The Dow and the general markets are still on the brink of breaking a daily downtrend line. It might also be forming a mini triangle in the daily charts as the markets fight it out between the bulls and the bears.
Dow is still trying to decide where it wants to go. It is surprising how resilient Dow is amidst the trade wars and so many tensions.
Right now, the support area and the 200 MA will be an important focus area. I believe that as long as Dow stays above the 200 MA and also the support area, then the bias will be for a move higher for the Dow. If Dow breaks below this area, then we will have more selling.
Notice how Dow is also forming a mini triangle.
It really is trying to fight it out between the bulls and the bears. A break above the mini triangle as well as the down trend line will be good for the bulls.
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.
Aug 07, 18 08:10 AM
In this lesson, we will investigate and learn why the S&P 500 had a nice rally in July 2018 after a correction in June 2018. Learn how the charts and technicals hinted of a bullish reversal.