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
Aug 17, 18 05:07 AM
In this lesson we will take a look at the technical developments of OKA Corp's stock price and why it moved the way it did. We will also have a look at what might happen to OKA's stock price.
Aug 16, 18 07:28 AM
In this lesson, we will learn how and why BMY manage to bottom out and start a new uptrend.
Aug 14, 18 08:19 AM
In this lesson we will learn and examine why Pentamaster was able to recover all of its losses to start a new uptrend and achieve new highs.
Aug 13, 18 05:56 AM
The KLCI is currently at resistance territory after a nice big rally. I would consider a sideways trading a possible scenario at the moment.
Aug 13, 18 05:22 AM
In this lesson, we will learn how AAPL's 15 Min stock chart formation help to send the stock higher for 2-3 days to give traders a nice swing trading opportunity.