Saturday, January 10, 2009

Dow Jones Industrial Average At Critical Points ?

Today I'm on my way back from Thailand. Now still in Suvarnambhumi Airport. Waiting for my flight back to Kuala Lumpur.

Yesterday the Dow Jones Industrial Average (DJIA) closed down -143.28 points. According to charts reading, an indicators call Parabolic SAR shows that if Monday the Dow Jones still go down, it would be a bit difficult for the DJIA to move up.

A check on the regional market shows that Hang Seng, Singapore Straits Times are moving near to a week signal with Nikkei 225 already touches the turning point - the Parabolic SAR point.

What did you means by Parabolic SAR? Parabolic SAR is an indicator to determine whether the market is heading for consolidation or moving upwards or downwards. If the Parabolic stays at below then the market will likely to move up or consolidate but if the Parabolic appears on the top then the market is going down or consolidate.

Actually is an indicator to determine whether it was a right time to be in the market or not. Basically any selling that still going on in Wall Street's might not be a good indicator for the world financial market. I was hoping that because of the 20th January 2009, President-elect Barack Obama will be taking over as a new president from currently U.S. President George.W.Bush, the U.S. financial market momemtum will sustain at present level.

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