A similar story on the market to Friday and a very similar bar on the chart. Early losses were recovered by 1.00pm and range trading became the order of the afternoon to finally close near the day’s highs. Once again the lows were rejected as the XJO clings to a support area around 4450. Volume was again light and a loss of 1.5 points was recorded. Sectors were mixed, the biggest movers being Consumer Discretionary and Energy which were both 1.2% lower. News Corp continued its slide, down another 4% on ultra high volume and big volatility as the saga continues and the plot thickens. The US market managed some small gains on Friday night, Dow Jones +0.3% and the Nasdaq +1% but may struggle to add to those tonight if the futures are going to be any indication as they are down around 3/4 of a percent in night trading at the time of writing. This is certainly not a given, of course, they often provide little guidance.

Similar stock trading tips:

1. Thursday 14th July, 2011
2. Monday 4th July, 2011
3. Monday 11th July, 2011