|DJIA - Daily|
Its been long since we have posted something on Dow Jones Industrial Average which is one of the most tracked Indices in the World. But currently it's at a Make or Break Point.
|DJIA - Hourly|
DJIA has been moving up in a Channel since Oct. 2011 lows & taking support at lower boundary line. Currently it has a strong Support near 12970-13030 which if held DJIA may further Rally to New High to 13750-13800 till Mid Nov. On Daily Chart it's Oversold & on Hourly Chart it is showing a positive RSI Divergence. So a Bounce from current level is very likely, but Traders shall look for Faster Retracement of the Falling Segment as confirmation for Rally towards New High.
On a weekly chart also DJIA has been moving up in a Chanel since March 2009 lows. It's a 42 months long Recovery Cycle which is Maturing. While, most of Analysts, Financial Magazines & Investment Bankers are Calling this as a Long Lasting Bull Market; we still believe that it's just a Bear Market Rally Which is Driven by Easy Credit through QE's. And this Credit Bubble will Burst soon. Therefore, if DJIA manages to hold this Support & Rallies to New High; Investors shall use this Rally to Liquidate their Longs.
We will post more on Long Term Cycle on DJIA & How today's Investor Sentiments Depicts Start of Yet Another Forthcoming Stock Market Crash in our next post.
So lets wait & watch..
Thanks & Regards,