Thursday, October 29, 2009

20091029 1630 DJIA EOD Daily Chart Study.



A break down day for the Dow Jones industrial average that slam down 119.48 to closed at 9762.69 level. With the long black candle bar closed below mid Bollinger band and MACD Histrogram going down further confirming the weakness of the DJIA market. Should the Bollinger band width stop narrowing and turned wider, then there could be further downside or else market will tends to stay sideway for a while. 

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