10/28/08
S&P and other major indices are having great rally today. However, the daily chart is telling us it is forming a desending triangle pattern which is bearish. If the support line got broken, you all know what it will happen. Every major rallies are for BEAR to sell off hard each time so far this year. Do not believe this is true rally if tomorrow close in negative note. Will tomorrow people is selling the rate cute news?! Who's know?! Let wait and see. Good Luck. It is because once the support got broken, next level for DOW would be 1000 points down( 7000-7200). We have not see any 2 up days in a row so far for this month.
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