INDEX UPDATE
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The N225 did great last night closing at 15259, up 484 points(3.27%).
It actually gapped-up at the open about 63 points and closed at the high of the day which in candlestick talk would be a "SHOOTING WHITE DAY". With such a candlestick pattern the liklihood is that it will continue to move up for a few more days. I had called a CLASS 1 BUY on the JAPAN market and from the BUY-IN DAY's bottom, the N225 has already, in 2 days, moved up 771 points (5.3%) to the upside. I still need to comment that the media only indicated that JAPAN, yesterday set a new low of 27 points which is equal to 9 cents on a $50 stock, and did not state that that it had about a 2% turnaround intraday. Sure it closed lower but such does not tell the whole story.
The Hong Kong market was also up nicely at 2.4%.
There was no reading on the Korean market, so I am presuming it may have been a holiday.
Well at least for today, and possibly the next few days, the major Asian markets should not have any negative impact on our domestic markets.
I would also like to point out that all day CNBC was saying that it was extremely light volume, however I noticed that the NAZ traded over 600 MIL and the DOW about 420 MIL. I would consider that lighter volume, but not EXTREMELY LOW volume. I mention that since I have heard on a few posts the mention of the light volume, and just felt the comments from the media may be misleading.
Happy trading |
