DOW Daily 18th February 2009 recap

"There is a breakout of the Weekly lows on Tuesday, and this is a confirming pattern that price should continue down towards the February lows in both the DOW and S&P.

Which both align around the 7250 & 725 levels.

Push down into Wednesday's support in early trading and a swing back towards the breakout levels and weekly lows on Wednesday.

Expectation that these levels are resistance which could push the market back down"

Premium Report



DOW Weekly and 5-day pattern

Weekly low breakout on Tuesday, and the same Weekly lows have resisted price on Wednesday.

Wednesday's lows supported the market for today moving back into the Weekly lows, but once again pushing the market back down into the close.

The expectation is for price to continue down towards 7250.






Posted by