Financial expert Richard Suttmeier discusses the oversold conditions and what they mean for investors.
“A short-term oversold rally as stocks and commodities trend lower longer term! More evidence of stress in real estate loans! Fannie and Freddie debt and mortgages remain off budget. Where are those “shovel ready” projects? The bailout bucks pile higher.
The Dow, gold and crude oil are alleviating oversold conditions on their daily charts.
The daily chart for the Dow is oversold as traders protect Dow 10,000. Weekly and annual resistances are 10,341 and 10,379. The 21-day and 50-day simple moving averages are set for a negative cross-over at 10,455 and 10,435 as the new market ceiling…”
To continue reading this post and to read more of Richard Suttmeier’s Stock Strategies, click here.
About Richard Suttmeier:
Richard Suttmeier’s latest blog analyzes earnings from Intel, the most important technology stock, JP Morgan Chase, the most important “too big to fail” bank, and break-out’s for Comex copper and Nymex crude oil.
Richard Suttmeier is the chief market strategist for ValuEngine.com. Richard is an industry leader on the housing market and banking system and writes a newsletter covering The Great Credit Crunch. He produces a List of Problem Banks by name. He produces daily and weekly briefings covering the US Capital markets. Richard Suttmeier’s ValuEngine Four In Four video is available on forextv.com.
About EQUITIES:
Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.
Sign up for a free one-year subscription to EQUITIES Magazine
