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Wednesday, August 17, 2011

Dow Jones forming higher high or lower high?

Dont be too happy or sad about Dow Jones because we wont know what will happen next. Is this a dead cat bounce or a discount buy?

It look like the whipsaw is stabilizing but we are still uncertain about it.

1) Trendline - Downtrend- (Bearish)
2) Formed lower low - (Bearish)
3) MACD - Formed 4R1G (Bullish)
4) RSI - Broke above 30% (Bullish) -
5) Sto - Formed Bullish Crossover and broke above20% (Bullish)
6) ADX - high momentum and Bearish( Bearish)
7) Candle Stick - Hanging Man (Bearish)

4 Points

       3 Points

Winner Bear ( Throw down wrestling style)

Let wait for Dow Jones to formed a higher low or higher high first before going for long because it maybe a higher low.
Entry Price 11575
Resistance at 11765 and 11876
Support a 11000, 10710 and 10510
Daily Buy Call in Forum..  (Do not forget to view here for daily Stock Picks)

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