Sunday, May 18, 2008

Technicals Analysis for Dowjones Index for 19-may,pls find it useful,
TRIN:.Daily:1.3..(OverSold..its bearish sign)

Trend Indicators:
Moving Averages::Bearish,RSI::Bullish,ADX::Bullish..(but overheated mkt)

OVERALL:since there are more bearish indicators than bullish... i wud presume..dow jones wud have some sell off or profit-booking on monday.

Other indicators for Dowjones::
Rising Wedge,bearish harami cross and bearish Wolfe wave in Dow jones,next wat???

Bearish harami cross features:A day of uncertainty after a large bullish move suggests bulls may have lost control of the market.Traders have to watch for bearish moves in the following days.

The rising wedge is a bearish(reversal) pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows.
As a reversal pattern, the rising wedge will slope up and with the prevailing trend.Regardless of the type (reversal or continuation), rising wedges are bearish.
The rising wedge usually forms over a 3-6 month period and can mark an intermediate or long-term trend reversal.
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