Hi everybody, this is the first week that i had worked hard in this blog. I hope my analysis has been useful to you.
Anyway, Let´s go to the point:
The last session the composite was going down -2.59% and closed at 4.128, even lower than the week before.
During the session we noticed about the jobs report and it wasn´t a good data.
As I mentione in the week forecast the nasdaq went up till 4280 points but unfortunetly the economic data didn´t help to reach the target.
Stocks like AMGN, LNKD, AMZN, FB, BIIB had suffered several corrections.
For the next week it´s probably the composite will correct a little more but at the end of the week will be above the last session (4.128).
The MACD is now below 0 and the stochastic is going down at 61%,
The RSI is at 38.79%.
In my opinion the worst scenario could be at 4.065 points. At this point the composite should bounce (we have to corss our fingers).
As I said, i´m just beginning this blog, so I haven´t a clear blog structure yet. I´ll look for the stocks that I think will go up and down and I will publish in the WEEK FORECAST II (now in construction)in this blog.
Please make constructive comments to improve this site.