Analysis:
Today the market rose past a disappointing Industrial Production in Sept., just as it did to a disappointing Consumer Sentiment on Friday. Looking ahead to tomorrow, the market is due to a retreat, as Apple's shares dropped 5% in after-hour trading from a record-high close despite impressive earnings far exceeding consensus, and IBM shares fared similarly. Nasdaq-100 will lead the market retreat, and the S&P 500 index, whose recent rally has been led by technology companies, will need upbeat earnings reports from Bank of America to counter a significant retreat.
Strategy:
Hold short at 1,157
No comments:
Post a Comment