September Market Rally? or September Market Correction?
*September's history is known as a month where investors will lose money in the stock market. (In fact NASDAQ index has rallied 6.2%, S&P500 rallied 4.7%)
*As recession ends, investors in the stock market are looking to recovery path??*
*This week the U.S stock indexes finally reached new highs as Dow Jones Industrial Average closed at 9820points. Next Target? Reaching 10,000 points?
*Next week, investors will be waiting for the news on U.S August home sales report, FED Reserve to release its statement on monetary policy, and the numbers on weekly employment data. STILL to be concern is the stock market VOLUME.
*Technically Stock Markets seems to have a minor market correction next week.
*But if "News" were to be better than expected (positive news), stock markets will continue to rally.
*But we're expecting for a minor market correction next week in order to have another strong rally in the near future.
DJIA Daily Chart (Trend line analysis)
*DJIA break year high at 9854points. Can it rally to its 10,000points??
*Focus on market volume as its needed in order for DJIA to rally.
*DJIA support at 9622points.
*Both MACD and RSI are BULLISH at the moment.
DJIA Weekly Chart (EMA100days)
*Weekly Chart analysis is showing DJIA at its EMA100days resistant. Can DJIA break it?
*Both Momentum and MACD in DJIA Weekly Chart are still BULLISH.
ShangHai Daily Chart (Trend Line Analysis)
*ShangHai this week closed below its 3000 points resistant. Can ShangHai close above 3000points next week?
*However ShangHai MACD and Momentum are both showing a Bearish signal.
ShangHai Weekly Chart (Bollinger Band)
*ShangHai Weekly Chart analysis shows that ShangHai index is at its resistant at Bollinger Band Center Band. Can ShangHai break above this 3000points resistant next week?
*Weekly MACD is still in the process of market correction.
*Momentum is still Bearish at the moment below '0'.
Straits Times Daily Chart (Trend Line Analysis)
*Singapore index is forming a Bullish Flag with Triple Resistants now. Can Singapore index break above its Triple Resistants next week? Still Volume is needed in order to rally.
*Straits Times index MACD is showing uncertainty in the market at the moment.
*However RSI indicator is still bullish.
Straits Times Weekly Chart (Bollinger Band)
*Using weekly chart to know your entry point.
*Singapore index is currently at its Bollinger Band Center band support. As we can see the BB is contracting, can Straits Times index rally next week?
*However both Straits Times index MACD and Momentum are weak at the moment.
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