July 3, 2011

DOW JONES Weekend Update

  • Weekly charts shows Bullish medium term out look.
  • But the Volume and overbought stochastic is showing some hope for bears only if price confirms by showing some negative price action. 
  • Price is expected to hit the upper Bollinger band in weekly time frame soon. A minor hurdle at around 12658 if price sustains above this level price will hit the upper Bollinger band.

1 comment:

  1. This was just too tasty, I had to post.

    Cable pinged off an important, and clearly defined Bernoulli channel.

    This should drive down ES, and EURO is also following down, which has been the 8000 lb deception chimpanzee in the room--i.e. GBP and Euro have been manipulated opposite each other last week, very odd.