Market Analysis – Oct. 30th.
Market Analysis – Oct 30th.
The market closed green today. Quite a fall in the first 3 hours. But then a steady rise until the very end. Last few days, the market does rally in the second half of the day but then does a sharp decline in the last 1 hour. Yesterday’s sharp decline didn’t turn around. Today’s decline turned around just fine, without any issues. This is the second close above the 9K mark in the last few days. Doesn’t mean much in and of itself. It will have to close above 9K mark consistently for it to be a good support point. For now it seems to be fine.
Most securities that I’ve been watching closed green today. Except, MSFT. Which is the one I hold some calls on. If the market continues, the uptrend, MSFT should rise as well. Without issue. However, hypothetically, if the markets were to decline, then those calls wouldn’t be worth much. Not betting on those to fall. So will continue to hold for now.
Let’s see the MSFT chart. It is still showing the CMF is indicating some sell off pressure.
MSFT - Oct. 30th. Although, it is pixel-splitting, the MACD line seems to be above the trigger line. There seems to be a little red dot visible below the blue line. But that’s not as much as technical thing as wishful.
Lastly, the DOW did well.
DOW - Oct. 30th. MACD shows some divergence.
