ZLBT Chats

Tuesday, July 27, 2010

Dow Jones Industrial Average >>> The Broadening Wedge

Dow Jones Industrial Average
The Dow recovered from last week's scare and is advancing towards the upper border of the broadening wedge formation. Breakout would indicate reversal of the primary down-trend, before it really began.

Rising Twiggs Money Flow (21-day) indicates short-term buying pressure. Reversal below the lower border, however, remains as likely and would offer a target of 9000*.

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