Tuesday, May 15, 2012 5:40:12 PM
Previous breaks tested major support
All the prior breaks tested some major support level or the lower bollinger band. To me that would signal a test of at least 12500 here. Whether we came close enough today at 12600 is the question?
Below 12500 we would most likely see it as Major resistance and multiple bounces and selloffs to retest 12000/11500.
Most of MKTSS long term charts got lost when Bigcharts switched to kaavio.Webhost so INDU is the only one I can show now. I never subscribed to stockcharts to cross anything over. For now 12750 was a rollover from support to resistance today, another sign of continued downtrend for now.
May 2010 and May 2011 both sold to low at eom
All the prior breaks tested some major support level or the lower bollinger band. To me that would signal a test of at least 12500 here. Whether we came close enough today at 12600 is the question?
Below 12500 we would most likely see it as Major resistance and multiple bounces and selloffs to retest 12000/11500.
Most of MKTSS long term charts got lost when Bigcharts switched to kaavio.Webhost so INDU is the only one I can show now. I never subscribed to stockcharts to cross anything over. For now 12750 was a rollover from support to resistance today, another sign of continued downtrend for now.
May 2010 and May 2011 both sold to low at eom
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
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