Friday, October 2, 2009

Dow - Resting on short-term support


Dow dropped 203 points (2%) on Thursday to rest on top of the short-term support. After about 45 minutes into Friday's trading, Dow has lost about 50 points. If there is no turn around for Dow for the rest of the session, Dow is likely to move down to the longer term support at around 8900. However, if Dow can turn positive at the close of Friday's session, the candlestick may go for a reversal pattern formation. Has to wait for clearer signal.

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