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As mentioned in the last posting, if Dow goes above 11,200 then it is a bullish sign. Below 11,070 means that Dow wants to be bearish and is trending downwards.
Today, the market just chopped between these levels. It almost reached 11,200 and closed at
11,125.
You can see the conflict here. On one hand, the market is way too oversold and wants to go up. But, it faces bearish pressure which did not allow it to move up. So, the market just chopped in a flat boring range.
No stock picks today. I would prefer to wait for the market to show its hand before buying any new stocks.
If you wish to view the Dow Jones Industrial Average in DreamTai, the ticker symbol is ^DJI
Disclaimer: For education/entertainment purpose only. Invest at your own Risk
