September 5, 2010

Dow Jones Weekend update

  • Dow Jones is showing a triangle formation in its daily chart.
  • Right now a rally towards the top of the triangle is going on.
  • The current up move may find resistance around 10600 where the price will meet the resistance line. 
  • A dip from 10600 towards the support line of the triangle will create a classic triangle breakout set up for Dow Jones industrial average.
  • Triangles are known to give false breakouts. So a false move above 10600 is also possible, This move may not go beyond 10750 where the resistances are strong.
  • S&P 500 WEEKEND UPDATE
  • DOW JONES PULL BACK TRADE

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