Stock investing online - stocks heading down again?
Are the stock markets ready to pull back on Friday?
I've been watching Signor Carboni's videos again and he reckons Friday (today) should be a down day, he's got some interesting stock charts on his latest video but unfortunately he has disabled the 'embed' function on Youtube so I can't put it up here (I could put a link to a site, but these days people complain when I put up links to their sites as apparently Google now punishes sites for getting links!).
But basically he was talking about the Nasdaq and saying that nowadays where Apple goes the Nasdaq follows and Apple is looking decidedly bearish, down to 598 possibly. Plus we have the debacle with what happened yesterday with Google and the early release of its results by R R Donelly and more importantly the fact that results were not too good, with cost per click falling by around 15%, so maybe Google will need to rethink its business model and show relevant results in its first page instead of an endless list of Amazon pages or Youtube videos, which is what I often get shown these days. (There are alternatives to Google by the way, such as Duckduckgo.com that shows you search results without all the ads).
So Apple's chart is not looking good, Microsoft's results were not too good due to weak PC sales ahread of the Windows 8 update, Google was not good, IBM's chart looks pretty awful too, so is this unloved bull run finally over? Not according to the 'stock mentor' who says in the video below that he expects a short-term pullback, possibly to the end of the week, but then he expects the bull run to start up again, until election day in the States.
1470 is key on the S and P on the upside and 1420 on the downside if we break one or other of these levels then that would show the way things are headed.
At the moment stock index futures point to a mixed open on Wall Street on Friday, futures for the S&P 500 are down 0.1 %, Dow Jones futures are up 0.05 % and Nasdaq 100 futures are down 0.16 % at 0330 East Coast time. European shares are currently down slightly -8 points for the FTSE but weekly gains are strong and Spanish and Italian bond yields have hit their lowest levels in over 6 months. Investors are waiting for results from several industrial companies on Friday, including CNBC boss General Electric (GE.N).
Further reading - online investing basics