1/8/08
Nasdaq has closed downward 8 straight day in a row. What a Bear Run for techs!! Also, Dow was closed below 12800 offically and now is totally Bear Market Play. S & P, Dow while both is trading at 50 EMA in 15-mins Chart where is the resistance and downtrend point. 12500 may have some support for DOW, but Dow could keep going downtrend to 12000 or below. Watch out one or two days bounce retrace for US stock market but the downward pressure is not easy to run away. The BEAR is now in control despite any good news. One more point to be sure if BEAR are in control if DOW cannot bounce back above 12400 level this week.
Tuesday, January 8, 2008
Subscribe to:
Posts (Atom)
