Accendo Traders Technical Analysis Trade Plan
Effective Trade Plans delivered daily from AccendoTraders.com. Here is our video technical analysis trade plan for Sunday, July 20th.
The market continued to be exhausting for its participants. We started off with the uncertainity brought on by the failure of IndyMac Bank. There was plenty of government testimony in support of the debt of Freddic Mac and Fannie Mae by Secretary Paulson and Fed. Chairman Bernanke. However, the market technicals of oversold were lessoned by the earnings report by Wells Fargo. Wells Fargo beat their earnings expectations, but more importantly, they rose their dividend.
The rise of the financial sector continued the next day when JP Morgan followed up with a better than expected earnings report. Although Microsoft and Google missed their earnings on Friday weighing heavily on the NASDAQ, the broader market of the S&P 500 remained solid off of the earnings report of Citigroup. Click on the video below to see more of our technical analysis video trade plan for this week.
To purchase a subscription to our daily video tecnical analysis trade plans, click here.
If you enjoyed this post, make sure you subscribe to my RSS feed!
Discussion Area - Leave a Comment