Saturday, April 9, 2016

US Markets End Iffy - Should We Remain Undecided?

Dow Jones Industrial Average (DJIA) could not climb the wall of worry. This wall is erected around 17700 in Dow. In my last post I had mentioned how Dow needs to climb over 17700 wall to be able to reach 18000. In last trading session Dow made a high of 17695 and then dropped down to close at 17577.

Scenario No 3 as given in my last post has happened in trade. So we have to wait for another trading day to get a sense of which direction Dow is headed. More importantly, we have to find out when we need to exit our long positions.

All that has been discussed in my last post so just keep all conditions in mind. As of now there being no clear signal, we need to hold on to our long positions.