Wednesday, March 25, 2009

Dow & S&P 500 market analysis for 03/25/2009 Wednesday

Dow & S&P 500 market analysis

From yesterday’s movement, I believe the market is currently at the crossroads now. Today will most probably be a down day. But how much it tanks will determine whether it is a reversal or just a dip on an uptrend. The first significant support would be 800. If it tanks past this support, the next significant support would be 750. This would indicate that the uptrend had ended. However if it bounces at 800, then this is just a dip on the uptrend and we are going for 900 on the S&P.

Direction for 03/25/2009 Wednesday: Down

Crude Oil (USO)

Crude will range-bound till the end of the month or the end of this week to be precise. It should remain this way until it forms a breakout pattern.

Direction for 03/25/2009 Wednesday: Sideways

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