Thursday, June 10, 2010

Dow Heading for B


Dow closed Thursday trading with a gain of 273 points (2.7%). It remained within the downtrend channel. According to Dow Theory, no trend reversal yet until it breaks its previous high. But my bet is it is heading for B since its sub-wave vii is resting at a very strong support levels as mentioned in my previous post. The technical indicator provides similar resistance at the same level.

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