After major US indices gave up more than 2% overnight, our market opened lower, but having factored in much of the decline on US markets yesterday, rallied into the early afternoon. This could not be sustained however, and any gains were given back for the XJO to close down 0.2% on increased volume and choppy price action. Markets are uncertain, problems in Europe seem to surface daily – it seems to have become the elephant in the room. Nothing much has changed from yesterday – trends are down, momentum is down and the market is short term oversold, which of course does not mean lower levels can be reached near term. US markets are closed tonight for Thanksgiving Day so all eyes will be on Europe tonight.

Similar stock trading tips:

1. Thursday 14th July, 2011
2. Thursday 3rd November, 2011
3. Thursday 10th November, 2011
4. Thursday 17th November, 2011