Friday, March 21, 2008

$INDU Update for 03.22.2008


Monthly chart shows market holding the key LIS and prior s/r of 11,750 area. Index currently remains below the 8ema and the up trendline in place.

Weekly chart better shows the key support. Index has been stuck in a trading range since the low made in January 2008.

Daily chart shows consolidation/trading range. Friday's trading action retraced most of Thursday's losses. Look to next week's trading activity to see which way the market breaks out of its trading range.

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