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U.S. Stocks End with Whimper after Eventful Week

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Nov 6, 2010.

  1. futuretrends24

    futuretrends24 New Member

    Apr 30, 2009
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    Today’s sample of Futures Analysis from FuturesHound.com

    U.S. equity markets closed slightly higher after a spurt to the upside following a better than expected U.S. jobs report. Buying pressure died shortly after the major indices reached their highest levels in more than two years.

    The financial markets took a breather after a volatile and eventful week. Traders seem to have exhausted themselves after a strong rally following a Republican election victory, fresh stimulus from the Fed and a better-than-expected jobs report. It didn’t look like there was a major seller in the markets on Friday, but it appeared that buyers may have grown tired of chasing the markets higher. This came after an eventful week helped support demand for equities.

    The December E-mini S&P may break back into 1200 over the near-term which was a former top. If this test doesn’t attract buyers then look for a possible correction to 1193.00.

    Read full article at FuturesHound.com as well as Futures Analysis, Futures Education and exclusive timely market Gann Analysis

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