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Web thoughts-denzuko1.blogspot.com

My Charting Blog

It is interesting that I start off this Blog when the Singapore Stock Market is heading south. However, this makes it more interesting for me to write on as the market turned volatile. My interest is Technical Analysis, TA for short. I love to look at charts and predicting where they are heading. This blog is or me to record my thoughts on the market. The articles on this blog are based solely on my personal opinion on the charts that I read and readers should not take it as absolute.

5/05/2010

Head and Shoulder on DJIA

I am not going to show the DJIA weekly chart again (Just used it last week), instead I will use the Daily Chart.


Fig 1 DJIA Daily Chart
Base on the daiy chart, I can see a weak formation of a head and shoulder with objective of 10,653. DJIA has just broken the neck line yesterday and as long as it stays below 10,958, the formation should be prudent.Support is seen at 10,827.

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