Sunday, January 13, 2008

$INDU Analysis for 01.13.2008

DOW JONES INDUSTRIAL AVERAGE - $INDU

Monthly chart shows index in danger of giving up all gains made since January 2007. The past three months has been met with net selling. No buy signal/pattern evident on this timeframe.

Weekly chart shows neckline of h&s reversal pattern broken. No buy signal/pattern evident on this timeframe.

Daily chart shows renewed selling on Friday last week. Possible consolidation/bear flag pattern shaping up. IF this is a bear flag, THEN look for lower next week or so. No buy pattern/signal evident on this timeframe.

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