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.
Jul 30, 21 09:54 AM
Take a look at the various charts of the stock market for the month of July. Interesting to note that the uptrend is still intact.
Mar 23, 21 08:25 AM
This week let us take a look at the SPX and TSLA. See what we can learn from their charts.
Mar 19, 21 05:24 AM
In this week we will have a look at Bitcoin, ETN and MAT, SPX and QQQ and see what we can learn from its chart.
Mar 09, 21 08:33 AM
In this week's lesson, let's take a look at bitcoin and makita.
Mar 03, 21 09:48 AM
In this week we will take a look at BRX and KIM and see what we can learn from the charts.