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© 2026 Benzinga | All Rights Reserved
June 20, 2011 3:43 PM 2 min read

Still A Fragile Market

by InTheMoneyStocks.com
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FlipboardIcon version of the Flipboard logo
In nearly every trading session over the past six weeks, the major stock market indexes have struggled into the close of the trading session. Four out of the past six Friday's have been sell offs. This is a very unusual occurrence and a change in character for the major stock indexes. Even today, the major stock indexes will rally higher only to sell off sharply after 20 – 30 minutes of upside. These markets simply continue to face selling pressure. Many traders and investors seem to worried about the problems in Greece and the rest of the European Union. Other investors are waiting to hear what the Federal Reserve Chairman, Ben Bernanke, will say on Wednesday after he releases his interest rate decision. The plain truth is that the major stock indexes remain weak at this time. Anytime the U.S. Dollar Index rallies intra-day the major stock indexes sell off very quickly. Traders and investors are running for cover anytime the U.S Dollar Index ticks up by 0.05 cents on an intra-day basis. At this time the U.S. Dollar Index chart is still one of the most important charts in the entire stock market. Does the Federal Reserve have any other bullets left in its arsenal to inflate the major stock indexes? Lets make no bones about it, the major stock indexes are very oversold, however, that does not mean they cannot go down even further. At this time, traders must simply trade the best chart pattern setups. If you are a trader or investor that does not know or understand the stock market technicals it is a good time to start learning them. Today, leading stocks such as Goldman Sachs Group Inc.(NYSE:
GS
), J.P. Morgan Chase & Co.(NYSE:
JPM
), and Wells Fargo & Co.(NYSE:
WFC
) are trading lower on the trading session. This type of action tells us that traders are still very cautious about the markets today. When the financial sector leads the markets higher that is when the investors and traders that move market indexes will be signaling actual conviction. Until that time, remain a short term trader and use charts. Nicholas Santiago InTheMoneyStocks.com
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Posted In:
TechnicalsIntraday UpdateTrading IdeasGeneralDiversified BanksFinancialsInvestment Banking & BrokerageOther Diversified Financial Services
GS Logo
GSThe Goldman Sachs Group Inc
$818.75-0.33%
Overview
JPM Logo
JPMJPMorgan Chase & Co
$288.48-0.35%
WFC Logo
WFCWells Fargo & Co
$80.30-0.15%
GS Logo
GSThe Goldman Sachs Group Inc
$818.75-0.33%
Overview
JPM Logo
JPMJPMorgan Chase & Co
$288.48-0.35%
WFC Logo
WFCWells Fargo & Co
$80.30-0.15%
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