Today’s market is about the ISM number surged to 59.4 when the economists were expecting it to fall to 52 from 53.6 in August. This leaves the market no doubt as to what the Fed will do the next meeting. Dow and S&P reverse from positive to negative, but NASDAQ did close in positive territory thanks to strong global chip sales. What is encouraging about today is that the market did not tank and that tells me the market is continue to be bullish. My stance right now would be short term bullish till the end of year and bearish next year because of the Fed.

This entry was posted on Monday, October 3rd, 2005 at 10:22 pm and is filed under Market Recap, Stock Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.