The Dow Jones Industrial Average – Market Maker Steve Kalayjian
January 13th, 2015 – Steve Kalayjian The Dow Jones Industrial Average closed down at 96 points which led to massive selling in crude oil. Today Crude oil was down 4% closing down at $2.65. According to Goldman Sachs they see oil leveling out in the mid 20’s throughout 2015. Prior to the detailed report released by Goldman Sach’s detailing this information on Monday, the Dow’s future was looking strong and the SMP’s were up almost 9 points. When Goldman Sachs released that report, brokers began to sell quickly around 10AM. Stocks like Exxon Mobile were down $1.77, Chevron down $2.33, Hess Corp down $2.69 which are heavily weighted in the SMP 500 which had a significant sell off during the day.
Investors should be looking for a bounce in the market because as a long term investor now is the time to sell any longs you may have. Possible trouble exists at the end of the first quarter and the start of the second quarter as there is a gap that exists on the Dow Jones Industrial Average at $16,100.
If the market gets a push above $18,000 if you are a long term investor this is the time to sell.