Friday, August 27, 2010

DIA- Nice confirmation of the bullish trend over next few days/weeks

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.

1 comment:

Jayesh Patel said...

Wasn't this a nice call? Look at the historical chart of DIA and you will see that, without triggering the stoploss, it went as high aas 110 in few days.