Saturday, March 20, 2010

Dow Update

DOW JONES INDUS. AVG10,741.98-37.19-0.35%16:30
S&P 500 INDEX1,159.90-5.93-0.51%03/19
NASDAQ COMPOSITE INDEX2,374.41-16.87-0.71%03/19
S&P/TSX COMPOSITE INDEX11,947.98-92.03-0.76%03/19

Here you can see Dow has seen a steep fall of 100 points in one session ...can see the higher candle at 10800 and lower below 10700 in ever 40 points were recovered due to short coverings in last 30 minutes it is a prior warning to all of you to cut your long positions and pocket your returns because we too trading at highly overbought zone since 5 trading sessions . So any moment you may see a heavy sell off and if you will be having funds with you then you  can buy again at lower levels ...and it is a quite old advice that " Please always enter in oversold zone and never stay long in overbought zone so it is mere an advice based on technical indicators who never went wrong so for ....

Dow daily chart 6 month ...Typical dark doji  
RBI hikes rates by 25 bps; home, auto loan rates may go up...
While the RBI communiqué was issued well after market hours in India, US stocks slipped soon after the announcement as traders felt it was a signal that monetary authorities would be quick in withdrawing the post-Lehman stimulus.
Nifty Chart 

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