Dow Jones Industrial Average today show some sign of recovering. Up +200.72 point to close at 8,375.45 points. Base on the charts the most important indicators for short term emerge. Parabolic SAR appears at bottom for the first time since the last Parabolic SAR appears on top on 09.01.2009.
Accordingly it should be a call to buy for the DJIA. How about the regional stock market around the world especially the Hang Seng Index, Nikkei 225, FTSE and Singapore Straits Times.
Accordingly it should be a call to buy for the DJIA. How about the regional stock market around the world especially the Hang Seng Index, Nikkei 225, FTSE and Singapore Straits Times. If the indicators show the same sign as the DJIA then I would call it a buy for this market but we need to a few days to confirm that the trend have change.
Sometimes in order to wait for the confirmation, we would have miss the bandwagon again but to be sure that we would not be riding up to the hill and all the sudden falls into black hole where by we can't even make some gains instead we have to bear more losses. A careful approach is needed at this moment as we don't want to be catch alive and throw like a dead fish.
This week and next week will be a crucial week to look into if the DJIA still have the capabilities to move higher and withhold it strongest support of 8,000 points. Right at this moment some of the Malaysian share prices are still trading at lows. We still can consider it is cheap but again if this rally really appears it would be another short terms plays. Time to accumulate on weakness ?
Sometimes in order to wait for the confirmation, we would have miss the bandwagon again but to be sure that we would not be riding up to the hill and all the sudden falls into black hole where by we can't even make some gains instead we have to bear more losses. A careful approach is needed at this moment as we don't want to be catch alive and throw like a dead fish.
This week and next week will be a crucial week to look into if the DJIA still have the capabilities to move higher and withhold it strongest support of 8,000 points. Right at this moment some of the Malaysian share prices are still trading at lows. We still can consider it is cheap but again if this rally really appears it would be another short terms plays. Time to accumulate on weakness ?
At this moment, monitoring the movement will be the right way to find out whether the Malaysian share prices still have hope to move forward. Anything can happen these few trading days, just stay and look out for opportunity.
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