Stock Market commentary for Jan 25-29, 2010
We had a major correction in the stock market last week and saw a lot of stocks and sectors drop dramatically especially on Thu and Fri. Looking at the charts, all the major stock market indices broke major support levels so we might see the start of a downward trend in the markets (at least short term). We got some major stock market news and data coming out this week. President Obama will be giving his State of the Union address on Wed Jan 27. Also, we have the FOMC meeting announcement on Wed Jan 27 as well so that could move the markets as well.
Be careful if you are still long or heavily invested in the markets.
Mike Ser
