Wednesday, September 05, 2007 10:51:22 PM
SignalWatch (EdDowns) DOW (Pull-Back)
15 minute
"The Dow opened the session with a steep decline away from the key 13,500 fulcrum mentioned in yesterday's commentary, which essentially sparked a steady decline worth 143 points, as seen in the 15 and 60 Minute Charts. After looking rather bullish yesterday, the Dow was unable to rally above the 13,500 level, which is cause for concern."
60 minute
"The Dow has carved out a nice 300 point trading range from 13,200 to 13,500 that has been in play for about 5 sessions. We could see a bit more movement within this range until a solid breakout occurs. A breakout from this range could spark another triple-digit trend in the direction of the break. "
However... "The Dow closed the day at the lows of the session within the boundaries of a tight consolidation, which hints at more weakness ahead. Watch 13,250 and 13,350 for early signs of direction tomorrow. "
http://www.signalwatch.com/markets/markets-dow.asp
15 minute
"The Dow opened the session with a steep decline away from the key 13,500 fulcrum mentioned in yesterday's commentary, which essentially sparked a steady decline worth 143 points, as seen in the 15 and 60 Minute Charts. After looking rather bullish yesterday, the Dow was unable to rally above the 13,500 level, which is cause for concern."
60 minute
"The Dow has carved out a nice 300 point trading range from 13,200 to 13,500 that has been in play for about 5 sessions. We could see a bit more movement within this range until a solid breakout occurs. A breakout from this range could spark another triple-digit trend in the direction of the break. "
However... "The Dow closed the day at the lows of the session within the boundaries of a tight consolidation, which hints at more weakness ahead. Watch 13,250 and 13,350 for early signs of direction tomorrow. "
http://www.signalwatch.com/markets/markets-dow.asp
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