The Dow Jones notch another record high and since the trend is up, we continue to be bullish on all indexes in the longer term. Smaller time frames like the 60 min and 15 min might have corrections here and there but they are all good and gives us traders an opportunity to long and short stocks. Gold and Oil and also silver are in their own 60 min downtrend and we remain bearish on them until the chart tells us so.
Despite the tech selloffs, the Nasdaq Composite is still in a long term uptrend and whatever falls and crashes are just deemed a correction because of the massive support below and also the MAs are generally still up. Therefore, if the QQQ and Nasdaq keep finding support at their rising 50 MA, we have to remain bullish on techs and the stock market as a whole.
Let's take a look at the charts below.
Charts with the Freestockcharts.com label are courtesy of Freestockcharts.com
Charts with the investing.com logo are courtesy of Investing.com powered by Trading View
Jan 08, 19 05:35 AM
Is the market ready for a fresh new start for 2019 and will this be a recovery and start of a new rally. Let's take a look at the charts.
Dec 03, 18 08:16 AM
With an agreement to pause the trade war, Dow is about to jump 450 points higher, but will this rally sustain and go even higher? Lets take a look at the charts.
Nov 29, 18 07:51 AM
Yesterday we saw a huge big rally 600 ++ points. The question now is this rally sustainable and will we have a beautiful Christmas in the stock market this year. Here are a few things to look out for…
Nov 29, 18 07:35 AM
This sideways movement in the KLCI is really giving investors and traders a headache. What we are experiencing now is a volatility contraction which is often followed by volatility expansion.
Nov 26, 18 08:52 AM
As the techs reach an area of long term support, its going to be a choppy ride as the market decides whether support will hold or the downtrend continues...