US annouced some unemployment number last Friday, Federal Reserve Chairman Ben Bernanke said yesterday that a fiscal package could help revitalize the ailing U.S. economy and it is annouced today that retail sales fell twice as much as expected during December. Sound like all bad news and US market indeed is retreating its earlier gain.
While I was taking a rest from the stock market, I was also spending a little time to understand more about the Forex market. I was also testing some strategy using the EMA (Exponential Moving Average). To my surprise, the MA indicators seems to be working pretty well during my test today.
Dow Jones tumbled last Friday, I noticed that it broke all the supports of moving averages. I was pessimistic about market trends. Luckily that it did not continue the down trend last 2 days and DJ has been staying pretty flat.
I started to plot the Fibonacci lines on the DJ lines, what a coincident [...]
"Wall Street tumbled Friday, taking the Dow Jones industrials down nearly 400 points, on a pair of alarming economic developments: oil prices that shot up by more than $11 a barrel and approached $140 for the first time, and the biggest gain in the government’s unemployment reading in more than 20 years."
This is the Headlines [...]
