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Friday, August 10, 2007

Dow Jone Index at 10/08/2008

Currently I have noticed this 3 formation on Dow Jones. The 3 circles that are in blue are indicated as a bull trap. I have learnt from my friend that the break out of a triple top means a bull trap... this have happened 3 times. Furthermore, during the last bull cycle, it is always the strongest. I believed the end of the bull cycle is coming to an end. Maybe next yr to the following yr. Or worst is this yr. But taking into consideration that next year there will be an election at the US and the olympics 2008, it should be able to hold till at least after the election or the olympics.

This round, I think it will form another bull trap. since today is went down by 200 point at 3am singapore time. I think friday will have another down day and next week we may recover. The support is at 13150 region. We will be able to see it reach this level and rebounces back.

All these views are just my personal views, they maybe correct and maybe wrong. so do your own research too. If u have comments u can leave them down too. :)

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