Dow Jones targets and support level
- Dow Jones has crossed 10600 which was a good resistance area for the index.
- Today's closing is very important a successful close above 10600 is important for the bulls.
- Immediate target for the index is 10715 and on a successful close above this level can give 10900.
- Now If there is any dip from the current levels it should stop before 10380 levels. A breach of 10380 could be risky for the bulls.
- So the positional stop loss can be kept at 10380 on closing basis.
- RISING WEDGE OF DOW JONES FUTURES
Gap up over the channel line. Do you think that markets have to "make sense?", think about the Tech bubble of 1999. Commercial propoerty is hosed, but that doesn't mean the stocks can't run for the sky. However, one temperment to this bullishness....this could be a bronto throw off...what i mean is a silly stop catching rally up, followed by the big down. Arch Crawford has today as a big turn day, assumed to be down, and that barberous relic of Astro astronomy has been getting mainstream media coverage. The point is? Could be that he is getting gamed just like EWI gets gamed.
ReplyDeleteThe Euro pegged off a long lasting PRS 133 channel line. This is a very strong signal, however, it looks like it is consolidating, possibly for another run at the line. That would be bullish for equities assuming the correlation holds.
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