June 10, 2010

Dow jones analysis after closing bell.

  • The first chart shows the hourly channel. It looks bearish as the index should move to the bottom part of the channel now so the target for that should be around 9700 levels.
  • The 2nd chart the is the confirmation of the bearish cross over of 20 SMA below 200 SMA. Now what ever happens from here would be a retracement towards the 200 SMA and then another big fall will happen.
  • Third chart is the bigger picture that everyone should keep in mind out of this pattern dow will decide which way it wants to go. Seeing the developments it is going to be down. Or an upside false break out and then down.

No comments:

Post a Comment