DJIA Potential Short Term Reversal Zone

Potential short term technical rebound will probably take place within the red rectangle zone indicated in the chart above. If 12000  level support breaks next support zone is marked by the blue rectangle. Be nimble.

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Equis Metastock 11 MACD Expert System Exploration for Potential Buy Setups

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Hyflux Retesting Gap Support

Gap support breakdown will probably see a drop towards $1.35 support zone. Stay alert and be nimble. Rebound will most likely meet resistance at $1.585 high formed on 22nd Feb 2012. Expect more range trading if price remains within $1.585 to $1.43 band.

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DJIA to Fall 4,000 Points in 2012, Granville Says

Jan. 23 (Bloomberg) -- Joseph Granville, a technical analyst who has been publishing the Granville Market Letter from Kansas City, Missouri, for more than 40 years, talks about the outlook for the U.S. stock market. He speaks with Adam Johnson on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Watch video at http://www.bloomberg.com/video/84758540/

Joseph Granville - On-balance volume

On-balance volume (OBV) is a technical analysis indicator intended to relate price and volume in the stock market. OBV is based on a cumulative total volume.

Total volume for each day is assigned a positive or negative value depending on prices being higher or lower that day. A higher close results in the volume for that day to get a positive value, while a lower close results in negative value. So, when prices are going up, OBV should be going up too, and when prices make a new rally high, then OBV should too. If OBV fails to go past its previous rally high, then this is a negative divergence, suggesting a weak move.

The technique, originally called "cumulative volume" by Woods and Vignolia, was later named in 1946, "on-balance volume" by Joseph Granville who popularized the technique in his 1963 book Granville's New Key to Stock Market Profits[1]. The index can be applied to stocks individually based upon their daily up or down close, or to the market as a whole, using breadth of market data, i.e. the advance/decline ratio.

OBV is generally used to confirm price moves.[4] The idea is that volume is higher on days where the price move is in the dominant direction, for example in a strong uptrend more volume on up days than down days.

Info Source http://en.wikipedia.org/wiki/On-balance_volume