After posting about the Dow Jones Industrial average daily and weekly trend last week, I was following the Dow Jones market very closely last week. I thought there would be some bearish sentiment developing and the market might trend lower due to the stalling of the auto bail out plan.
Finally, white house utilized the financial rescue package to give a big hand to the automakers. However, you might be wondering, how come the market did not rally up and cheer after receiving such a news. The market was almost staying flat for the last one week.
Let’s do a quick review now! And see if there would be any year end rally or not.
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It was a bad terrible week last week in the global stock market. Almost all major market are having a red bloody week on fear of the Global Recession is inevitable.
I was seeing many major market indices breaking the key support levels. Many of the US markets look to break the key triangle shaped pennant, Hong Kong and Singapore are breaking key support levels, either Fibonacci level or classical support level.
