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Written by David Hanson
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Sunday, 21 September 2008 15:36 |
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Chaos has spread across Wall Street over the past week with the Bears pounding with every might bringing bloodshed especially to the financial sector. Panic was evident across the markets and the Bulls ran to seek refuge with the Federal Reserve. The emergency rescue plan developed by the U.S. government gave ample reason for the Bulls to charge back on Thursday and Friday. However, the question remains: "Will this rescue plan be the ultimate savior of the U.S. economy?" We have seen several attempts by the U.S. government to prop up the equities market but each move was proven to be short-lived. |
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Written by David Hanson
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Sunday, 14 September 2008 15:11 |
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Bulls failed to rejoice with their 290-point climb in DJIA last Monday after the Bears angrily dumped shares the following day. This was a clear answer that the 11,500 to 11,600 region is the Bear's turf. With Tuesday's fall, the forecast on DJIA is still placed on red, targeting 10,800 for the near term. |
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Written by David Hanson
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Sunday, 07 September 2008 07:40 |
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Bears knew no boundaries as they pounded heavily against the Bulls over the week. Initial and secondary supports were broken with no hesitation. Bulls were all dumbfounded, their jaw dropped to the ground, as they failed to act against the Bears. Our forecast for the bearish rising-wedge formation is taking shape with the way things are going. This will be a very quick move to the expected target. It may just be a matter of 2-3 weeks time. Investors quickly moved in to buy after DJIA hit below 11,000 level last Friday, forcing short sellers to join in. There's no reason for us to call an end to the 300 point drop last Thursday. It is possible that a couple of day's rally could be in place but 11,300 to 11,500 is the best that the Bulls can do after which the Bears may strike again. |
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Written by David Hanson
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Saturday, 23 August 2008 08:29 |
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The Bull's horn shrunk with the Bear pouncing on last Monday to Tuesday and led to what we have been anticipating as a breakdown of the bearish rising-wedge pattern in the DJIA. Support level 11,450 was broken last Tuesday. Mid-week transactions failed to quickly recover. Friday's 197-point climb to go above 11,450 was nothing but a small knee-jerk reaction to a fundamental LEH buy out. Volume transactions were low. We remain skeptical on this 1-day rally and perceive the market to go to sideways to down trend movement in the short-term. |
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Written by David Hanson
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Sunday, 31 August 2008 03:26 |
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Both DJIA and S&P 500 seems to have a unified movement in the short to medium-term with the Bears attacking after every attempt for the Bulls to recover to the previous up trend. Point A for both DJIA and S&P 500 shows the stop of the up trend climb. This week we saw the Bull's attempt to try to jump back in with Point B & C. They failed. |
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Written by David Hanson
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Sunday, 17 August 2008 11:25 |
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As the market has been seesawing upward, we must not forget to step back and take a good look as to how we are generally moving. The 5-week climb we are experiencing will never be forever and it is about time we anticipate and prepare for the Bear's turn. Our previous outlooks have been pretty much accurate and we have seen all three indexes move to the direction we have expected. Here's a detailed analysis for the week: |
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