern started to form before US markets opened. And it broke through the last shoulders which send the market crashing.
I cut loss to one of my holdings and taking profit in others while it is still profitable in the morning. STI just PLUNGED in the morning session, while afternoon session seeing recovery. But remains to be seen if it's real. Think tonight could be a short rebound.

Jobless Claims Post Jump, Dimming Hopes for Recovery

This just came in fresh. Seems like recovery is going to be hard for US.

http://www.cnbc.com/id/34971879