DOW Futures Daily 1st Oct 2009

"There is an expectation during the 4th Quarter that the market will continue higher during October/November,

However, my preferred pattern before any continued UP trend would be to have a lower Weekly close and test the Weekly lows in the early part of the Month, and then continue higher in the later half of October/November"


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DOW Weekly and 5-day pattern

Early push down in October and into the Weekly lows.

I have an expectation that US market will continue higher into October, but that's going to depend on how Friday closes.

There is a potential move down into the October 50% level, however, if Friday & Monday ends up being supported around this week's lows @ 9398 (5-day low on Friday)

Then I need to see a Weekly HOOK pattern back above 9581 (next Week), to get the last leg of the July breakout pattern to complete higher in October.

Note:- it not a forgone conclusion that the last leg will complete upwards because the S&P has failed at the 3-year 50% level (precise highs) and now below the Yearly 50% level @ 1038.

Therefore next week's HOOK has to be back above 1038 on the S&P




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