Boeing Trending Versus DJIA & SPX 500

[Domkhor]

Hi Wei Ren,
 
Read your latest Technical Pulse on Boeing indicating a likelihood of uptrend in the near-mid term.
How is this interpreted together with your projection on DJ and S&P 500 for a downtrend?
 
Appreciate your view on this.
 
Thanks
Dom

[Research Department]

Hi Dominic,

 

The Boeing call is a short to mid-term, and if you realise my projected selling zone, the overall trend for Boeing is still within a range with potential upside to the key selling zone in my report.  So as long as the support zone US$141.69 and US$156.20 is supported, we will see a temporary upside to the selling zone.

 

The same thing for the DJIA and SPX 500, I mention in the last webinar on Monday that if the Dow is well supported at the support zone 24,681-25,015, chances are the sub-waves of the index will enter into a complex corrective for wave (ii). Should that happen, prices might continue to edge higher towards the selling zone (refer to https://www.tradingview.com/chart/YM1!/WZQNL0ZN-Dow-futures-see-further-upside-Short-term-bullish-view-remains/) of my post.

 

So in summary, we are not out of the bear threat yet. Do not be fooled by the rising prices.

 

I hope this answer your question.

[Author]

Posts