June 24, 2010

Dow Jones Trading below fifty hour sma

  • Dow Jones Trading well below the 50 Hour SMA.
  • The index is also trading near the bottom of the ichimoku cloud.
  • An hourly close below the cloud would be bad news.
  • 10260 is an important support on closing basis so Dow May try to close above 10260.
  • For that the bottom of the cloud should give it support for an intraday rally from here.

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