The major indexes are currently consolidating. This is healthy especially after a nice bull run. As long as Dow Jones stays above the 21000 area, the bull market will continue. Once the old highs in the Dow Jones has been overcome, they will now act as strong support which will keep the stock market from having a drastic fall. There is ample support in the 21080 area and the 21000 area is also a very strong support. Some sideways movement is beneficial to the Dow and the other indexes.
Currently I do not see any big weaknesses in the indexes that would warrant us to be careful of a big fall. The market is healthy and any sideways movement or correction is welcomed as long as the support below holds. Let us take a look at some charts below to aid us in our analysis.
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Here is a summary of what the charts above are telling us:
May 06, 19 06:04 AM
Technical analysis of the US stock market with coverage of futures.
May 06, 19 05:46 AM
Step by step technical analysis of the KLCI Malaysian stock market.
Apr 22, 19 06:55 AM
A technical analysis of the US stock market. I go through the major indices of the US market and see where it is likely to go.
Apr 22, 19 06:47 AM
Technical analysis of the Hang Seng. Learn how the Hong Kong stock market is doing and where it is likely to go.
Apr 22, 19 06:36 AM
Technical outlook for Malaysia's biggest market cap stock.