DJIA Update (Oct 4)
This is the exact same chart I used on Sept 25. As predicted, Dow has finally touched the thick black trendline after losing 302 points in 4 straight sessions. Friday's closing was supported by the thick black trendline with a long legged doji at star position. I believed in the near term, it may bounce back to 9,650. Intermediate term still look bearish to me.
[Update] I have retracted my post on TechOil&Gas because it seems the trigger will never take place. Now that 40SMA was penetrated. The swing trade setup is destory.
Labels: Market Direction
posted by Market Wizards @ October 04, 2009
Comments: 0
