Wall Street in trading today (26/02) closed lower, mainly triggered by the release of disappointing economic data such as jobless claims and durable goods.
The focus today is trading on a number of disappointing economic data market.
1.Klaim registered unemployment rose as much as 22.000, more than expectations.
2. Demand is expected durable goods rise, in January and then it dropped 0.6%.
3. The market also experienced a number of concerns related to Greece, since
some rating agencies downgrade was allegedly going to the Greek bond.
I predict that in the near future, the stock is likely to be corrected. The next focus is on the 2nd read GDP, consumer sentiment, and existing home sales figures. From the issuer, Berkshire Hathaway's earnings release will also be a focus.
Technical condition
DOW Jones Industrial in sideways condition why?? Check this :
1.DEAD CROSS, Bollinger band cross down moving average 30,40, 60 line.
2.MACD signal still moves below 0.
3.Relative Strength Index line still move below 50% line for one months.
4.Stochastic show SELL POINT.
TWO good point ARE
1. CANDLESTICK already broke up MOVING AVERAGE 30.
2. MOVING AVERAGE 30,40, AND 60 MOVE FLAT. That indicate sideways.
MY SUGGESTION, just wait n see till RELATIVE STRENGTH INDEX break up 50% LINE. Can start to buy when that situation happened.
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