Tonight performance is good. at least it never drop more. We need to see it break the downtrend channel before doing anything. After the break of the channel, then it must be trading above the 50MA before 18 of Sept. My bet is by 14 which is a Friday, there will be a selldown and everyone will be waiting sideline to see what is the outcome for the FED meeting, which everyone is waiting for. I am very sick of looking at this market now.
My guess it will be trading sideways close to the top of the channel, till bad news come out then it will drop and chances of touching the recent low is very high. Nasdaq and S&P500 are having the same trend.
If we are using monthly chart, we see a very bearish signal. 3 black crow has formed!!!
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Thursday, August 30, 2007
Dow 28/08/07
Posted by
Unknown
at
3:27 AM
Labels: TA of Market Indices
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