Stormy Dow ahead!

Tracking the Dow Movement on Thursday.


A bullish spillover from yesterday despite the report of a plunge in new home sales in August,the biggest year-on-year drop in nearly 37 years as quoted by the US Commerce Department.Meanwhile the unemployment insurance claim fell by 15,000 to 298,000 implying the drag from housing doesn't drag into the labour market.I think the figures from housing is going to cause jitters and rattled investors after they have digested the news.This should be very bearish for the market but it was offset by the good unemploment figures.Looking at the intraday chart,the opening was a long white candlestick and the closing was a bullish spinning candlestick lying in a congestion zone.It's not having enough oxygen to ascend further to the peak so might as well plant the victory flag here. http://www.tradingday.com/c/candlesticks/

The Thursday candlestick is spinning within the shadow (the wick) of Wednesday's candle.
Will it blow-out the lighted candle tonight and leave everyone in darkness again...yeah!!! possibly.
Allan Greenspan ex-Fed Chairman in BBC 4 commentary:"US risks of Imminent RECESSION getting higher.http://www.bloomberg.com/apps/news?pid=20601087&sid=aSvlyOApMals&refer=home