YM (DOW futures) dropped 152 points from high to low and closed near the lows at 10453. As you can see on this chart, there has been nothing bullish going on since the top was hit on July 21st. Bulls need YM to hold on to trendline support around 10437. The DOW cash has pretty much given up on its 200 dma and SPX has now closed below the 50 dma. Look for that index to test 1200 soon.
This entry was posted
on Tuesday, October 04, 2005 at 6:01 PM.
