Wednesday 19th November – Daily Stock Market review

GDAX

The GDAX fell today. No signs of a rally then. The market didn’t come close to my trade level of 4604, and closed down at 4354. My trade levels for tomorrow are 4479, 4575 and 4671 all up. I have no trade levels for a fall.

Oil

Oil was frustrating today. It rose up to $52.92, triggering my trade at $52.74, but oil then fell back stopping me out for a loss of 120 points. Oil closed at $51.71. My trade levels for tomorrow are $53.16 and $54.58 up, and $51.74 down.

Dow Jones

Another erratic day for Wall Street. The Dow fell, triggering my trade level at 8358, but then rose quickly, stopping me out for a loss of 120 points, and then proceeded to fall. In the last hour of trade the Dow fell 250. On the day if fell just over 5%, closing just below 8000 at 7997. The fate of the big three automotive companies played heavily on market sentiment. The Dow hit 7969 on November 13th and rebounded from this level. If the Dow falls below this level in the next couple of days, we could see a large fall over the coming weeks. My trade levels for tomorrow are 8241, 8350 and 8524 all up. I have no trade levels for a fall.