I was looking at Dow Jones hitting the 200d moving average (MA) resistance. Indeed, the index was stopped right at the 200d MA resistance and a doji was formed.
Doji Formation on Dow Jones
A doji suggested that a short term correction is underway, we should see some fall on the US stock market in the next 2 days. In addition, Fed chief Bernanke is now suggesting the US government to start working towards reducing deficit, will this news become the stopper to end the bull run?
It is hard to say at this junction, but let’s monitor closely to how the market reacts in the next 2 days, there is a likelihood to end the bull run if the support is broken.
Doji Formation on Dow Jones
DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.
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