DOW JONES INDUSTRIAL
- DJI is at the top of channel resistance. If the index cannot break this channel resistance (about 10,500), it may retrace back to 10,100 level (close to channel support) in the coming one to two weeks.
Intel (INTC) is breaking out from a Symmetrical Triangle with increase in trading volume. This breakout is a bullish signal and also confirmed by the Technical Indicators. Price target is around $22.50.
GS formed a Bullish Abandoned Baby (another name is Morning Doji Star) pattern a few days ago but the trend did not reverse to up trend. The trend will normally continue if there is a pattern failure, and the H&S formation remains valid for the time being. I am watching closely whether GS will break the neckline and the support of $158.4. If these two supports are broken, GS will start a deep correction to about $138 level.