Less than 1 month ago, I believe bearish market will hit both DJI, S&P and WTI which I shared in my previous post. The chart clearly show that there is a pull back after my post on 20 dec 2015 to test the support turn resistance diagonal line. I did shorted some at the point in NAS100 but I took my profit too early. Didn't expect the falling was so sharp and failed to find the re-entry point.
So, what can we expect in the coming second week of 2016? Lets go into the charting
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| Weekly DJI. Support in the yellow line |
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| Monthly WTI. The outlook remain as the post on 20 Dec 2015 |
Will be sharing both DJI & WTI chart this week. My outlook for WTI remain intact since my last post. I believe it will reach $30 soon and perhaps break the $30 with any strong negative news.
I'm looking for DJI to hit whole figure number 16k before reaching the august 2015 low.
Overall: Why does US market react so badly even thou the Non-Farm payroll on last Friday came out to have a strong figure? Simple reason = Market is irrational. At the current stage, good news = bad news.
When strong figure reported last Friday, people worries that yellen aunty will continue to rate hike in the coming month. This figure supported the multiple rate hike "rumor" in year 2016 since the first rate hike on Dec 2015. A bearish market won't be that bad after all. People who wish to start investing can finally get a cheaper deal in the market. Invest carefully.
You are remind to trade base on your own risk. Plan and Trade well :)
