DOW Makes a Shooting Star on Weekly Charts

Dow makes a bearish Shooting Star on Weekly Candlestick Charts

Dow has made a bearish candle – Shooting Star – on weekly candlestick charts in the week gone by. Though a confirmation is required on the weekly candlestick charts in this week to confirm bearishness of Dow, there are adequate technical indicators already in place to indicate bearishness of Dow. Bullishness of Dow particularly in the last month or so could be attributed mainly to short covering. Now that Fed has given indication of interest rate hikes (two or three does not make a difference), US stock indices can be expected to drift lower from here, for times to come.

Here are two charts which can give the readers some food for thought.

I also recommend the readers to have a glance at my previously authored posts:

1.    Year 2015 – End of Era – The fading away of USA and USD

http://commoditycurry.blogspot.in/2016/02/year-2015-end-of-era-fading-away-of-usa.html

2.    Donal Trump May Prove To Be Right

http://commoditycurry.blogspot.in/2016/04/donald-trump-may-prove-to-be-right.html

3.    Ace TRUMP and Being MODI fied

http://commoditycurry.blogspot.in/2016/11/ace-trump-and-being-modi-fied.html

Best wishes for the festive season.

The author can be contacted at: riskadvisory@outlook.com.

DISCLAIMER:

These extracts from my trading books are for educational purposes only. Any advice contained therein is provided for the general information of readers and does not have regard to any particular person's investment objectives, financial situation or needs and must not be construed as advice to buy, hold and sell or otherwise deal in any kind of commodities, currencies, securities or other investments. Accordingly, no reader should act on the basis of any information contained therein without first having consulted a suitably qualified financial advisor.