Tuesday, April 11, 2006

Dow Trend Bounce

Just a quick intraday post - take a look at the first graph in yesterday's post, showing the two ascending trendlines the Dow has to break in order to turn bearish. The market's down right now, but look at how the Dow hit the higher trendline and immediately bounced.

As long as I've been doing this, I continue to be amazed. Anyway, you can see the market respects this line in the sand. It's got to break the line clearly to make the next move down.

1 comment:

Kapil Khanna said...

10900 is not very far away. Lets see if it takes support there or breaches. Never second guess the markets.