Stock Market
All comments and Stock Market Ananlysis are made by Guy Brumley. Guy has been trading the Stock Market daily since 1992.
Trading, evaluating stock prices and predictions
Stock Market Commentary 6-1-2009
I was away on family business Friday, and am trying to get a handle on this week’s market.
The first obvious play is in gold. It looks like a slam-dunk for a breakout above the 1000 level. The inverted head and shoulders pattern is one of the worst kept secrets in the market. I am not receiving charts from Mytrack tonight, so I have been using Yahoo Finance for data. This is a good source for charting and fundamentals, and I have considered using their data, so readers can go to a free data sight and follow the charts and numbers.
This week we have a big economic calendar, with the ISM numbers on Monday, Factory Orders on Wednesday, and the big number Friday being non-farm payroll. We also have GM’s bankruptcy filing Monday. We will see if we can break out of the 8200-8600 trading range.
We are right in the middle of the 8200-8600 trading range at 8404. This will allow for 200 points in either direction at the open, and then fade back to the middle by the end of the trading day.
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