Still not looking better

Things are still not looking better for the US economy. Again disappointing jobs numbers. The 200 MA is still a tough nut to crack. We are back below 200 SMA again. Selling volumes are higher so expect more downside? We should reach a support soon at 10000 points. But there's a silver lining. Look at the baltic dry index.

Up or down?

After much upside, we seem to be hitting a ceiling. There's a fight of bulls and bears again. Bears are trying to bring it down but bulls pulling it up the last minute again.

"Volume was light, with less than 950 million shares changing hands on the New York Stock Exchange. Decliners outpaced advancers, roughly 8 to 7"

Low volume don't seem to tell me it's a bear. But probably stocks will come down the coming week.

For Singapore, we didn't get our National Day rally on Friday. So hopefully we will get a post National Day rally on Tuesday.

Touching the 200SMA

I like this chart. Bulls are definitely incharge right now. We got a volatile 3 days where bulls and bears were fighting with each other and then boom! Bulls win. If we break pass the 200 SMA we are in for a bull run. Then again if you read the news, people are not too convinced about the standard in the European banks stress test.

Dow Drops 1% for Week; Bank of America Tumbles

Guess I was wrong about the direction. DJI failed to break out of the 200 moving average. Friday's report on consumer moods was really bad and it brought down 261 pts. Earnings from banks were not stellar. Looking at Friday, it could be a downside as volume was high that night. However next week will be heavy on earnings as there is a huge number of companies reporting their earnings. So get ready for a volatile week.

Earnings season

Opening by Acola and then intel, earnings season seem to be looking good. Some other companies are smashing expectations also. Still maintaining bullish with a consolidation as there was a huge bull. I don't want the market to be overcooked.

More to come:

THURSDAY: PPI; Empire State survey; weekly jobless claims; industrial production; Philly Fed survey; Yellen nomination hearing; Fed's Lacker speaks; Earnings from JPMorgan, Novartis, Google and AMD
FRIDAY: CPI; consumer sentiment; Earnings from Bank of America, Citigroup, GE and Gannett

Reversal

Spotted a reversal on Monday and yesterday has confirmed the reversal. DJI going on the upside now.

Down down down

Well, didn't I say there was a downside coming? Well it did, looking at fundamental data from US last week and this week, it seems that recovery is far from rosy. Friday was an important day as many investors were waiting for the jobs data to see where the market can head. A good data will push market up, disappointing data ends up down. Result? Disappointing jobs data in addition with disappointing factory orders continued the downward slide. Some analysts were talking about head and shoulder formation in S&P500. It has already broken through. Now it could be a bearish market instead of a correction.

In my opinion, it's a bearish and mixed. Cause looking at Singapore side, the economy is reporting extremely well recovery and progress. While the western side is reporting disappointing recovery. Very confusing indeed.

For now I'm sticking to the bears for next week till I see a turning point.