Dow Jones 2014-10-23

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Dow Jones: 16500

Equity under drop correction

market faced sell-off pressure last week after report from U.S show contraction over retail Sales and PPI which spark concerns over health for the biggest economy in globe

market tested 15765 support zone , where market managed to rebound fast from it as market tumbling in the over sold zone

so far Equity market managed to obtain drop correction with less than 10% which indicating the sustain of Long-Run uptrend wave

market managed today to fell for drop correction toward 16380 , where market still holding above support of 16350 , as long as market holding trades above 16350 the uptrend will sustain for farther advance above 16600 as we advised yesterday

below 16350 expect farther drop toward 16160-90 zone

Daily Trend: Down
Weekly Trend: Up

  Support Resistence
Level 1 16350 16600
Level 2 16205 16680
Level 3 16100-30 16780
Short-Term Strategy: flat


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