Dow Jones chart analysis

 

After the QE3 annoucement, the Fed had pushed the Dow Jones index to the top channel of the bear flag. With one month to go into the US election, will Dow Jones break out of the top channel or will it retract back to the lower channel?

STI condition before Fed QE3 announcement

I am looking at the chart of STI before Fed's decision on whether to release the QE3.

It is forming an inverted cup pattern which is very bearish. Currently at 10.55am (13th Sep), STI is trading at 3017. Whether the Fed announce it's QE3 or not, the picture does not look good for STI. Will STI rally after Fed announce the QE3? or no QE3 at all? According to the chart at the moment, it does not look to have a bright picture.

Dow Jones index

It was such a long time since i last updated thus blog. It has been a great upride to 12800 for DJ. At this junction, it will be a real test.

As refer to the above chart, it is travelling nicely along the 10DMA line. It is due to a pullback or correction now. Please exercise real cautious for those who are buying.