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Thursday, February 19, 2009

Dow Theory Reconfirmation?

Experts say if Dow close below 7552.29, then we will have a Dow Theory Reconfirmation of Primary Bear Market Trend.

Mr Dow refused to close below 7552.29 for the past 2 days. Maybe “PPT” was buying and supporting the market, so they say.

Will it close below 7552.29 tonight?

One market timing expert had issued some buy calls this morning, which includes Dow and S&P 500. He also issued sell calls, which includes Gold. He uses his own proprietary system which he claims can detect market turns. Eg. if the index hit his indicator and rebound, then his buy call is valid. If the index hit his indicator and drop, then his sell call is valid. He seems very confident that his system works most of the time. Well, I hope his system works tonight!

Based on Fengshui, fire and wood elements are considered strong yesterday, today, tomorrow and Saturday. It has strong fire elements tomorrow and Saturday. Hopefully, the US markets are supported by these Fengshui elements and bull market players come in to support the markets lor!

If US markets rebound, could we see Asian markets rally tomorrow as well?

Remember, this week is options expirations in US markets, so particularly volatile.

Let's wait and see.

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