Technical view by Nooresh

Dow Jones hits 13200 + …US economy going to a bubble????

Some of the words written on April 05 2007 ....Dow Jones was at 12530 odd levels...Now it has hit new highs and crossed 13200 levels...

Below are few of the words of the post :
""" The world is going gaga about US economy going to the dogs..Charts still dont give a hint of such things speaking technically .. """
""" It will face stiff resistance at 12550 region and cosnsistently closing above 12600 levels could take us to newer highs in coming months ......"""'
Dow jones now hits a new high at 13200+ ...We are looking towards 13350-13400 levels as resistance ...It seems its getting back into the momentum channel lets whether it sustains 13 k levels....Will soon come out with more elaborate analysis on dowjones , nasdaq , nikkei , hang seng etc when i get time ...
People talking about a bubble in US and in the world ...Does it matter to us ...But thats economy and we are investors and traders and we want money so if there are gains on the table go for it simple...keep your stoplosses and ride the profits..
Best Regards,
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Article by Nooresh Merani

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