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TrendSurfer
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Stock market technical analysis, chart trend analysis, and chart pattern recognition.
My company:
TheGreedyTrader Group
My blog:
Trend Rules
  • The Dow Jones has formed a falling channel pattern  0 comments
    Feb 7, 2010 9:02 PM | about stocks: DDAIF.PK
    Last week we have suggested that a short-term rally may start soon. The rally has started on Monday and took Dow Jones from Friday's 10,014.35 low to Wednesday's 10,356.86. Dow Jones added 342.51 or 3.4% in three days. Then the market turned negative, erased the gains and went lower at the end of the week. It was the fourth consecutive negative week for the Dow Jones. During the week, the ^DJI gave back -55.10 points, or -0.55%, and closed at 10012.23 on Friday, February 05, 2010. Weekly volume was 9% below average.

    Our medium-term outlook has not changed. A medium-term uptrend had started on March 9, 2009 at 6440.08 and reached 10767.15 on January 14, 2010. ^DJI gained -4327.07 points, or -67.19%, in 44 weeks. Dow Jones is near the medium-term trend support line. The 50 Day Moving Average line could be considered as a resistance (10416) one. Read More ...

     
     
    Dow Jones Industrial Average
    Technical Stock Market Timing System
     


    A short-term downtrend had started on January 14, 2010 at 10767.15 and reached 9835.09 on February 5, 2010. Dow Jones lost 932.06 points, or 8.66%, in 19 days. The short-term downtrend has formed a falling channel pattern. The third wave (C) down is in progress. If the trend continues, Dow Jones may reach 9600 area by the end of the wave C. Resistance is near 10290.
     
    Dow Jones Industrial Average
    Technical Stock Market Timing System
     

     
    Stocks: DDAIF.PK
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