Downtrend continues

Dow Jones broke the 200d MA on the latest closing and that is very ominous. It closed with a nearly shaven long black candlestick.

Dow Jones Industrial Average:


The Straits Times Index covered back the previous gap down with another huge candlestick and that is bearish. There are some important support area that is going to be tested soon. They are the previous dip made in november and the orange trendline.

Straits Times Index:


I spotted Celestial testing a very important support level of $1.03. Notice this level has been tested successfully thrice and it stretches all the way back to June last year. At this point of time, it is testing this level so we shall see how it goes.

Celestial:


I just sold off my position at a small loss. Right now, i will be taking a break of few days cos my mind and my heart is not ready to look at any charts. Guess it is better to stop and reflect on my mistakes den to plunge straight in and make more irrational decisions. For a start, it's been very tiring to hold on to my losing position and i should have gotten out earlier. Now i will just wait for the market to bottom before picking up counters at their succesfully tested support levels.