At the beginning of July, we observed that both Dow Jones and S&P500 broke key support . Then, we next observed that there was a US market can have high probability to rebound in mid of July when it was trading near the 50% Fibonacci support. Indeed, it rebounded, crossed 20d MA resistance but now [...]
Dow Jones broke 20d MA resistance last friday, unfortunately, it did not continue the momemtum to ride higher. Instead, S&P500 was resisted nicely on the 20d MA. So, I strongly believe that the market is going into the side way as both Dow Jones & S&P500 are losing steam as the volume is decreasing.
Any other [...]
I was looking at Dow Jones testing the 20d MA resistance last Friday. And, it conquered the 20d MA resistance and formed a white candle on Friday. This has been the rebound that many traders are waiting for.
It is not surprised to have a technical rebound now, as the bear has been having party for [...]
After a long wait, US finally rebounded with white candle for 2 consecutive day and it hit the 20d MA resistance at approximately 11,400 range as anticipated .
Dow Jones is hovering around 11,426 now as I am writing this post. The market is either moving up or moving down. It is a tug of war [...]
I posted 2 days ago that I have been expecting a Dow Jones technical rebound , wow, you know what, it happened yesterday with a big white candle. Furthermore, Dow Jones was nicely supported on the 50% Fibonacci line as I was anticipating. Phew, that’s the power of technical analysis.
There are also some positive news [...]
I was expecting a market technical rebound last week as I saw that many indicators were oversold. However, that did not happen. The market turned very bearish after negative news broke out from mortgage financiers Fannie Mae and Freddie Mac.
Let’s examine the technical analysis of Dow Jones & S&P500 again!
I draw the fibonacci lines using [...]
I am a bit tired today after a long day of work. As usual, I will still take a glance on the index chart to have a feel on how the market is doing.
If you do follow my post earlier, I am bearish on the US market, but I will not open short position now. [...]
I was having a bearish view on the Dow Jones end of June, we continued to see black candle formation in last week price action. There isn’t any good news to stimulate the market lately. July is report season and we will start seeing quarterly report from the companies this week.
I remain bearish in the [...]
