Oil Markets began to rally to $101 last Friday, and so are GLobal Equity Markets, I still believe, if nowhere to run, follow Oil markets. So if Oil markets rally, so will our Global Equity Markets.
Overall, Dow Jones got a support at 12350 level, we expect the support of the uptrend above is at 12,250, but seems that at this point, U.S. can now rally. Looking into the 2nd DOW JONES Chart, its an extended view of the Market, and we still see, medium term, its still on a uptrend cycle with Major support of 11,500.
Despite European problems, U.S. is still on a Fair Value based from earnings on its Top Companies. Trade the Range.
PSE market is one of the exagerated movers in Asia Markets, we see a 5% drop in 3 days, then a 5% rally in 3 days.
PSE is now recovering, but is near to its 4400 level resistance, MACD and RSI is still not showing any positive effects to this.
For short term traders, Trade the range of 4150 and near 4320 level.
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