Dow Jones Industrial Down More than 200 points
Posted by btr Fri, 22 Jan 2010 01:48:01 GMT
As expected in the last post, it reached the resistance level and came down in a big way.
| stablevalue.com a blog on stock market and things of interest |
Articles
Dow Jones Industrials Retreated
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.
Is the worst over yet?
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.
Dow Jones Industrial Average Is Walking Out Its Downtrend
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.
Market Rockets Back
Posted by btr Tue, 28 Oct 2008 23:17:00 GMT
All major markets rocket back over 10% today. A lot of short squeezes probably. I don’t believe that there’re so many longs that couldn’t wait and jump on the buying spree.
On the monthly chart of Dow Jones Industrial Average (INDU), you can see that we’re approaching previous low, which occured 5 years ago. Have we reached the bottom yet? Not sure, but we might be near the bottom judging by the previous low, which is the current support level.
The looming global recession is on everyone’s mind, so it’s possible that the support may not hold. There will be many ups and downs around that support. We can certainly play longs at the support level and shorts at any rally near 9,500/10,000 zone. The markets are currently in oversold condition and volatility will remain high as seen in the past a few weeks.
On the 3-month daily chart, INDU is moving away from the oversold condition. If we don’t see a follow through on this snap back, the downward trend will continue. 8,000 looks like a good support for now and the more fight between the bears and bulls around 8,000 the stronger it will become. If the downtrend continues, 7,500 is the next major support to watch.
Dow Jones Industrial Average 11% Bounce
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.
Melting down ...
Posted by btr Fri, 10 Oct 2008 02:18:00 GMT
The melt down continues. We have broken 9000 level. Looking back 10 years, the support level is around 7500.
Dow Jones Industrial Average is at oversold condition, but with current credit crisis still spreading and running its course, any technical bounce is possible but would not last long.
Unless you have significant cash positions, wait in sideline. Cash is king in this juncture.
INDU reaching support area
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.
It's getting ugly now
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.
2006 Year end review
Posted by btr Sat, 30 Dec 2006 18:25:00 GMT
In 2006, RUT performed the best followed by INDU and S&P 500. QQQQ recovered the 10% loss from the mid-year and ended up more than 5%.
Both QQQQ and RUT are in the overhead resistence levels, only INDU and S&P 500 broke out. INDU is at all-time high and S&P 500 is about 100 points away from its all-time high.
Market News And Commentaries
Updated at Sun Mar 07 01:25:04 -0500 2010
- NewsWatch: Bank stocks climb from abyss, find footing fragile
But after 146% surge, bank sector may languish, restraining broader market. more
Source: MarketWatch.com - Top Stories
- Make It Fun
In law school when I started trading actively on a full-time basis, I had little money and lots of interest in the market. In order to continue to improve myself and learn to be better, I had to find creative... more
Source: The Kirk Report
- This week's top stories [05 March 2010]
Our top articles ranked by reader popularity. more
Source: The Economist: Daily news and views
- Links for 2010-03-05 [del.icio.us]
Source: Maoxian
- Obama budget to add $10 trillion to debt
If President Obama's 2011 budget were put into effect as proposed, the U.S. federal government would add an estimated $9.8 trillion to the country's accrued debt over the next decade, according to a preliminary analysis from the Congressional Budget Office.
more
Source: Market, personal finance, media, and technology expert commentary - CNNMoney.com
- A 'short' look at Proshares ETFs
Source: BlogginWallStreet
- The Week Ahead: Market Anniversaries and European Earnings
Source: China Stocks News and Analysis from Seeking Alpha
- Market Week in Review
Source: BETWEEN THE HEDGES
- Foes Take On Debt Curbs From CFTC
An attempt by regulators to protect investors from volatile global currency markets has triggered an uproar among lawmakers, currency dealers and thousands of small traders. more
Source: WSJ.com: Markets
- March 4, 2010 Stock Market Recap
As is so often the case, we're stuck in a bit of a holding pattern ahead of the monthly payroll report. There are some clearly defined 3-day ranges on the charts below and they should break (one way or the... more
Source: Trader Mike
- America must do more to help its homeowners
As falling prices begin to hit the middle to higher ends of the housing market, we are looking at another foreclosure wave, writes Mort Zuckerman more
Source: Financial Times - Comment
- Tokyo enjoys best week of 2010
Asian stocks enjoyed a second successive positive week as concerns eased about external factors such as Greece, and little emerged to disrupt the generally rosy outlook for local economies more
Source: FT.com - Asia Pacific Equities Market Data