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Wednesday, October 14, 2009
20091014 1833 Dow Jones Daily Chart Study.
The Dow ended 14.74 points lower to closed at 9871.06 forming a black long tail doji bar. Closing above mid Bollinger Band = Market still bullish. Bollinger Band width continue to widen = Still room for market to go higher. MACD Histrogram edged higher at slower pace = buyer with the battle of the day by a small different. The long lower tail doji shows that buyer come in to support the market after a sell down. Overall, market still bullish but should price closed below the low of the doji bar, this will serve as an alert to buyer to take caution.
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