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, December 14th.

We could be seeing the beginning of a sentiment change for traders in the stock market.  We had yet another week of bad news reports; however, the market was able to hang on and not fall back to October/November lows.  From job cuts, earnings warnings and a decline in November Retail sales #’s, the economy continues to show serious signs of weakness.  The market was able to digest these releases and continue to move up and not to give back the majority of the gains.   Even after the huge gap down after the senate failed to pass their version of the auto bailout bill.  The market was able to fight its way higher to end the week unchanged.

Now, this move on Friday was based on the assumption that the government will not let the auto industry fail.  There are several sectors that may see a push if the bailout finally goes through (steel, metals, manufacturing, etc.).  Even with the newfound resiliance to stand in the face of negative news, the has yet to find the catalyst to get above the 50 moving averages.  It has proven to be strong resistance for all three major indexes.  What’s in store for this week?

Watch the video for more:

 

 Accendo Traders Weekend Technical Analysis Trade Plan for Sunday, December 14th: Play Now | Play in Popup | Download

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This entry was posted on Sunday, December 14th, 2008 at 9:57 pm and is filed under stock market commentary, stock picks, trade plans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response.