Sean Seshadri

Reading the market

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Reading the market

• The broad markets rose modestly today as investors sent stock higher based on the sentiment of key retail reports.

• The Dow rose 9.69, or 0.1 percent, to 10,415.54. The Standard & Poor's 500 index rose 1.62, or 0.2 percent, to 1,094.16.

• The Nasdaq composite index rose 6.26, or 0.3 percent, to 2,215.70.

Reading the market

• The broad markets led by strong retail sent the dow up over 103 points.

• Sean Seshadri stated that walmart and home depot issued upbeat numbers and this would be a sign that even though the market opened lower stocks managed to get strength because of better sentiment.

• Almost all the big retailers were higher as except Bjs which lowered expectations for the year.

Reading the market

• At key support levels during the day lux investments wants traders using appropriate risk managements controls to place trades with conviction as a trader will have wind behind the entry which is sentiment.

• Even though the market ended up higher by only a few points there was plenty of intraday activity that savvy traders could profit from if they bought and sold at key reversals.

Reading the market

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