Trend line S4 held and confirmed, previous long bottom tail piercing pattern candle (Thursday) confirmed on Friday, bullish long bottom tail hammer, HH/HL, the chance to see a new BuC at S4 and K is increasing, Tuesday resistance at MBB near 1559, then S1.
2. DJI Daily Chart:
Friday was a Follow Through day to Thursday's reversal "morning star" type of long bottom tail doji. New bull trend line is defined at 7449 and 7995, but it needs a 3rd, maybe a 4th HL spot as confirmation, possible next BuC is S6 and K; Tuesday resistance at S4, S5 and MBB, C is still a critical resistance, and bull or bear is still unclear until C is turned out to be a ceiling or a floor...
7774, 7449 & 7995 could be a nice H&S bottom set up, neck line is line A, a close above 9088 with increased volume is need as a final confirmation.
For now... enjoy the move until line C first...
3. $SSEC Daily Chart: (Chinese A share)
R1 is cleared, R2 is the neckline for H&S bottom (1802, 1665 & 1815), penetrated last Friday, we could see a "Happy New Year" rally starting US time Sunday (Jan 18) night, Chinese mkt will have 2 trading days before US market resumes trading on Tuesday. The next resistance level is at the previous high near 2100. Shanghai A share is already in a BuC since the beginning of 2009, the bullish trend line D is already tested 3 times, C&D is a valid BuC.
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