Friday, October 30, 2009

20091030 1630 Dow Jones EOD Daily Chart Study !



Wow ! Uncle Sam has woke up! With the positive GDP growth report release yesterday that rebounded 3.5% in the third quarter brings an ends to the United State 18 months long economy recession. The positive news bring back hope and confident to Wall Street resulted the Dow to closed 199.89 points higher at 9962.58 level forming white range bar candle. Daily chart wise, the white candle break through the mid Bollinger band and closed above it = there is still hope for the bull to stay in the market. Bollinger band width continue to squeeze tighter = market will be trading side way range bound. MACD Histrogram stop and reversed upward = buyer coming back with a good fight.      

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