Sunday, December 21, 2008

$INDU Update for 12.21.2008

DOW JONES INDUSTRIAL AVERAGE INDEX - $INDU

Monthly chart continues to show weakness with no buy signal in place on this timeframe.

Weekly chart remains weak, with the past three weeks of trading activity resulting in a hammer, doji and spinning top. No buy signal in place on this timeframe.


Daily chart shows weakness the last three days of the week, with the bears erasing the initial gains of the bulls early in the week. Look for continued weakness and a test of the current low at the very least.

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