Hi, these are just ideas not recommendations, sometimes I trade my ideas, sometimes I don’t.
Always remember, yours is the responsibility for your trades,
Good luck,
Erick



Wednesday, February 15, 2012

Market update

The Dow Jones Industrial closed below an important trend line today, it needs a 0.14% - below today last price to give the first short signal since December 20, tomorrow at the close.

The Dax continues relentlessly up, a 1.07% drop is needed tomorrow for a short signal.


The Russell has been giving mixed signals for the last couple of days, today again it closed on short, a 1.25% + gain at tomorrow’s close will reverse the short.



Basic materials, the smallest weight group in the Dow is in daily short mode since February 10.



Financials hold about 10% weight in the Dow, it barely closed below the 271.11 support today. 1.33% or above up close tomorrow is a long signal again.

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About Me

I am a civil engineer who likes charts, to me, speculating in the markets is both a hobby and a second profession and in my view the stock market is the most honest environment, since it is only your knowledge and preparation that matters. I live, and work in the construction industry, in the Dominican Republic. I read and answer all my mail so please feel free to write sternloinaz@gmail.com Thanks, Erick