Dow Jones still in uptrend due to good performance result by few big shot like Apple, IBM , Google and many other counter but the big question will this survived the big decisive outcome on the Debt Ceiling on 2 August. Will this be a turning point of next recession or super bull?
Observation
1) Trendline - Uptrend( Bullish)
2) Formed higher low on the 20d MA support- Bullish
3) MACD -Uptrend( Bullish)
1) Trendline - Uptrend( Bullish)
2) Formed higher low on the 20d MA support- Bullish
3) MACD -Uptrend( Bullish)
4) RSI - Retracing from 70% ( Bearish)
5) Sto - formed bullish crossover and above 70% (Bullish) but becareful if it retrace below 70%
6) ADX - strong momentum and bullish
7) Candle Stick -Bearish Harami ( Bearish) . It is testing the market support whether it will continue to bull or bear.
5) Sto - formed bullish crossover and above 70% (Bullish) but becareful if it retrace below 70%
6) ADX - strong momentum and bullish
7) Candle Stick -Bearish Harami ( Bearish) . It is testing the market support whether it will continue to bull or bear.
2 Points
5 Points
Conclusion
Winner BULL
Entry Price 12800
Take Profit at 12893 and 13131
Support at 12568
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Dow can surge to 12000 levels before cracking down, most the stocks are looking tired, its time to be cautious on longs. please visit http://www.kalpeshmaniar.com for accurate forecasting of markets.
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