Dow testing 8100 again but fail to make a cut !!

DJI

It is very interesting to use Fibonacci tool to analyze the movement of stock index. Dow, again, unable to hold on early gain to successfully making a foot mark at above 8100.

The longer head tail of the candlestick suggests that profit taking and more sellers at upper end. Dow has trying several times to break through this 61.8% level (8100). However, it was not successful.

Next week, It goings to get more exciting, as any significant breakthrough will be signal another round of rally. Let us sit down relax and watch how the market unfold next week.