17/04/2009 after market comments

As mentioned in the previous post, the market went up to 875 but closed at 869 just below the level I have been mentioning for weeks now.

This is the second time 870 gives trouble as of closing.

Next week will be difficult. I think the markets will start optimistic, the bulls are strong but this is a BIG level and to really break through this level , the bulls need some good news which show that the fundamentals of the economy are getting back on track slowly.

In case we have disappointing figures, we go back first till 830s.

Next week we will have leading indicators, initial claims, durable orders,existing home sales and new home sales figures which will have significant effect on the direction of the market.