16th July we wrote at 18000 that a correction in dowjones is due and its happening right now , dont believe us ? here is link http://mohdarafat.com/dow-jones-technical-analysis/
Dowjones industrial spot trading 16790 lowest level of the day and its just digging more red for dow , nearest support in dow30 at 16580 once market slip below this level and close then expect another correction upto 16400 – 16200 and below 16000 also not ruled out
Dowjones cracking from 17500 and it lost almost 800 points from this level so we wont be surprise if market shows 200-300 points recovery from here , however a good resistance at 17100 once dowjones cross and close above this level then expect 17350 – 17500 levels again
Dowjones technical analysis conclusion : You may label me a bear but i am not bullish on markets anymore we may see 18000- 18500 level due to some manipulation but next i will buy dowjones at 14000-15000 range only that too i will see if its value buying , market is very expensive and there is not much fundamental reasons to get another buy in market , technical trend is weak for now
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