Sunday, September 23, 2007
Can Friday's Dow Index still sustain next week?
Tracking the Dow Movement on Friday
It closes 2.52 points below the Moving Averages.Looks like a graveyard doji.http://stockcharts.com/school/doku.php? id=chart_school:chart_analysis:introduction_to_candlesticks during the last minute of trade.Despite Dow in the positive terittory,the intraday movement shows sign of many small dojis and bears outnumbered the bulls.
Next week we have Consumer Confidence figure (Tuesday),the Final GDP report & jobless claims (Thursday) and Consumer sentiment (Friday).It's the end of 3rd Quarter and caution ahead!Friday's candlestick seems like a short-covering and not sustainable.