Monday, February 8, 2010

Ichimoku Analysis: Market still has room to fall



The market was down again today. However, this time I sold my DXD for some more profit. The market still has the potential to continue this decline, but it might bounce too. So with that I'm happy with this profit and I'll be back into some more DXD should it bounce higher. You can see there is some support at the 9700 level for the Dow. The DJIA closed again below the Kumo Cloud. The Blue Line (Tenkan) is also below the blue now. I really don't see much positive going on, so hopefully I'll be able to get back into DXD prior to a larger fall.

3 comments:

  1. Good blog.
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  2. I love your posts, thanks, do you know where i can find ichimoku for Ninja? I found a great Ichimoku Indicator for TradeStation and MultiCharts - Check it out Ichimoku Kinko Hyo
    but cant seem to find one for ninja trader

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