20091019 1717 Dow Jones Daily Chart Study.

The Dow ended Friday lower down by 67.03 points to closed below the 10,000 mark at 9995.91. Looking at the chart, DJIA still stay above mid Bollinger Band suggest that the market still remain bullish. Bollinger Band width also widen but at a slower pace indicate that there is still some room for market to move up further. However MACD Histrogram weaken by a tiny little bit telling us that profit taking toke place due to the weekend effect. Due to the fact that the trend is still up, thus buying on dip or break up is preferred.