Our medium-term outlook has not changed. A medium-term uptrend had started on March 9, 2009 at 6440.08 and reached 10767.15 on January 14, 2010. ^DJI gained -4327.07 points, or -67.19%, in 44 weeks. Dow Jones is near the medium-term trend support line. The 50 Day Moving Average line could be considered as a resistance (10416) one. Read More ...
Dow Jones Industrial Average |
A short-term downtrend had started on January 14, 2010 at 10767.15 and reached 9835.09 on February 5, 2010. Dow Jones lost 932.06 points, or 8.66%, in 19 days. The short-term downtrend has formed a falling channel pattern. The third wave (C) down is in progress. If the trend continues, Dow Jones may reach 9600 area by the end of the wave C. Resistance is near 10290.
Dow Jones Industrial Average |