| All the major US indices were negative. For the week the Dow Jones Industrial Average dropped 285.73 points, or 2.10%. The Standard Poor's 500 Index dropped 36.71 points, or 2.44%, while the Nasdaq Composite dropped 70.42 points, or 2.60%. For a second week in a row the Energy sector was the strongest sector. It has been followed by the Technology sector. The Financial sector posted the biggest weekly percentage losses since Oct. 19. It was the worse performing sector for the second consecutive week followed by the Consumer Discretionary sector. The Basic Materials sector is the most overvalued sector followed by Technology while Industrial Metals/Mineral, Specialty Chemicals are among the most overvalued industries. For a second straight week The Financial sector is the most oversold sector followed by Services while Specialty Eateries, CATV Systems, and Regional-Pacific Banks are among the most oversold industries. |
| Presented by www.thegreedytrader.com Research Group. |
Sunday, December 16, 2007
Market Overview - 12/14/2007
