Market Update: Dow Jones Broke Out Of Wedge


Trading On The Move

After months of sideways movement in a wedge chart pattern, the Dow Jones has a strong bullish breakout of the wedge after a strong bullish hammar spotted on the daily chart.

Despite the U.S. non-farm payroll did not meet the forecast of 224K, the result has jumped from the previous 85K (3 April 2015) to 223K (8 May 2015).

Let’s look at the Germany Index, DAX. After the massive bullish uptrend, the market is moving in a downward trend as shown in my charting. The index has touch the resistance trendline and likely to retrance down. If the index break out of this trendline, the market will challenge the next level at 12,100.

Swiss Index or SUI30 is probably my favorite on Friday for my usual petty cash earning. The market has found it’s base which I have entered. With 1 unit of $600, I have earn a 20% profit.

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