Dow Jones 2014-10-28

Posted on

Dow Jones: 16830

Equity under drop correction

market faced sell-off pressure 2 weeks ago 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

short-run

market managed in the last few days 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 , done last week

market managed to sustain advance today toward doors of 16800 , where investors weighing central banks actions to spur economic growth

as long as market holding trades below 16820 will expect some drop correction at market

Daily Trend: Down
Weekly Trend: Up

  Support Resistence
Level 1 16650 16820
Level 2 16515 16920
Level 3 16400 17015
Short-Term Strategy: flat
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