- 26
- Sep
This Stock Market Hours Report is brought to you by Jason Ng, Founder, Master ‘O’ Equity
The Dow continued to trade sideways for a fifth straight day after the Fed release day. In fact, the Dow seemed to be inclined to downside today as it made a new 5 days low. This action is hardly surprising as the Dow faces the daunting all new high resistance level at 14000 right when it is in short term overbought position. Even after today’s action, the Dow remains short term overbought. It seems like the only way to digest that overbought sentiment is for the Dow to pullback a little in order to attract investors who missed entered before the Fed release day (which was a dangerous move by the way).
The Dow continued to trade sideways yesterday and it does seem like the Fed rally is starting to lose energy in the face of the all time high resistance level. The Star Trading System continue to be non-committal today.
Thought For The Day : “Rules Are The Chains Within Which One’s Emotions Must Be Contained”
