DOW Daily 24th March 2009 recap

"DOW finally reaches the March 50% level, but both markets have closed above their 3-week highs.

At this stage there is still an expectation of higher prices during March.

Tuesday's highs are resistance, often price can come back and retest the 5-day break along with the 5-day 50% level and continue higher"


Premium Report



DOW Weekly and 5-day pattern

US markets didn't rise high enough to get into a short counter-trend move back down into Support.

Price is still trading above the Weekly highs and above the 5-day high Breakout from Monday.

If the trend is going to continue higher this week (higher weekly close), then around those levels should find support and move back towards the highs.

If not, then there is a view that US markets are stalling for 2 days and moving back down into blue filter support.