The Dow Jones Industrials fell -0.50% and the Dow Jones Transports fell -1.5%. The non-confirmation continues and weakness is slowly but surely taking hold. Type-A Bearish Divergence remains firmly in place. There is simply no reason that this market should travel higher in the near term. At best it may consolidate in a sideways pattern. At worst we’ll see a sharp reversal of form. I have hedged my ASX holdings and feel comfortable with that scenario. I will not be adding any new positions at this juncture. Stops should be tightened up and traders are advised to await the expected pullback before initiating new positions or at least await until daily closes start firming up.
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Latest Share Trading Articles
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- The Hidden Strengths of Volume Analysis (part 1) September 19, 2010The power of correct volume analysis cannot be overlooked. Unfortunately the ability to read volume correctly is not readily discussed or freely available. Off-the-cuff remarks such as, “increased volume on advances is bullish and increased volume on declines is bearish” are bantered around but that’s as far as it goes. The correct use and application [...]T […]
- The Psychology of Trading September 19, 2010The most important part of investing and trading is psychology. Investing is a constant struggle where the battleground is not the market or advice given but comes from within you. You will face stress over losses, you will be in turmoil in deciding to enter or exit a position and it will place many demands [...]The Psychology of Trading is a post from: Shar […]
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Phone: +617 5473 5743
Suite 1/ 21 Sleepy hollow Drive
Noosa Heads QLD 4567
AFSL 288200
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