There you go,
Dow Jones was closed minus 41.74 last night, as we can see from the chart that five (5) candle reversal in weekly chart. On the other hand, april is the most bullish month in a year. Therefore, in monthly chart, it opened lower and close will be lower low or when it opened lower and close will be higher. We see how it goes from the explanation below.
In my opinion, I could be wrong though :-) (Again, market is too dynamic and no one can predict where it is going) , it opens lower and when it closes higher in monthly chart but it all depends on earning season and some news that might effect to market movement. Furthermore, earning season is started today from announcing company called Alcoa (AA) in Dow Jones listed and earning season will be ended with ticker WMT (Wall Mart) . Actually, this earning season is the first quarter (Q1) and some analyst expect financial institutions can announce higher than expected with Bank of America initialized to government that BofA gained profit in the first two month of year 2009 and it might not need US government bailout.
Also, this is what happened, NASDAQ is up 12 of 14 time before GOOD FRIDAY and it is proven that eight straight since 2001 (based on Stock Trader Almanac 2009), this occurs on Wednesday, April 8th, 2009 and the next Thursday, market might be not too crowded because Passover day.
All my friends, good luck in year of 2009 and always trade safe :-)
To learn more how to make consistently profit on bearish market
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