Tuesday, January 13, 2009

Dow Jones Industrial Average Not Doing Well.

Dow Jones Industrial Average already entering the critical points. To my mistake I didn't notice that actually last Friday DJIA already touches the Parabolic SAR points (moving down or consolidation move). The signal already appear but I can't see it because of the Double Top line that I draw mistakenly cover the signal.

DJIA yesterday down -125.21 points to close at 8,473.97 points. The DJIA already went down for 4 days, a slightly rebound might occur anytime. That also including the Hang Seng Index, Nikkei 225 and Singapore Straits Times which we saw they also went down for a few trading days until now.

Crude Oil prices stay at below USD 40 per barrel. This is another indication that this is not a good sign for the share market (oil and gas counters). Right at this moment we need to be cautious. Trade with a careful analysis. We might seeing some rotational play after this run up. At this moment I will re-examine the whole situation before making any new portfolio (buying) into the Malaysian share market or I might not create any new portfolio at all.

1 comment:

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