Saturday, April 18, 2009

Dow Jones Industrial Average AT Critical Points?

Well yesterday I started to calculate how much my profit after this rally. I have missed this rally in the first place but I'm trying my best to win some and I have managed to gain about 10K. Although this is not much but I'm trying my best not to miss the second bandwagon. I'm still holding some of the shares but not much.

I will be monitoring the situation tightly as I don't want to miss it again but sometimes it is quite hard to predict where is the direction of this share market will be heading to. Many analysts have made an assumption that the world equity market is long over due for correction. When will the correction take place and when will they happen?

Dow Jones Industrial Average (DJIA) has managed to close with gains for six weeks in a row. No doubt the index still stays above 8,000 points, that didn't means that the index cannot go down. The DJIA performance lately shows that they are losing their strength. They have tried so many times to penetrate their resistance level of 8,200 points but they can't. If they managed to break that strong level then we might be seeing another new record high.

Lately I have sign up for a course (RM 4,188.00) that will teach me to enhance my skill in terms of using and reading all kinds of tools that will help me to sharpen my skill in calculating the movement of charts. All the while my skill in monitoring the share market movement and reading some of the indicators was at my own study using some of the technical analysis book to help me and guide my trading in the share market. I think time has arrived for me that I need some guru's to teach me how to use the tools perfectly.

Next week will be a crucial week for DJIA. If the index still hovering around that point then index must break the 8,200 points or else the DJIA might be eyeing for 7,500 points. For me, I would prefer the DJIA to go down in order to have a pure correction before any accumulation can be done. This will even help us to be well prepare for future smooth and nice trading when the share market start to climb up.

No comments: