ZLBT Chats

Tuesday, April 21, 2009

DJIA ... When Do We Call It Bottom?

Dow Jones Industrial Average

The Dow rally broke clear of resistance at 8000, but slowed over the last 3 weeks to the point where it is now testing the lower trend channel. Reversal below short-term support at 7800 would signal that the rally has ended, while follow-through above 8200 would indicate a test of 9000.

Oscillators indicates consolidation; a breakout above 8200 would signal trend strength; and reversal below 7800 would warn of a reversal. In the long term, the primary trend is downward and respect of 9000 would indicate another down-swing.

Dow's effects on the rest ..........


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