Venture - Cup and Handle Pattern

In my early post dated Oct 13, i mentioned that the venture will challange 9.55. Once break out it will then test 10 again. Till now 3pm it has finally reach above 9.55.
From the chart above, it shows that if it continue to move uptrend at 10, then a nice cup and handle shall form. This pattern has started since last year august.

All the best, venture !!

DOW is in Bearish rising wedge formation

In my previous post dated Oct 15 i mentioned that DOW had not much room of uptrend.

As from the above chart we can see it forms the bearish rising wedge formation in 3 months time. This is somehow not a very good pattern we are expecting for.

What is Bearish rising wedge formation ?

First of all, a wedge formation is similar to a symmetrical triangle in appearance, in that they have converging trendlines that come together at an apex. However, wedges are distinguished by a noticeable slant, either to the upside or to the downside.
In our case of rising wedge is considered bearish.
So be alert in our local market that may cause big fall should Dow happened to be a trend reversal.
Cheers !

Market is back in active now !

As i had stated in my previous post dated Oct 13 that venture is in its uptrend move this few days and we set a target breakout at 9.55. Till yesterday it show to me everything is in order. We are almost touching the level....Keep it up venture !

As for sti, finally the long winded index has reached 2700 again. This is still not a good moment to celebrate the next up trend move yet. As i se we will still need a strong break out signal to push it up firmly. Orelse the pattern may turn into trible top and it is not good at all. My strategy is to be more patient this moment, i understand a wrong direction move can cause big trouble. Well lets patiently wait for another 1 to 2 days to confirm the trend.

In my early post dated Oct 10 i had stated dow will reach 10000 in few days time & it does happen.What next ? It may go up further but not much room already.

Cheers

Market Status

Dow seems to reach its current peak. The momentom indicators are showing sign of weakness since August.
As in local market, some blue chip such as Noble, Olam or venture still look healthy. Bank counters does'nt look attractive to me. Creative is still in weak vol so i am afraid downtrend may still intact.
Overall our local market still weak as they are many counters transacted in weak vol this period.

Venture

This counter is in its uptrend and was challanging 9.55. Once breakout, the next target shall be 10.

Dow Status

Dow when up yesterday. In short term next week they may continue its uptrend as the MACD still stay above 0 line. Due to the volume never move high, I target it at 10000 to achieve !