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



Monday, August 13, 2012

This week support and resistance, Dow Jones, Mid Cap, Russell 2000.


Here are the 35-days moving support and resistance lines for this week:

Dow Jones trying to keep above resistance at 13119.30


Mid Cap is doing the same with a resistance at 508.45 for the next five days.



Russell lagging inside a trading range, tier 2 companies start the uptrend after blue chips but finish first, let’s see if the Russell can break resistance.



Steel not doing so great today, last week it broke over resistance with fair volume.


The markets continue with very low volatility.


And the inverse VIX is taking advantage of it.



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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