Strong economic data, coupled with upbeat earnings. With the on going reporting season, coupled with the better-than-expected jobs data, the Dow ended on a bullish tone. Nevertheless, the Dow's outlook remains cautious amid few economic data such as US core CPI, which the Fed will monitor its data closely for further interest rates decision and crude oil inventories that will be released this week.
Mid-to-long term uptrend remains intact. The Dow futures trended positively over the past two weeks and surged above the 22,000 level. The MACD Indicator continued to hover above zero level - suggesting that the mid-to-long term is uptrend.
Short term indicator may suggest retracement activities. The 30-mins chart noted some selling pressure along the 22,030 level as the technical indicators such as Stochastics Indicator were hooking downwards after showing overbought signals. Resistance will be pegged along 22,036 and 22,200, while the support will be set along 21,850 and 21,750.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....