DOW Daily 27th February 2009 recap

"Last day of the month and expectation US markets are going lower.

break of the Yellow support is to follow the move down into next day's Yellow support, as part of a 2-day reversal pattern

Limit trading longs below Yellow support, as Friday can close lower preempting the shift in the Monthly support"

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DOW Weekly and 5-day pattern


US markets following the larger trends with the expectation that markets are going down into March lows.

There was some early support on Friday @ 7148, but the break and reversal down followed the expectation that there is further weakness next week

Break of support on Friday moved down into Friday's lows, and then remained between the Lows (green Channel), and the support levels, which became resistance levels.

Weekly Report out later


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