Sunday, August 23, 2009

New rally in the making next week ?



Both indexes (DJIA and SSE) made great performance towards the end of last week.

DJIA made great run on last Friday (21 Aug) with gain of 158 points, breaking it's strong resistance level 9406 points.

Also, Shanghai Stock Exchange made a confirmed bullish reversal on Friday.
Best part the reversal occurred at it's strong support level 2784.

Early of the week, there was a shock around the world and most of indexes undergo correction phase.

Questions:

1) Does the correction phase ends ?
2) Is it the beginning of new rally phase ?

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