Boeing Trending Versus DJIA & SPX 500

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  • #33516

    Replying to #

    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.


    Research Department
    Replying to #

    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!/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.

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