Google Ad Choice

Monday, October 10, 2011

Dow Jones on 10 October

Everybody must be wonder why Dow Jones will turn red after a nice week of rally and many thinking it is a start of a bull run. Basically there is yet no sign of actual bull run yet..

1) Trendline - downtrend- (Bearish)
2) Formed lower low  - (Bearish)
3) MACD -Bullish Crossover (Bullish)
4) RSI -  above 30% (Bullish) -
5) Sto - Formed Bullish Crossover and broke above 50% (Bullish)
6) ADX - high momentum and Bearish( Bearish)
7) Candle Stick -Dark Cloud (Bearish)
8) Global Factor -Europe Fear ( Bearish)
9) VIX - Going up ( Bearish), There might be a rebound in the VIX and which is a reverse proportional with Dow Jones.



      3 Points

Winner Bear ( Throw down wrestling style)

Greece Factor again!!

Winner BULL

WIth good news, let hope Dow Jones will take this opportunity to break the previous high to form higher high to show a strong bull trend

Entry Price 11560
Resistance at 11706 and 11884
Support a 11015,10931 and 10690

1 comment:

  1. Faber has move to a high of 1.48 before closing 1.46 resistance at 1.55 level..Extension of HSS consession will only give huge boost to Faber share price if there is a tariff increase charge to MOH /Gov. BTW Dali wrrote about MALTON today and it did nothing to the share price only up a fraction..Problem is MALTON has to break the hard headed 60 cent resistancel level then only MALTON can fly HIGH to 70 cent level..OTHER WISE back to 53 cent level..SPSETIA_WB STILL IN MY HEAD