Intraday Market Thoughts

Archived IMT (2009.11.19)

by Ashraf Laidi
Nov 19, 2009 22:18

NIKKEI ALERT. Japan's Nikkei-225 index is on its way to close lower for the 4th consecutive week, the longest losing streak since Sep-Oct 2008. Next week, markets will watch 9,35138% retracement of the Mar low to the Sep high. US stocks ended off their lows, with Dow -0.9% to 10,332, retreating below that 50% retracement (10,335) of the decline from the record high to the March low. The index closed above this level on Mon-Wed, therefore Friday will be deciding session for the weekly close.


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