October 3, 2010

DOW JONES Weekend update

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  • The Diamond pattern and the spinning top Candlestick pattern may be able to stop the bulls from trading above 10960 levels.
  • Diamond pattern is a bearish one so this one needs some help from the spinning top pattern as well. But if price starts trading above 10960 the above Scenario will be invalidated.
  • Last week price got resisted at the 78.6% Fib level. So a good volume breakout above this level will be good news for the bulls.

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