On the eve of the stock market trading session on Wednesday October 27, 2010 , the US dollar has been strengthening. If this trend and the negative correlation between the stock market and the US dollar continue, the stock market might trade lower at the open. The strengthening of the dollar was noted in the Monday's afternoon post (a copy is included below). The stock market started its retreat, and at Tuesday's market open stocks gapped down. Technology stocks help pull a recovery, but the basic material stocks in general was a weak sector of the SP500 on the trading session of Tuesday. The strength of the technology sector might have been influenced by IBM news to buy back their stocks.

0 comments

Recent Entries

Recent Comments