Our market began with further losses on the open after the long weekend and two sessions on Wall St. However, it promptly rejected the lows and staged a rally for the remainder of the day, closing near the highs. The XJO finished the session half a percent up at 22.9 points higher. This could be a catalyst for a bounce of sorts as the market looks to move out of an oversold position and hold the support zone it is currently in. Penetration of this zone to the downside and the market would have 4200 in its sights as the next significant support level. The major banks had a solid day helping the Financials sector 1.1% higher as one of the better performers. Economic data or of China seems to have been a driver, suggesting that growth there remains steady. US index futures are also up in the US during night trading; + half a percent or so at the time of writing.

Similar stock trading tips:

1. Tuesday 7th June, 2011
2. Thursday 9th June, 2011
3. Wednesday June 1st, 2011
4. Thursday 2nd June, 2011