“The NASDAQ continues to outperform at the moment and yesterdays action saw a new higher peak. So this is looking good for the bounce to continue but the big test is up at 1288 and this will not be an easy level to...
Read More“The GBP/Euro saw a vicious spike down on Friday touching a low of 1.2194 term support. The bounce from here was just as sharp and although we are softer in early trade again today we do need to be cautious. Going up...
Read More“Since breaking the Dow theory of higher peaks and troughs we have continued to slide and bar one decent day this week the Bulls have been absent from the market. We have a Trend Resistance line that comes in at 831.75 for...
Read MoreTwo High Wave Candlesat the end of last week warned that the selling may well be over. This gave the Bulls the impetus to push on hard yesterday and we are a touch firmer in early trade today. We are now bang in the middle of...
Read MoreSince last weeks Doji failure at 50.25 area we have been on a steady decline. We are no longer making higher peaks and troughs (See Charles Dow) although most dip buyers would only exit with a print below 32.48. If this happens...
Read More“We took a look down yesterday not quite making Trend Support which has moved up to 4358 for today’s session. This is encouraging so at the moment it does still look like dip buying is the way to go. If we pushed on...
Read MoreWe were concerned at the way the Dow appeared to be stalling especially after breaching 9025. These concerns appear justified as we saw the Bears back in the frame yesterday. Its not all doom and gloom though as we are basically...
Read MoreThe bounce we have been witnessing in the Dow has run out of steam and we are basically travelling sideways between our two key levels. These are 9025 to the upside and 8125 in the other direction. We are no longer making higher...
Read More“All things considered it wasn’t too bade a show yesterday even though we ended with a splash of red. We are still in a short term bounce mode so we keep watching that the Dow Theory is holding true. For this to be...
Read MoreWe breached Trend Resistance yesterday and pushed on towards our 919.25 level just falling short. Early trade today has seen us give back some of these gains and we shall now be looking for the old resistance line to act as...
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