David Wilkinson
Guest
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 Posted:
Sat Oct 15, 2005 4:01 pm Post subject:
Re: Markets about to rally |
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Aliham wrote:
| Quote: | Dow Jones has stochastics in a bullish position, while MACD is getting
close to a bullish cross. Dow Jones is set to move higher this week as
it has hit the bottom of the trading channel.
http://www.moneydreamers.com/DowJones_Chart.html
You are anticipating what MACD will do. It is some way from a cross and |
it may not get there.
On a longer term basis the Dow is below its 50 and 200 day MAs and the
50MA below the 200MA, which are bearish signs.
With the more subjective trend lines you could draw an upward sloping
triangle from April to late Sep, and it has broken down out of that. A
likely target from this would be about 9,900.
| Quote: | NASDAQ has stochastics in a bullish position, and MACD is about to turn
around. NASDAQ should be able to move higher this week as it has hit
the bottom of the trading channel.
http://www.moneydreamers.com/Nasdaq.html
Again you are anticipating. "MACD may be turning around" you say, but it |
might not.
The MA position is slightly healthier than for the Dow and the Nasdaq is
at least above the 200MA if below the 50MA.
On trends it depends where you draw the trading channel. There has been
support at about 1560 since August and it has broken below that. If you
draw a 1560 to 1620 trading range since July it is likely to go down to
at least 1500, where there is support from June values. |
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