Thursday, February 4, 2010

Dow Jones Industrial Average Still Not In A Comfortable Zone Yet? Sentiment Still Blur ?

Looking at the Malaysian share market right now, it is obvious that our current share market is heading for a correction. Whether this correction would be a small or a big one, no one will know and how long the correction will going to last?

Looking at the chart right now, FBM-KLCI didn't reflect as an important role to determine where our share market is heading to? Current market suggested that we might be in consolidation mood as the Chinese New Year Celebration is getting nearer and nearer with the Dow Jones Industrial still play an important role to determine where the world equities markets trend are heading to? Right now 1,255 points should pose as a strong support for the FBM-KLCI. If this level cannot hold, then we would face another new downtrend.

Can a rally occur after the Chinese New Year celebration? It will depend on how the world equities sentiment performance but it won't be easy to make some income as the share market behavior right now are totally different from last time. Some of the counters don't really move at all when the FBM-KLCI moves higher.

Looking at the current sentiment for the Dow Jones Industrial Average, we are still not staying inside the comfortable zone yet. At these moments, anything can happen. The DJIA must hold very well above 10,100 points. If this level been taken out, it would be very bad for the whole sentiment. In order for the DJIA to stay in a positive momentum, the Dow Jones should move higher and higher and create a new high or else the 10,100 points won't hold any longer.

1 comment:

Blogger said...

eToro is the best forex trading platform for beginning and professional traders.