Update: DOW Done Dropping??
(DJIA)
Is the Dow done dropping? It’s everyones question in the market this week. In the image above we can see that price has hit a “Major” support level and it’s holding strong. For now we still play the trend which is down but as traders we must be prepared unexpected movements. This week alone has shown very possitive economic news with an increase in ”CC” (Consumer Confindense) and “New/Existing Home Sales.” With the market being VERY oversold and possitive news theres a chance we’ll see a major pull back. Analysts are speculating a pull back as soon as this week. More info on that in the article below.
As mentioned in the “chat” and “market updates,” several currency pairs, indicies, commodities, etc. are forming, what could be, “double bottoms.” If that price pattern confirms, movements can be expected to retrace as far as old highs/lows. With that being said, wait for confirmation because price rules all and these markets could just as easily continue on down.
July 15th, 2010 at -07:0020103331America/Phoenix15: am31
Buy:Lumigan.Synthroid.Arimidex.Zyban.Human Growth Hormone.Prevacid.Retin-A.Actos.Valtrex.Mega Hoodia.Nexium.Zovirax.100% Pure Okinawan Coral Calcium.Accutane.Prednisolone.Petcam (Metacam) Oral Suspension….