Finally the long waited pull back effect took place yesterday after a 6 straight days up resulted the Dow to end down 93.79 to closed at 10197.47. Yesterday black bar candle closed above mid Bollinger band with the band width continue expanding = market is still in an uptrend with a pull back effect took place or a possible consolidation/correction. MACD Histrogram also turned lower = long position trader locking in profit. Immediate support stands at the 10118 level and the next one at the middle Bollinger band level. At last looked, Dow futures up 21 point and major European market opened and traded mostly on par. Hang Send Futures just closed at discount of 53 points to its cash market.
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