Two days back, there was a nice REVERSE (Buy) signal in stocks and indexes. Today many of them came close to touch those previous bottoms but then successfully (and very powerfully) reversed the trend. Though no new bottom was created today, I take this as a powerful confirmation of the end of the bear market of last few days.
Here is the chart of DIA. You should be able to see a powerful reversal on it.
It is time to go long with stoploss at today's low prices.
Friday, August 27, 2010
Wednesday, August 25, 2010
Is market turning up for short to medium term? Yes, there is a REVERSE (BUY) signal in most stocks today so one can trade bullish with stop loss at today's low prices. If you are still bearing overall, book profit after a 5 % rise of current levels.