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Posted by btr Thu, 14 May 2009 01:46:00 GMT
It’s down more than 180 points. If the current uptrend line is broken, the first support is at 8000-8100 level, which could become a good base to build some long positions if the worst is over. Let’s watch closely as overall it’s oversold at this point. The V shape bounce needs some time to consolidate even we’re entering a new uptrend.
The next support is 7500, which is previous low before this last leg down.
Posted by btr Fri, 01 May 2009 01:52:07 GMT
Dow Jones Industrial has climbed back over 8100 level.
It has approached the downtrend line very closely. Although there’s a chance for it to break the downtrend line, but before it happens, I’d rather to sell into this strength to build more cash position.
Posted by btr Fri, 16 Jan 2009 01:35:00 GMT
INDU is retesting the 8,000 level again. As we can see, it’s currently over sold and the volume is slightly above average. As we have said before, around 8,000 is the major support level. For a short-term trade, it’s time to buy some.
Posted by btr Sun, 21 Dec 2008 01:05:00 GMT
Dow Jones Industrial Average has been up and down for the past many weeks but it appears that it has moved towards sideways. As recession has been officially announced and confirmed, how much has the market priced in all the bad news?
Certainly investors are looking for values after significant drops, but it’s not clear that if it will range bound between somewhere below 8000 and somewhere above 9000.
If it builds a long base above 8000 and consolidates the base, we may see more upside but we need to see the confirmation.
Posted by btr Fri, 31 Oct 2008 23:54:00 GMT
It closed up today and the week so it’s following through the big shoot up the other day. As we can see that on the daily chart, it’s in short-term over bought condition now. It’s slowly walking out the downtrend line, but we should be cautious as the volume was not confirming.
If you have significant equity positions in your portfolio, any rally into 9,500-10,000 zone can be your opportunity to lighten up and preserve your capital during this bear market.
Posted by btr Mon, 13 Oct 2008 23:28:00 GMT
Dow Jones Industrial Average bounced back hugely with more than 11%. It reversed the dramatic slide in the past weeks, but the downtrend line is overhead right now. It would take some time to work it out the resistance or another drop is more likely after hitting the downtrend line.
Posted by btr Tue, 22 Jan 2008 05:57:00 GMT
US market was closed due to the MLK holiday but the other markets in the world had closed down a lot from 5 to 7%. Asia markets are down more than 5% the second day. How will the US market react? Unless it’s prolong decline, it might be a buying opportunity. But be carefuly the old saying “don’t catch the falling knife!”.
Dow Jones Industrial will break the 12,000 support for sure. Next support is 11,500.
Be careful tomorrow!
Posted by btr Tue, 27 Nov 2007 01:23:00 GMT
Dow Jones Industriral is moving towards its support areas. The first one is around 12,700 and 2nd one is above 12,500.
Posted by btr Sat, 04 Aug 2007 01:49:45 GMT
The reversal we were talking about came after all.
13,000, well a round number, is the major support. We will see if Dow Jones can hold itself, but the drop today is ugly.
Posted by btr Sat, 07 Jul 2007 01:55:00 GMT
It’s forming a triple top, likely reversal?
However, QQQQ broke out but the lighter than average volume makes the breakout less convincing.
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