August 21, 2010

  • Dow Jones industrial average closed 57.59 points or -0.56% down.
  • The index is trading below its 50 day moving average. It is also trading below the 50 week moving average.
  • There is an important support line in daily chart. If that is broken on closing basis. 10000 will be broken.
  • If the support line is held a falling wedge possibility exists in daily chart.


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore