October 12, 2013

  • Dow Jones managed a bounce from the channel support line and 200 Day SMA. Daily MACD is getting ready for a bullish signal which should take this up move towards channel resistance line shown in Reliance. Price is testing 20 Day SMA now. Closing above 20 SMA Next Week should extend this up move towards channel top.


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore