Review of market - 07 Feb 2015

Dear Fans and Readers for SGWiseInvestors,

Yesterday market has hit all time high. this is boosted by the U.S. jobs created at fastest pace since 1997.

We can see that the market is taking this chance to offload their holdings for Short Term gain.
This is a bad sign for Short Term Long holders. Beware!!! On monday, we may see continuation of the start of downtrend to 17200. Volume has validate the downtrend. RSI has also showed it stalling at 55.77. If the market is up on monday, buyers can continue buying as the momentum has resume to the upside.  Currently we should see it now favorable to the downside.

INDU

NASDAQ

Yesterday price action has proven to be bearish. Volume is not low and RSI is pointing to the downside. Beware for further downside.


XAUUSD

Yesterday big down bar is extremely bearish. RSI is pointing to the downside.  However do note, the downtrend is still intact. If monday there is a spike up, we are still in continuation to the upside for the Short Term.


BRENT

Brent is going up? From the look of it. It is going to reverse soon. Why? Volume is down with the continuation of the upside. This will not move up for long. It is good to short some stocks like BP etc
which has link with Crude Oil.