US Stock market summary Thursday 03/25/10 Key reversal day
Today was a very important day for the current up trend and quite possibly the start of the reversal that we feared could be looming. This was a Key reversal day for most of the US indices.
8 days down in a row for the US DJ Utilities.
The markets turned south at 1:29PM EST Thursday after the dow hit 10955.41 and never looked back.
Investors look ahead to economic reports
Investors will be looking forward to tomorrow’s economic data, and especially the fourth quarter GDP report.
Also tomorrow is the fourth quarter personal consumption reading and the University of Michigan Consumer
Confidence report. The Dow is up 80 points, the Nasdaq is up 21 points, and the S&P is up 7.50 points.
Senate passes revisions to healthcare reform in 56-43 vote
CBOE Put to call ratio is showing signs of a eminent turn in the markets overall directioanl bias.
Ratios
Total Put/Call Ratio 0.87
Index Put/Call Ratio 1.66
Equity Put/Call Ratio 0.50
CBOE Volatility Index (VIX) Put/Call Ratio 0.83
The VIX rose 4.84% on the trading session.
WCRX +30% in the next Year? Barrons thinks it has it in it.
The US DOLLAR is at 82.00 @ new highs and breaking out with Greece, Spain and Portugal worries for the EU.
Stockshakers currently have short positions open and we are set for additional positions to trigger during the open Friday.
Current stops for these short positions will be Thursdays Highs of the trading day 03/25/10.
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