AI
Tuesday, October 28, 2008 11:32:51 PM
Looking at this chart of the DOW, I'm wondering if this pattern is a setup for a break DOWN, not UP.
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http://www.signalwatch.com/signalwatch/Premium/Archives/Oct08/1029/$INDU-D.gif>
Very interesting because today closed right at that downtrend line. If it fails tomorrow, or through this entire week, I think the odds are better than 50/50 that we go back down under 8000.
But a break up through it would probably setup for a move into the DOW 12000 range.
Very interesting because today closed right at that downtrend line. If it fails tomorrow, or through this entire week, I think the odds are better than 50/50 that we go back down under 8000.
But a break up through it would probably setup for a move into the DOW 12000 range.
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