Wall Street- Tough stock trading session ahead

November 22, 2007

The present situation clearly seems like Wall Street is in heavy pain and going forward it seems like to continue due to growing uncertainty in US economy, sub prime issue and wilting mortgage market bringing the stock market investor sentiment down.

Looking from the technical analysis perspective after the breakdown strong support of 13k in Dow Jones, the market is now clearly headed towards the very important and main support level at 12,500, if unfortunately the Dow Jones breakdown the 12.500 level then this market clearly seems to be intermittent bear market and the next level will be hard to judge.

At this point, I will wind my long position and will sell all the highly vulnerable stocks which are picked for stock investing and will look for fresh stock trading position at level of 12,500 in only selected stock.

The Dow Jones fell 211.10, or 1.62% to 12,799.04, S&P 500 index dropped 22.93, or 1.59% to 1,416.77 and Nasdaq composite index tumbled 34.66, or 1.33% to 2,562.15.

Taking clue from Wall Street all the major stock market indices of the world mainly from Asian and European stock market suffered a great loss on Tuesday and also were in red territory on today’s trading session.