Thursday, April 2, 2009

Continued: is it the time for Dow Jones to rally?

As it was discussed on mid march 2009, whether or not DOW is rallying up in short period of time.
Let's take a look at the chart. I display ten-year chart of Dow Jones, as we can see that the first day of april is bullish because it was closed positive 150 points and Dow is around 7,700 points right now, it's pretty impressive, rally up quite significant since mid march 2009 rally up day by day, since Bank of America (BAC) announced that in the first two month of year 2009, it made profit and it most likely, it didn't need bailout from US Government.

Let's go back to Dow Jones chart again, in year of 2002, Dow hit as low as 7,500 points due to bubble tech crash that made DOW tanked for few hundred points and right now, year of 2009, we are in 7,700 points, and we just starts month of april 2009, it is still long way to go. In my opinion, I could be wrong though :-), Noted: No one could be absolutely right in the market and market is too dynamic to predict. Dow might constipate for few time before making new high or new low and it highly depends on earning season or economic Calendar and later it makes response to analysts.

I hope we all have clear idea where market might go to and be prepare for the best and always expect for the best.

Good luck my friends and always safe trading

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