It is not wrong but most of the world markets are at massive support levels. FTSE below 5,000 has bounced out everytime this year. Dow 9800, Nifty 4930, etc. So fresh shorts might be risky. However if you hold short 5020 should be used as stop and keep on holding them.
I am expecting dow to close above 10,000 in todays trade and tomorrows trade. It should open high and keep going up. If it doesnt first target is 9630 on the dow this is what was seen yesterday when the futures market opened when dow closed. However the entire dip was bought into suggests something fishy. Also Asia showing strength today combined signals up move on dow. This happened a few days back and dow rallied from 9900 levels to 10,300. Lets see what happens now.
First hour of dow will tell the direction.
I am expecting dow to close above 10,000 in todays trade and tomorrows trade. It should open high and keep going up. If it doesnt first target is 9630 on the dow this is what was seen yesterday when the futures market opened when dow closed. However the entire dip was bought into suggests something fishy. Also Asia showing strength today combined signals up move on dow. This happened a few days back and dow rallied from 9900 levels to 10,300. Lets see what happens now.
First hour of dow will tell the direction.