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 6-26-2009
The DOW fell 187 points Monday, closing slightly above the 8600 support line. This is just noise. Until the market makes a move out of the trading range of 8600 to 8875, we do not have a direction. The market may be fully priced for this time in our economic recovery. A close below 8600 could bring us back to a low of 7500, and a close above 8875 should see 9250 at a minimum.
The market breadth was negative, with only one stock up for every nine stocks down. Gold was down, the dollar was down, Commodities – down, and the new high list had only five stocks, with nothing of interest.
Monday’s Empire State index started the market lower. Tuesday has a number of economic numbers, most released before the open, which could provide the volatility to trade.
Otherwise, I expect another down open, before a reversal some time between Tuesday afternoon and Thursday mornings open.
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