Friday, September 5, 2008

Dow on the way to 10,000


9/5/08

This daily chart of Dow tells me that market is indeed going to retest july lows. Moreover, the pattern may indicate it is more likely going to trade lower. Double top appeared after each intermediate uptrend tops. See once the uptrend line support broken, it followed one distribution day. In order for sure if it has legs down to lower, I need to see at least one more distribution day. Now, it is morning hours of 9/5/08. I will try to analysis more this weekend. BEAR RULES period.

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