Tuesday, July 14, 2009

Stocks Test Resistance



As you can see in the above chart the Dow Jones Industrials are now testing a resistance line. As long as stocks continue to make lower highs and lower lows the intermediate term trend is down. A move above the July 2nd high would negate the bearish outlook.

1 comment:

dacian said...

resistance line broken to the upside, waiting for day close...

quite difficult market (a mass of jelly actually).

thanks for the new post

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