Friday, August 24, 2012

Back to Up Trend After 3-day Pull Back

The market resumes its uptrend after a recent 3-day pull back. The bull looks much stronger and more powerful than the bear.

Today is the first day market ends up with a green candle after the pull back, it might be a good chance for a swing trade on the long side if you are a good trader. Investor sentiment is not quite bullish, which suggests that we are not yet at a point that we should be scared about a


sizable correction. All of the 3 indices successfully defend their 30 day moving average. The chart shows the price is near the upper line of the Bollinger Band, which gives a indication that the price will more likely to maintain its up trend for a while. Go Long for at least another 300-500 in Dow Jones.

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