Technically, 9800 mark of DOW is strong resistance level to break, but once we past it, it will be very bullish. However, it seems market need to retest those fib levels and reverse. The last friday low should be bottom for this scary selloff and for the rest of this year. However, all major indices are still in bad pattern and it has long time to go to break the downtrend line.
Tuesday, October 14, 2008
Out of stream yet?!
Technically, 9800 mark of DOW is strong resistance level to break, but once we past it, it will be very bullish. However, it seems market need to retest those fib levels and reverse. The last friday low should be bottom for this scary selloff and for the rest of this year. However, all major indices are still in bad pattern and it has long time to go to break the downtrend line.
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