It appears we got our weekly rally in the markets that went into Tuesday/Wednesday. Since we did not go over important numbers we appear to have a probable retest of support in the Dow Jones.
March appears to be volatile, yet in the yearly perspective(long term) world wide capital really has no where to go but into US equities for safety. It will be interesting to see a dip which Europeans and Asians may look to buy more (especially with European elections coming into May).
A Wile Ride In Tesla
Telsa was extremely volitile jumping up for the week. We appeared to elect important bullish numbers on the monthly close of February, TSLA closed at 319.88, but right after the close the traders had there fun and after market sold off the rally heading down to 308.22 (a 11 point dip!).
This after hour volatility will be present thru March as well.
Zinga Had A Daily Uptrend
Watching Zinga, we see it made a new high 2 days in a row, even closing over 5.18 which appeared to be important closing number. (Which gave a mid rally) Yet this is only for the daily, nothing on the monthly gave direction so while it may have some juice, we will have to watch the move in March. Also watching tomorrow for the weekly close, but whats more important is really long term trends such as the monthly.
Should be an interesting stock to watch.
Electronic Arts Appears to Be Crashing Daily
Since EA did close below an important number and closed lower than the prior day, we may see a dip into Friday (or crash short term).
While the monthly numbers are still showing nothing, daily we have some negative move possibly.
Expect Support To Be Tested In Dow Jones
Dow Jones is usually leader, we may see support being tested which could get everyone even more bearish. One would think it’s a good thing for the majority to be wrong when looking at the markets. So lets see how the markets react.