1. It is a matter of concern that globally stocks are not showing any signs of correction and a down trend is continuing in the stock. One will notice that
Dow Jones Industrial Average has again gone down by another 6 per cent weekly loss and it has a strong support at 6356 and if this support is also broken than one may see this index falling to the levels of 5182. If we study the charts than one will visualise that on lower side it has a range 7479-6498-5370.
2. Dow Jones Industrial Average has strong resistance at 7200. We must keep watch on S&P 500 levels which has next support at 605.
3. Another matter of concern is that fear index or appropriately called as
CBOE volatility index has reached the peak at 53 during the week and it indicates that market is filled with nervousness and investors are hesitant to invest due to fear factor.
