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. This suggests Bearish Correction is Coming!
I posted yesterday Dow Jones will be resisted by the 200d MA. Indeed, you can see that the high of Dow Jones hit on the 200d MA and closed lower. Again, this demonstrate the power of technical analysis as it helped us to know where is the possible ceiling to take profit.
Dow Jones opened higher at the start of the week with a big cheer to the market to move higher. Dow Jones now broke the resistance of the consolidation phase and this may suggest to have one more round of bull run again.
However, a tough 200d moving average is just around the corner!
Are you trading any US dollars in the forex market? Well, I have come across a video today that is pretty interesting to analyse the US dollar against some other currency pairs.
I am sharing with you here.
It is now time to take another look at the SP 500.The SP 500 index is caught between two trend lines that are the dominant technical indicators right now for this market. If either gives way, it will point the direction of the next major swing.
After lots of leaked news and rumours, the final verdict of the bank stress test result was finally announced. Some banks needs extra capital while some do not. What’s next now for the stock market movement? Is it going up or correcting downwards?
Let’s check out it on a video now!
I was anticipating the stock market to show some weakness or even would have done some correction this week. However, the market seem to continue its bull steam and keep running up. Are we ready for a bull run?
Fed chief Bernanke gave some optimistic report to the US congress that he expects the economy to start growing again this year. There are also report showing that the rate of job losses is slowing down. These are some good news to cheer the market up.
Let’s listen to what a hedge fund manager has to say about our current market!
It is a earning report season now in the US markets. Ford today announced a better than expected result and this good news seem to push the US market higher.
Chrysler is close to filing Chapter 11 of U.S. Bankruptcy laws as early as next week.
Everyone is waiting for the news of GM.
Another round of market tsurami might be in the formation… Beware, and exercise extra cautions if you are still in the market.
