The Dow has finally breached the major support of 11700-800 zone. Now, the market will continue to head down amidst rebounds along the way. Technically, there is no bottom in sight. And, I don’t like to make conjectural prediction on the long-term market trend, though this is a start for a prolonged downturn in the months to [...]

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We had a very volatile trading day on Wednesday. The Dow went up at the opening bell but lost its steam a couple hours later. After the Fed’s announcement, the index shot up to over 100 points, only to see it came back barely breaking even for the day. On the outset, I personally did [...]

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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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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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The market on Monday was a non-event. The markets are consolidating for a continuation of the current trend – which is bearish. The SPX chart is particularly more revealing than other major index charts. It has formed a Doji. This means investors are re-assessing their portfolios to decide for the next investment move. As the [...]

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