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 in Mutual Funds, Trading, Stocks, Index | no comments | no trackbacks
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 in Trading, Stocks, Index | no comments | no trackbacks
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 in Trading, Stocks | no comments | no trackbacks
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 in Trading | Tags DowJones, INDU | no comments | no trackbacks
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 in Trading, Stocks | no comments | no trackbacks
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 in Trading, Stocks | no comments | no trackbacks
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.
Posted in Trading | no comments | no trackbacks
Posted by btr
Tue, 17 Apr 2007 04:00:00 GMT
It will have to test the previous high first. We might see a breakout from this ascending triangle. So the resistence is at 12,845 and then 13,000 if it breaks out.
Posted in Trading | Tags 13000, INDU | no comments | no trackbacks
Posted by btr
Thu, 01 Mar 2007 03:16:00 GMT
Dow Jones Industrial has broken its uptrend line. It will likely test the major support area at 12,000.
Tuesday’s big drop was the first in a few years.
Posted in Trading | Tags DowJones | no comments | no trackbacks
Posted by btr
Sun, 19 Nov 2006 20:06:53 GMT
12,000 is at the rear mirror now. INDU has been strong in the past two weeks. Even though it’s in over-bought territory, INDU has the momentum to reach higher at year end rally. The mid-term election was over, the market did not over-react to the new political landscape in Washington.
Posted in Trading | no comments | no trackbacks