Monday, February 08, 2010

What's Next For Stocks



A few weeks ago I posted about how stocks turned the corner and since then we've seen the stock market sell off. The most likely downside target over the short term would be a test of the 200 day moving average which is rising daily but currently is at 101.50.

This moving average also coincides with the low from November which is at 102.50. So the first downside target to watch for would be the 101.50 to 102.50 area. How the market reacts once this level is tested will help determine what's next for the market but for now let's simply take one day at a time and see what happens.

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