Friday 7th November - Daily Stock Market review

After yesterday’s big fall in the Dow, I expected the GDAX to continue to fall with the rest of the euro indices. Alas no. It rose, as far as 5000 before dropping back to 4938, although that’s still a rise of almost 130 points. Am still short from 4986. All the markets are in a downward trend even after this rise and the GDAX still closed below the important 20 day exponential moving average, so I’ll keep this trade open and see if the markets fall on Monday.

Oil rose then fell again. Am still short from $59.36. Oil closed at $57.62, barely changing from yesterday’s close. Am keeping this trade open hoping for further falls on Monday, but I wonder just how much further oil can fall.

The Dow jumped today. Quite surprising considering that the US unemployment rate increased more than expected. Must be a reaction to the huge falls we saw on Wednesday and Thursday. No trades triggered. Dow closed up at 8944, but is still in a downward trend and below the important 20 day exponential moving average, so we may see a fall again next week.