one of my different forum friend asked me to do comparison analysis between dow and sensex , so i am putting it here too .
since i got access to futures data only so my levels are for futures for dowjones
on dowjones 15600 about is immediate support which is needed to be taken out for saying that uptrend has been neutralized ,and 14472 to be taken out, is for trend to turn bearish .all levels are on closing basis
on sensex the level for trend to be neutralized is 20137 ,and for trend to reverse for bearish is 19264 .both closing basis
these are all independent levels , that means that it doesnt really matter which index takes out (if it does) the levels it matters for that index alone , it might be possible that 1 index turns bearish and other takes support at important levels but doesnt break and turn bearish,instead the markets starts the next upmove ,and its most likely is to happen with indian markets (if at all) because we are in at very near to start secular bull run i believe
since i got access to futures data only so my levels are for futures for dowjones
on dowjones 15600 about is immediate support which is needed to be taken out for saying that uptrend has been neutralized ,and 14472 to be taken out, is for trend to turn bearish .all levels are on closing basis
on sensex the level for trend to be neutralized is 20137 ,and for trend to reverse for bearish is 19264 .both closing basis
these are all independent levels , that means that it doesnt really matter which index takes out (if it does) the levels it matters for that index alone , it might be possible that 1 index turns bearish and other takes support at important levels but doesnt break and turn bearish,instead the markets starts the next upmove ,and its most likely is to happen with indian markets (if at all) because we are in at very near to start secular bull run i believe