Wednesday, January 9, 2008

US stocks back in green.

Today we can see session again with high volatility. In contrast to previous days today it looks more in favour of bulls. If you look at the chart Nasdaq bottomed with similar candlestick as on August. If this is really short-term bottom we will see in following days. I think important is awaited earnings kick off which coming to the street today. After closing bell Alcoa (AA) releases earnings result.

Major broad US indices are significantly off their October's high. Dow Jones Industrial ($INDU) and S&P500 ($SPX) roughly 12% and Nasdaq ($COMP) is down 15%.


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