DOW (S&P) 3rd DEC 2008 Daily recap

"Break of the Weekly 50% level and expectation is that prices will continue down into the Weekly lows.

Wednesday:- the only conclusion I can see on Wednesday is a move lower.

A break of support (yellow) will confirm the down move into Wednesday's lows.


Don't short trade above those 5-day 50% levels:- Daily HOOK over the Weekly 50%"

Premium Report


DOW Weekly and 5-day pattern

I had modelled further weakness on Wednesday based on the price action of the past two days, as part of the Monthly dynamics.

However, price bounced off support and moved above the 5-day 50% level, with a late rally into the close.

This has now resulted in a HOOK bar over the Weekly 50% level, and now the expectation is that US markets should continue to rise higher into Friday.


Posted by