Weekly Market Updates: WW12



Posted by lionel319 @ Sat 22 Mar, 08, 01:00PM under Weekly Market Updates






Wow .... what a handful of lines. :)
Well, let's go thru it one by one.

Last week was a 4 day week, with Friday being the holiday for Good Friday.

We saw the doji formed on last Monday, with a sign that shows a strong support at 11750 for the Dow Jones.

The next day, the Dows performed yet another strong show by achieving another highest gain in the past 5 years, breaking it's own record which it just achieved last week, by conceiving another 450+point gain in a single day.

This day completed a variation of the Rising 3 method (purple colour square box) , which is a candle chart pattern that shows bullishness continuation.

On top of that, the overall picture of the Dow Jones is slowly showing to complete a Double Bottom pattern (the huge 'W' in orange color), which is also a bullish sign, if only the pattern is completed by crossing over the neckline at point 12750.

Seems like the market is showing a lot of signs of bullishness ahead. My prediction of it is that, the bulls are now heavier than the bears.





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