2/27/08
Investors just need to take some profit after 3 days rally breakout from triangle formation that I mentioned from last post. Also, Dow is hitting the resistance level 12750 and formed bearish doji star candlestick pattern. But if Dow trade above 12750 and lasting long enough, it is very bullish side for equities. Also, US dollar is breaking history lows compare with other major currencies, like Euro/US trade above 1.50 level and Crude oil is trading above 100 for 2 days. With high inflationary pressure, high commodities and energy price, us economy is entering stagflation likely.
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