Dow tested 10,000 for the 2nd night in a row… Any worry?
Good Morning,
Things are getting hotter as traders are feeling the strain and near to giving up as the Dow re-test the 10,000 mark once again.
Only last night was even worse as it hit a low of 9943, breaking a lower low formation on the daily chart. Most commonly indicators like MACD, Stochastic, RSI, Bollinger Bands, Moving Averages etc… are calling for the Big Sell Signal… and many traders are also counting the timeline, stars (Astrology) and fibonnaci and it seem we are heading for the inevitable doomsday…
But again, I prefer to view things objectively and being a Singaporean, I know how KaiSu we can be if things just doesn’t turn out well.. (Kindly take note; I am not speaking for everyone so no offence taken please) so if the financial world is coming to an end.. i wonder why STI is still holding so firmly around 2920 level?
So my train of thoughts is simple.. if STI fail to maintain above 2920, then it is a cause for worry and concern and one may want to take a break from the market until things settle down… if not… I am thinking to see if the market is worthy to bargain (not meant for contra) and stick with it for a short while until things truly changes.
Disclaimer applied
Kelvin Han
V3Go System Originator
Read more: Did You Trade