Key US Market Indices Review: Reversal At Sight!

All three key US Market Indices (Dow Jones, S&P500, NASDAQ) are hitting the uptrend channel resistance.  Immediate support is the 20D MA. If these three Moving Average supports are broken, these market indices will be sent to the uptrend support. This month is the month of October when most crashes happen in this month historically. Earning season is starting soon when the companys report last quater earning. I expect lots of earning downgrade because I am seeing slowing down in economy for the next two quarters.

Dow Jones Industrial

S&P500 (SPY)


Sept has been a bullish month, What goes up must come down…. I may be wrong but I will not lose money if I am taking a safety first , wait and see approach without committing any additional money in the market.

Trade with extreme cautious!

This Post Has 2 Comments

  1. Sam

    Hi Marubozu,

    Can you please advise which software do you use for your technical analysis? In the past, I do very simple technical analysis with MA and RSI on DBSV’s trading platform. But now, I think the functions are not sufficient and after going through your blog, I thought technical analysis is very helpful when you know how to do it. And your blog provides information on exactly how this can be done. Thanks!

  2. Marubozu

    Hi Sam,
    You can download the software from Chart Nexus. You can google Chart Nexus to find out what is the link because I don’t help company to do advertisement here.

    Pro: You can do the charting offline & it is FREE.

    Cons: Only 3 years data. You have to pay if you need more data.

    I don’t subscribe to Chart Nexus but 3 years data is enough for my technical analysis.

    Hope it helps.


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