Signs of recovery

Things are certainly looking better now. Looking at the chart of the Dow Jones, it found support on the 50d EMA. Notice how it closed with heavy volume and a higher high has already been confirmed since the latest closing has exceeded the prior high. Volume has also been increasing. The next test will be the 13700 resistance level.

Dow Jones Industrial Average Chart:


For the Straits Time Index, the chart is also looking good. It closed with a shaven white candlestick with heavy volume so this is a good sign. However the closing happens to close just below the 1.5 years old trendline so a close above it, like what i said in my previous few post, will be very significant.

Straits Times Index Chart: