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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 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.
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.
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 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 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.
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.
This lackluster session was an appropriate end to a lackluster month of August. The market feels heavy to me yet it refuses to breakdown under the July lows. That could change if we get a bad number out of Friday’s payroll report. Until then, I expect trading to remain muted and contained with more
You see, even a blind squirrel can find an acorn once in a while... This was an archived video of my weekend chart show that I provided for members last Sunday. A number of members have found my videos helpful... more
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