Market strategist George Brooks talks about the market movement and what that means for investors.
“Jobless claims up, a disappointment and pressure at the open, threatening to take the market averages below the levels I noted yesterday, as putting this week's two-day rebound “at risk.”
Those levels were:
DJIA: 10,210
S&P500:1092
Nasdaq Comp.: 2175
Russell 2000: 609
The market averages are - early stage oversold, meaning we are close to a technical bounce, but more consolidation may be needed before buyers overwhelm sellers. It’s really up to the institutions at this point…”
To continue reading this post and to read more of George Brooks’ Market Blog, click here.
About George Brooks:
George Brooks started in the investment business as a stock broker in 1962 and quickly gravitated to the research end of the business, first undertaking his own vast study of fundamental and technical analysis, then taking a position as director of stock market and economic studies for a leading money manager and publisher. In 1973, he formed his own firm to provide daily market timing and stock selections for two regional NYSE member firms, as well as special situation research and written analysis for leading investment advisory publications.
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.
