Tuesday, September 29, 2009

Dow - Moved up with low volume

Dow gained 124 points (1.28%) with a very low volume of 4.4 billions. The closing price of 9789 is 40 points lower than its last week's height of 9829. For a positive up trend, it will have to break its upper resistance and it has to improve its volume to around 8 billions or more.

Hang Seng regained 424 points (2%) at the close today and moved back to stay above its lower trend line.

I see no sign of an immediate sharp pullback, however it is good to be cautious in view that Dow so far has gained 50% and Hang Seng has gained 85% since their respective March's low of 6,547 and 11,344.

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