Quadruple Witching Week
Welcome back from the weekend!
The Dow never did the decisive breakout I thought it will last Friday and is currently still in the danger zone. Yes, the 9500 resistance zone still has significant influence at 9600 points and the Dow can still be beaten down however slim the chances may be. Yes, odds still favor a bullish breakout as the Dow has yet to enter a deep oversold condition and its rising lows still suggest a strong short term bullish sentiment.
It is quadruple witching Friday this coming Friday when the market typically experience the heaviest amount of trading for the quarter. Quadruple witching is not necessarily more volatile but certainly is a heavily traded day.
For now, the Dow remains in all out bull trend.
The Dow never did the decisive breakout I thought it will last Friday and is currently still in the danger zone. Yes, the 9500 resistance zone still has significant influence at 9600 points and the Dow can still be beaten down however slim the chances may be. Yes, odds still favor a bullish breakout as the Dow has yet to enter a deep oversold condition and its rising lows still suggest a strong short term bullish sentiment.
It is quadruple witching Friday this coming Friday when the market typically experience the heaviest amount of trading for the quarter. Quadruple witching is not necessarily more volatile but certainly is a heavily traded day.
For now, the Dow remains in all out bull trend.
Chart of Dow Made Using Telechart. Want Your Own Charting Software? Download FREE Now!
posted by Jason Ng at 5:43 PM
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