Some of the most popular index monitor by traders and investors all around the world are Dow Jones, S&P 500, Nasdaq and Hang Seng. But what did they actually represent?
Dow Jones represent the 30 strongest companies in the US market while S&P 500 represent the 500 strongest.
Nasdaq represent the 100 strongest companies in the technology sector.
Hang Seng Index represent the 50 strongest company in the Hong Kong market. It also typically represent the Asian market.
The grind continues. Recent price stabilization and behavior suggests another breakout may be coming. Unless we see a close above the green horizontal line at $6850 and then a move above $7070, these contra trending rallies should be contained. The price action is volatile, but only within this small trading range and as a result, we think it best to stay away for now. A close below $6030 will be the first sign of a breakdown and a shorting opportunity could present itself then.