Wednesday, 4 February 2015

DOW indeed bounce back from 17000!

Dear Friends,

A few days back, we posted an article titled,

"DOW recovery during day shows it just can't drop much! Don't worry about STI or KLCI!"


In that article, we stated our view of DOW Jones. We said that it can't drop much, and most likely it will have a strong support at 17000.

Indeed, yesterday DOW almost touched the 17000 mark during intraday. 

In yesterday session, it drops to 17037 before it rebounds.

Check out the chart of DOW yesterday and today:

Price of DOW is 17515 now, with a rise of 150 points intraday today.

We think good about the market now. If Dow ever drop back near 17000 again, I suggest a pick up at that point. 16500-17000 is a good accumulation zone. 

With Apple i-watch sales coming up in April, we seriously think that DOW may not drop much. There is quite some excitement in the market still. Unless Janet Yellen drop a bomb on the market by announcing an interest rate rise soon.

If indeed Crude rebound these few days, there is a good chance you might see an all time high price again before April.

Rgds
Daniel

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