Thursday, 26 January 2012
Dow Jones Resistance at 12750 as predicted 3 weeks back!
Dow Jones this month has risen from 12200 to 12760, the highest point in January, 3 days back. Upon reaching 12750, it starts its 3 days drop. So far everything has gone according to what we have mentioned. A few weeks back we stated Dow Jones will experience a strong resistance at 12700 and STI at 2900.
Pls check our website at www.danielloh.com for the earlier article. Do recommend your friends to this informative website.
Even if Dow Jones break this 12750 resistance, we need to be extremely cautious at 12900, which is the highest point reached since the Bull run starts 2 years back. This is what Asia Leading Stock Guru, Mr Hu Li Yang mentioned as the 2 times pressure resistance (卖压区). Not easy to break if you think so. Morever, judging from our Market Sentiment indicator, the market is near its overbought region, keep your eyes on NYSE market sentiment!
Of course, I encourage all who are short term investors to profit take by this Friday which is what the professional traders will be doing. Next week on Tuesday 31st January 9.45am Eastern time, if Chicago PMI doesn't meet expectation, it might be a day of shorting for the professionals.
So let us not take risk. As traders, we need to be snipers who wait patiently for the right entry point! Now is time to profit take first. But of course, you might ask if February has any chance to be a good month also? What I can say now is wait until next weekend to judge. All I can say is any miss on important reports can be a trigger for the shorts.
By the way I have been enjoying my holidays still. Will be back 2moro to office.
Our class on Mr Hu Li Yang teachings is FULL this Friday. Pls do not register anymore. Thank you for your support. We would hold other classes again! Keep a lookout on our website everyday. We would post you Free seminars, Good Articles by Gurus like Mr Hu Li Yang, Stock Tips on Singapore and US stocks, Forex Tips (1 trade per day) soon.... Pls check our website everyday!
Have a Great Chinese New Year & Huat ah!!!
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