I was expecting a small but further drop from Friday’s close. It had not happened. The Monday’s trading was basically flat the whole day. At the end, it was a Doji formed on the chart. At this time, we are very close to a major support area as indicated in the chart below. A rebound [...]

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That was fast. The bears won the day! The Dow had almost reached the support area of 11800. We may see another day of loss by about 50-100 points for Monday before minor rebound. This is the time to close all of your open positions, if any. What I want to see is the break [...]

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Alright, the Dow and overall equity markets had reached an indecision point on Thursday. It was a volatile trading session as shown on the intra-day charts, crisscrossing between the gain and loss areas throughout the day. This indicates that the market players are confused over the direction of the markets for the next few days. [...]

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We have another down market. This time the Dow even broke its mini-support. The Dow and the S&P are now ready for a new low. I am specifically looking for a target of 11800 for the Dow and 1310 for the S&P. When the Dow hits the 11800 support, it would be a critical moment [...]

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The Dow dropped 108 points on Tuesday, almost erasing the strong gain two trading days ago. Although there is a bias for further drop for Wednesday, the volume did give sufficient indication for that. I would be anxious to see if it can break the mini-support at 12100 level (1330 for SPX). This will be [...]

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