Analysis:
Friday's Analysis predicted that "retail sales will further boost investors' confidence." Today the October Retail Sales increased 1.2%, supporting the market for most of the day. However, the market erased the gains later due to the strengthening Euro and settled slightly lower. Looking ahead to tomorrow, the Industrial Production will be 0.5% or higher, and the Euro will bounce back higher after the solution to rescue two Irish banks is hammered out in Brussels. As a result, the market will rise as high as 1,210.
Strategy:
Hold long at 1,197
No comments:
Post a Comment