17 October, 2021 (10:25 pm EDT)
Tough times don’t last; tough people do (and Dow Jones).
—Stock Markets 🙂
Let’s talk about how Dow Jones closed the last week, then we’ll talk about how it may impact the world stock markets this week.
Dow Jones rallied more than a thousand points in the last three sessions of the previous week. On weekly charts, this mega-index made a candlestick that resembles the Halley’s Comet. A long week, rising from the low levels and closing at the highest level of the week. This is a strong ‘bottom hammer’ candlestick and indicates more gains in the forthcoming sessions.
So, today, when Dow Jones futures are slightly positive in the Asia session, I am sitting back, waiting for these numbers to rise, whether in the global session of after the opening bell in US stock markets, I don’t know. But the technical charts of Dow Jones say that this index will continues it rise this week.
If Dow Jones rises, global stock markets will continue their rally too.
Right now, most of the Asian stock markets are trading negative. US stock futures are trading mixed and SGX Nifty is slightly positive. But the overall weekly trend for world stock markets has been positive, and will stay positive this week, if Dow Jones continues its performance from the last week.
Day traders should take advantage of these positive circumstances and trade with the trend. If you follow the trend (rainbow) you will get the proverbial pot of gold at the end of the trend 🙂