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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.

7/28/2010

Dow on 3 white soldiers?

I have a brief look at Dow, just like STI I am getting a little confused by its divergences. On one hand, Dow has 3 white bars moving up, this is a three white soldiers with indication of bullish tendency. On the other hand, the indicators are peaking off. RSI is more prominent with signs of momentum slow down.


Fig 1 Dow Daily Chart

Another sign comes from the Gann Grid lines which will be resisting further advances. There is a high chance that Dow is correcting today.

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