Accendo Traders Video Technical Analysis Trading Plans

Effective Video Technical Analysis Trade Plans Delivered Daily from AccendoTraders.com. Here is our Technical Analysis Weekend Wrap Up Trade Plan for Sunday, November 9th.

The Stock Market once again showed who was in control.  In a week when our country made history, the stock market said who cares.  That’s right, the day after our country elected the first African-American President, the market began the biggest 2 day decline in history.  Now, many would say the pullback was necessary after 6 sessions up; however, the selling was much stronger than just your normal profit taking.

The market was shaken by Wednesday’s ADP number which showed over 150,000 job loss in the private sector.  This number was later confirmed and blown away by Friday’s employment data which showed the country lost over 200,000 Nonfarm payroll jobs.  This brought our total to well over 1 million jobs lost this year.  Not to mean they revised last month’s job loss from around 150,000 job loss to 284,000 job loss.  How in the world do you miss your number by 50%?

So which way will the market go?  Watch the video for more:

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This entry was posted on Sunday, November 9th, 2008 at 11:39 pm and is filed under day trading, stock market commentary, stock picks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response.