Wednesday, July 7, 2010

Dow Jones Industrial Average Forming Head And Shoulder ???

Looking at the Malaysian share market performance right now, it seems that we are moving side way with no new interesting news occur. Basically they always move this way during the on going world cup fewer. To judge how the overall Malaysian share market performance, we have to study the U.S equity market first.

If we take a look on the Dow Jones Industrial Average (DJIA) movement at this moment, things don't look quite positive if we study their chart.

Since the previous high of 11,200 points (set in end of April), the DJIA is experiencing some downturn and yesterday the index climb higher after down for few days already. Can we consider if there is some opportunity ahead in the world equities markets? At these moments I'm still doubt about it whether there is still an opportunity lying ahead. We just have to watch how the DJIA is going to fare these few days.

Looking at the DJIA chart, can you find any HEAD and SHOULDER in the making ????? I don't know whether they are forming the Head and Shoulder pattern. But if the formation was really a Head and Shoulder then it would be a very bad indicator for the overall world equities markets. We just have to be EXTRA careful on this matter. Head and Shoulder formation on the top is very very BEARISH indicator !!!

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