DJ Banks Titans Index: 6 January 2013, Sunday, 8.30pm Singapore Time
As attached, the above shows all the shorting points and longing points, as well as the health of the US banks and US banking sector.
The US banking industry has overcome and negated a big bear market price structure. Contrary to all the gloom and doom towards United States, the banks will now help lead all three US markets (DJIA, S&P500 and NASDAQ) to new bull market highs since the 2008 financial crisis. This will also spur international financial markets and indices around the world to hit new highs.
From above structure, the banking index is to hit 76.77 pts and this means a break up of big resistance (DOUBLE BLUE LINES).
This will then create a powerful new longer term uptrend that can last for at least 1-2 years.
This also implies sustained US recovery and that markets will climb over the walls of worries, contrary to the big gloom and doom that we hear from experts every now and then.
The ascending triangle that has broken up implies that the heavy selling-pressure resistance indicated by the DOUBLE BLUE RESISTANCES will break up; this is a clear show to warn other big hands or potential long term investors not to take profits at the double blue resistance, and not to sell early or to short, or they will regret.
Donovan Rating:
Get into the market to ride the up-waves in US Banks, US Markets, Asian Markets and European Markets. Investments will now start to reap good and probably high returns in the next 1-2 years in the resumption of bull markets in especially Asia and Europe.
Donovan's Market Analysis:
