DowJones index and bulls

Double Dip rumors wiped out

Double dip rumors wiped out by DowJones index CFD evolution, value index (10.4xx) that is very close from the open of the year (10.443) and also close from the open value of the month of August(10.514) value that if is pasted by the end of September, will develop a engulfing pattern, in a bullish trend wich means will be future bullish evolution.

DowJones CFD numbers evolution

Source : www.tradeville.eu platform

DowJones CFD chart evolution

Source : www.tradeville.eu platform

In Q3+Q4, Bulls will come back in markets

DowJones Index has less then 200 points to punch the bearish trend started in May 2010 and put bulls back to work, plus RSI indicator is helping (now at 58.245) because has more than 10 points untill overbought value.

DowJones index evolution

Source : online.wsj.com

Tehnically we are not that far from a bullish market, and fundamentals are helping to, from 35 reports that will come next week and influence the markets, 24 are forecasted better than last, wich means that fundamentally if analysts are not wrong , we have 68.57% chance to brake that bearish trend.

Report written by Scuturici Petru-Alexandru
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Time is set by Romanian clock source: www.forexfactory.com