November 1, 2010

DOW JONES Weekend update

DOW JONES WEEKLY CHART
DOW JONES HOUR CHART
  • Dow Jones Weekly and hour chart.
  • Weekly chart shows the price at 11250 region with weekly RSI.
  • Last time Dow went to 11250 levels and came down from this level, at that time weekly RSI came down from above 70%. This time too at 11250 area weekly RSI has started to decline. 
  • If price starts to correct weekly RSI will give a clear sell. But this scenario will be invalid if dow gives a good breakout above 11250 and then the overbought RSI levels will stay overbought for sometime.
  • The hour chart has been trading in a triangle. Price is near the apex of the pattern. Breakout from this pattern will give us a clue to which side Dow is going to go in the short term.
  • BAIDU WEEKEND UPDATE
  • NFLX WEEKEND UPDATE

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