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 The Weekly Report for September 3rd - September 7th, 2007

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gastaoss



Number of posts : 440
Registration date : 2007-07-01

PostSubject: The Weekly Report for September 3rd - September 7th, 2007   Mon Sep 03, 2007 3:15 pm








The Weekly Report for September 3rd - September 7th, 2007

September 2, 2007- Market Summary
The conditions in the markets combined with a flight to safety has caused President Bush and Ben Bernanke to make speeches in an attempt to ease investors' growing fears about the economy. The major indexes have experienced a lot of volatility over the past few weeks and many traders are still unsure about how the growing credit problem will affect the markets over the longer term. We believe that more time will be needed to see how the markets will react to their nearby support/resistance levels before a concrete prediction can be made about the market's direction. As you can see from the charts below, the major indexes have created a series of lower highs, which many traders will see as a sign that the downward momentum may not be over.

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Casey Murphy

Senior Analyst, ChartAdvisor.com
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