Tuesday proved to be a restless day at Wall Street and not a good day for tech. Currently in midday, Dow Jones decreased by 30 points and Nasdaq is down by 11 points. Nasdaq is down probably because AMD, the chip maker, pre-announced its second-quarter results that included weaker-than-expected sale.
Europe's FTSE index which is up 37 points did not seem to light up the US market, which is a rare occasion today.
Today is the 4th day DOW decreased and I think today should probably end in the red. It has been lingering at the support of 12700 now. Let us see if this support provides a bounce for DOW in the next few days.
As we have mentioned in the previous article, it is normal that these few days we feel the after effect of the poor Non farm payroll result. Today the earnings reports of some companies did not help to lift the market.
BUT there is one positive amid the restless market. APPLE has reached our first target of $620. I issued an article saying that Apple run will continue at least to $620, where there will be a resistance. Check out my yesterday article:
http://www.danielloh.com/2012/07/us-stock-tip-apple-strong-run-not.html
Today it actually gapped up to highest point $619.8 before retreating from top to now $613. The thing is I founded a theory called "The Law of Gravity of Price" which can predict the support and resistance of stocks easily even without looking at charts. This is like a set of Fibonacci figures. And $620 is one of them. That is the reason I told everybody to sell first once Apple reach $620.
Check out today's chart.
A lot of times, our students are amazed at how accurately I can predict prices even without looking at charts. This really takes time and skill. I learnt it by staring at prices the whole day ever since I am 13. No kidding, that was when I am forced by my dad to watch the teletext, prices of stocks for him.
As a trader, I also monitor what I called "The Speed of Price Movement". Looking at the speed of price movement and how prices move back and forth, we can often predict if stock price will move up or down. This is something I think you may not read in books or from gurus. Because to me, trading is an ART, not only a Science. There are some things that computers cannot programme for retailers now, like speed.
If you would like to know more about the ART of TRADING, do come for our seminar to find out more.
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17 July (Tue) English Session Session
<<Top 5 Reasons to be Bullish This 2nd Half Of The Year>>
- Are turnarounds of the Dow Jones Industrial Average and the Straits Times Index happening in July?
You shall learn:
1) Reasons for being bullish this 2nd half of the year (5 reasons)
2) Outlook for the Singapore and US markets
3) How to be financially Independent in Trading
4) How to earn rental income from the stock market every month
Date: 17 July (Tue) English Session & 18 July (Wed) Chinese Session
Time: 7pm -10pm
#07-02 S(069541),
Tanjong Pagar MRT exit G, walk straight 80m, opp traffic light
Speaker: Daniel Loh (Raffles Business International Director, Mr Hu Li Yang partner, Derivatives Specialist)
To register pls click here
or SMS <Name><Email><HP><Date><Number of seats> to 93676623
