dowjones technical analysisdowjones technical analysis

US 30 ( Dow jones ) trading at 18120 , it retraced back from its highs of 18188 to 18100 odd range today after below average US Durable Goods data and its trading on lower point only , American economy has been gaining good momentum since interest rates are almost zero and americans enjoying a dream run in equity markets but ground reality is not that great and dow jones and other major companies in index are highly over priced hence we are not bullish on dowjones from here at 18100 levels . We are very near approx 12-18 months away from another recession and we expect there would be another tech bubble . Tech companies are highly over valued such as whatsapp who made almost no profit compared to its valuation of nearly 20 billion dollar . Even in india many startups like Flipkart valued in billions who are making loss since its inception

Chinese markets have given astonishing return of 120% and its going without any fundamental reason and its a bubble which should come hault soon and its gonna send world in a shock of recession very soon .

Dow jones has been a good performer and now its trading at 18110 if dow 30 click our major resistance of 18220 and manage to close above our technical resistance then expect another round of green upto 18400 – 18600 in dow

If dow jones click our major technical support at 17600 and manage to close below this level then expect party for bears upto 17300 – 17000 and even more

Dow jones analysis conclusion : we are not scaring you nor suggesting you any major sell in dow jones for now , but we are giving you a caution note on world equity markets including dow jones

More will update to our dow jones trading signals subscribers

By marafat