High & Low

A nice rebounce day for the market, as DOW is moving out from CCI’s -100 territory and MACD is picking up. Everyone is talking about DOW’s golden cross, well, too many people noticed that, so let’s ignore it for now. Today is only a rebounce because it’s up from the support level (yellow area) and the Vol is still kinda low consider it’s a big step north in the index. Still under MA200 and still not a new high yet, so hold on with your long positions for now, I will say, good days might still keep coming. Don’t chase into the market tho.. this kind of move is kinda risky under current market environment.

Believe or not, I like NAZ better than Dow, altho both of them are considered rebounce to me.. NAZ does look like having a new channel established as I mentioned earlier, which gives me more reason to hold on with my remaining 4Q calls, also NAZ’s golden cross already passed (nobody mentioned that, right?), and now it looks like NAZ got a support not only by the previous gap, but also the MA50 line as well. Be aware of the Vol tho.. it’s higher, but not high enough. Some money are still in the vacation mode, and we don’t know when the big sharks come back, which direction will they choose. so far.. just hang on there.

Again, ND is still there, so don’t be too aggressive.

This entry was posted on Thursday, June 25th, 2009 at 11:34 pm and is filed under 美帝 :: US Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.