YM (Dow futures) needs to close back above 10850 quickly for bulls to have any chances of making a Santa Rally. Not only is 10848 the 23.6% retrace, but it is also the old descending trendline resistance, turned support and now resistance again. That would correspond to about DOW 10800. Next support is YM 10732, just under DOW 10700.
This entry was posted
on Tuesday, December 27, 2005 at 5:23 PM.
