Drawing near to end of week

I am eagerly waiting for the Dow Jones to close in a few hour's time as the closing can proved to be crucial for the trend next week. Nothing too technical on the Dow Jones chart for this post. No complex formulas for technical indicators to bother with. Just the simple old-school classical technical analysis and the basic concept of support and resistance with trendlines. There is just one thing to watch out for and that is whether Dow Jones can break the horizontal resistance of 13250 with high volume.

Dow Jones Industrial Average Chart:


Some bullishness spotted on the STI. A hammer or a near-doji was formed on today's closing and it tested the upside gap of around 3320. Notice that this hammer had a very long lower shadow and this contributes to the bullishness of the hammer. Coincidentally, 3320 happened to be the resistance level at around March this year. Thus the level of 3320 should be an important support level for the days to come.

But also take note that the STI still failed to break the trendline and the 50d and 100d EMA. I think i am getting contradictory :p

Straits Times Index Chart:


Today Ausgroup formed a harami which suggest that there may be a change in trend so gotta keep on observing the chart for this counter.

Ausgroup Chart:


The chart for Singtel taught me some stuff which i read before in a book but yet to seen in real charting before. I was reading one of Larry Williams books and there was a concept which i still remember it as the quick profit day. Basically, the price action would be trending sideway or forming a rectangle. If the A/D line suddenly shoot up while the price action is still within the rectangle, a trade entry is warranted.

Notice for the A/D line for Singtel's chart, it broke out of a horizontal resistance with a very steep gradient while the price action gap down. And soon after, price action broke out of the rectangle soon.

Since this is only my 1st time seeing this, i am not proposing that i should always place a long whenever i see this situation happening again. More observation is needed to confirm the validity of such a strategy. But meanwhile, i will just post this chart for reference.

Singtel Chart: