DOW S&P 11th June 2008 Recap

"Price broke out of the 3-week lows last Week, which often suggests that price will continue downwards into next week's lows.

After two trading days, traders now begin to look for rejection patterns and a continuation down....

Whilst price is trading above support the expectation remains a move towards the 5-day 50% level, but this time any failure around those levels then look for a break of support and a move down into the 5-day lows again."

Morning Report (Trader Premium)

DOW Daily and 5-day Recap

After two days of consolidation (Monday & Tuesday) price continued down into the 5-day lows with a break of support on Wednesday


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