Stock Market QuotesStock markets are hovering around critical levels at the moment with the DOW at 7625 the NASDAQ at 1527 and the S&P500 at 797 the FTSE is at 3926. The markets have bounced back around 20% in the last 2 weeks and that is quite a hefty bounce but they now need to get above certain critical resistance levels if they are to carry on upwards rather than turn around and head backdown and even take out the lows of around 6600 on the DOW.
Oscar Carboni says on his site that he is short the S&P at the moment in his two recent videos - stock trading - he has pointed out that we may be seeing a fundamental shift in the stock markets from being bearish to being bullish, although in his most recent video he did in fact sound more bearish than bullish, saying that the tests of the highs had failed at resistance levels and therefore we can expect to see more moves to the downside.
As Oscar has a lot of experience and usually (although not always) gets things right he is worth listening to. Similarly Brian Shannon at Alphatrends is also pf the opinion that the markets are breaking down at the moment, with the 5 day moving average turning down.
So all in all most people seem thinkthe stock markets will be heading down, but at the moment they are heading up ! Maybe the G20 meeting on Thursday will change perceptions, as not many people are expecting much to be decided, particulary not with regard to the stock markets.